Posts tagged with "home buying"

Self-Employment and Buying in HOA Neighborhoods – What You Need to Know

Neighborhoods that have Homeowner’s Associations (HOAs) present a special challenge for the self-employed. Depending upon what type of business you operate, you may find HOA neighborhoods to be something less than welcoming. In a worst-case scenario, it can even turn into a legal confrontation. That’s why you need to know exactly what you’re getting into […]

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How Will the Trump Tax Proposal Affect Homeowners?

On September 27, 2017, President Donald Trump proposed sweeping income tax reform. If enacted as presented, it will be one of the biggest changes in the US tax code in history. There are provisions in the proposal that also specifically affect housing and homeowners. What are the main changes proposed, and how will the Trump […]

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Why Fall May be the Best Time to Buy a Home

The Spring/Summer real estate buying season is over. Does that mean that it’s time to abandon your homebuying plans, and wait for the next buying season next Spring? It could be a mistake if you do. That’s because fall maybe the best time to buy a home. Here’s why. The Spring/Summer Buying Season has Passed […]

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How to Get a Mortgage After a Bankruptcy

If you have had a bankruptcy within the past few years, you may still be able to qualify for a mortgage. But since bankruptcy is considered to be a major derogatory credit event, there are certain limits. Knowing those limits is the key to getting your loan application approved. Mortgage Rules on Bankruptcy Bankruptcy rules […]

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What is a Loan Estimate and Why Does it Matter?

Do you remember the old mortgage industry standbys, the Good Faith Estimate (GFE) and the Truth-In-Lending (TIL) forms? After many decades on the scene, they’re about to fade into the dustbin of history. They were replaced by the new Loan Estimate, which essentially combines both documents into a single streamlined presentation. The Loan Estimate has […]

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Things to Know Before You Start Shopping for a House

Congratulations! You’ve decided that you’re ready to buy a house. Here are some things you need to know before you start shopping: How much you can put down – You probably already know you need a down payment to buy a house. Twenty percent of the sale price used to be the standard amount, and […]

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Do You REALLY Want to Tap Your Retirement for a Down Payment?

Since so many people have most or even all of their savings in a retirement plan, it can be tempting to tap it for a down payment. But before you do, consider both the cost of liquidating retirement funds, as well as the options that you have to avoid it. The Cost of Liquidating Retirement […]

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What Mortgage Lenders Look for When You Buy a 2-4 Family Home

There’s a wealth of information available about mortgages to purchase single-family, owner-occupied homes. But much harder to come by is what mortgage lenders look for when you buy a 2-4 family home. Let’s take a look at those regulations regarding each category of the home buying process. Maximum Mortgage Loan Limits Fortunately, you can get […]

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Buying a Flipped House: Buyer Beware

HGTV has made house flipping look easy, and in some neighborhoods, it seems like there’s a house on every block that’s being flipped. For purposes of this article, let’s define a flipped house as one that the seller has owned for less than one year – basically, they bought it with the intention of upgrading […]

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Can You Use a Roth IRA for the Down Payment on a Home?

With so many people having most or even all of their savings in retirement plans, tapping them for the down payment on a home has become common. But of all the retirement plans you might use as a source of funds for the down payment, the Roth IRA comes up as the very best. It […]

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