Posts by Kevin Mercadante

Kevin Mercadante is a freelance professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has backgrounds in both accounting and the mortgage industry.

How to Get a Home Loan When Self-employed

If you’re self-employed, you’re probably at least somewhat aware that it’s more difficult to qualify for a home loan than it is for a salaried person. Whether it’s fair or not, lenders generally view salaried incomes as more secure than self-employment. For that reason, you’ll have to come up with a lot more documentation with […]

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Is it Better to Renovate or Buy a New Home?

This is a question that most homeowners face sooner or later. Is it better to renovate or buy a new home? There are advantages in either direction. It’s mostly about focusing on the benefits that most apply to you and your situation. Let’s take a look at both renovating your existing home, and buying a […]

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When Renting No Longer Makes Sense

At a certain time in your life renting may be the best option. It can be less expensive than homeownership. And it can also provide you with mobility that may be important early in life. But sooner or later, the time will come when renting will no longer makes sense. Let’s look at the life […]

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What Can Go Wrong if You Overprice Your Home for Sale

Though there are specific ways to price your home for sale appropriately, home sellers sometimes ignore those methods. Not surprisingly, it’s usually a higher price. Sometimes it’s much higher. Though that might seem like the right thing to do, much can go wrong if you overprice your home for sale. The Reasons Sellers Overprice Their […]

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How Much Remodeling is Too Much?

You want to remodel your home, but the cost is always a factor. It usually makes sense to make improvements that will result in a corresponding increase in the value of your home. For example, if a $10,000 renovation will add $10,000 to the value of the property, the project makes sense – at least […]

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New Mortgage Amounts and Loan Requirements for 2018

As is usually the case with the arrival of a new year, there are changes happening in the mortgage industry. These include changes in maximum loan amounts, as well as to certain underwriting criteria that affect borrower qualification. On balance, all of these changes are positive for 2018. They’ll enable higher loan amounts, and increased […]

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Why You Should Improve Your Credit Before Applying for a Mortgage

If you have some credit problems, you should improve your credit before applying for a mortgage. The house hunting/mortgage application process is fairly complicated. But it will be much more so if you enter it with unresolved credit problems Here are five reasons why you should improve your credit before applying for a mortgage. Being […]

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When it Makes Perfect Sense to Do a Cash-out Refinance

Strictly speaking, doing a cash-out refinance is a form of “equity-stripping.” That’s what it’s called any time you borrow money against your home for a purpose that is not related to the property itself. There’s no question that equity stripping can lead you to a bad place. But there are times when it makes perfect […]

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Why a Home is Probably Still Your Biggest and Best Investment

While there’s much discussion about building wealth through retirement plans or investing in stocks, a home is probably still your biggest and best investment. That certainly true for the average household in America. Yes, there is the potential to accumulate significant wealth in retirement plans and stocks. But the reality is that a home is […]

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The Pros and Cons of Making a Minimum Down Payment

If you’re a first-time home buyer, you probably expect to make a minimum down payment when you buy a home. But there are pros and cons of making a minimum down payment, and you should be aware of them before you make your purchase. The Pros of Making a Minimum Down Payment Enabling You to […]

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