Living in a rental and starting a family can make things a little tricky because you may start to outgrow your home in a short time frame. Buying a house gives you the ability to solve this problem, but you will need to consider your family's growing needs to make the right choice.
To make sure that you get enough room, you should put most of your attention into certain features, rooms, and qualities while shopping for a single-family home.
When the market is booming for sellers, you can often put a home on the market and have several offers within days. But what if the market in your area is slow? Homes are sitting for weeks without offers, and you're worried the same will happen when you list yours. There is no way to absolutely guarantee that it won't, but there are some ways to help increase the chances of a prompt offer.
It is a lot easier to qualify for a mortgage loan if you have a great job and excellent credit, but there are ways to buy a house even if you do not have any credit. Without credit, it might be a little harder to do, but there are some tips that may help you buy a house if you currently have no credit at all.
Prove your financial state in other ways
Applying to refinance a home mortgage is on the minds of many Americans as they watch home mortgage interest rates slowly tick upward. Home loan interest rates, as well as those used for auto loans, and some other types of credit, are tied to the bank prime rate. According to industry experts, this rate is expected to continue to rise, reaching 6.25 percent by the year 2020.
Homeowners who have been on the fence about refinancing to pull some equity from their home must now move forward to refinance or risk having to pay a much higher thirty-year fixed rate than they are currently paying.
If you are in the search for a home, you might encounter the terms market value and appraised value while perusing the listings. Knowing how these terms affect things like selling price, property taxes, homeowners' insurance, and more are a vital part of the home-buying process. Read on to learn more about these two terms and be ready to snag a deal on your dream home.
Market Value
When you find a home listed at a certain price, you are probably looking at the market value.
