New home sales are on the rise, and many of those purchases? They’re being made with FHA loans. According to a recent analysis from the National Association of Home Builders, almost 18 percent of all new home sales were purchased with FHA mortgages last quarter — or about 32,000 home sales nationwide. That’s a [...]
You might have seen the headlines: mortgage rates are dropping — and have been for some time. In fact, as of mid-August, they're actually near three-year lows. That means refinancing your mortgage or buying a home might be more affordable than ever. But what's at work here? Why are rates dropping so low and [...]
Paying your mortgage biweekly — half your payment every two weeks, to be exact — can be a smart way to reduce your interest costs and even pay off your loan sooner. But is it right for everyone? Definitely not. Are you considering skipping those monthly mortgage payments in favor of a half-payment every [...]
Thinking of closing one of your credit cards? Read this whole blog before making that decision. Your credit score is one of the most critical components of your total financial picture. A good credit score can usually get you better interest rates and terms, and lower fees on credit cards, auto loans, and your [...]
College is expensive. The average cost of public college is nearly $10,000 per year for in-state residents and more than twice that for out-of-state residents. Add that up over four years and you’ve got a pretty hefty sum of money on your hands — a sum that many students (and their parents) just don’t [...]
Renters often wonder if they can afford to buy a house. Most of the time, there’s a better question they should be asking: Can they afford NOT to? Let’s face it: renting is expensive. According to RENTCafe, national rents average more than $1,440 per month, and they’ve been growing steadily for nearly a full [...]
Refinancing can be beneficial for many homeowners. It can lower your rate, your monthly payment and maybe even shorten the total length of your loan. But if you have two mortgage loans on your hands? Then refinancing might be even more powerful a financial tool. You might have two mortgages because: You took out [...]
We’d all love to welcome our newborn babes home with a comfy, cozy, magazine-worthy nursery — but the truth is most of us can’t afford it. Baby stuff is expensive — like, really expensive. And between the cribs, clothes, diapers, and other must-have necessities, it can be easy to rack up a hefty bill [...]
If you’re buying a home in a hot market or you’re just eyeing a super in-demand property, you very well might find yourself in a bidding war, competing with dozens of other offers, buyers and, in many cases, even investors. Fortunately, a bidding war doesn’t necessarily mean you’ll lose the property — nor does [...]