A lot of things are scarce now-a-days. While toilet paper scarcity is hopefully a thing of the past, housing inventory remains a real problem and mortgage credit availability, a measure of a lender’s willingness to issue mortgages, is near its lowest level since 2014, according to the MBA (Mortgage Banker’s
Having a rental property can be a great investment. Not only can it appreciate, but many times the rent you receive from tenants will also cover most (or all) of the mortgage.
Of course, it’s not exactly passive income. You’ll probably be managing renters, hiring yard care
If you’re serious about buying a home, getting pre-approved for a mortgage is a critical step. It’s also a tedious one. Lenders seem to want a mountain of documents and have so many {{ start_tip 124 }}requirements.{{ end_tip }}
Yet the payoff is worth it. Most agents recommend mortgage pre-approval because it strengthens your offer. Sellers like
Are closing costs tax deductible? What about mortgage interest? Or property taxes? The answer is, maddeningly, “It depends.”
Basically, you’ll want to itemize if you have deductions totaling more than the standard deduction, which is $12,000 for single people and $24,000 for married couples filing jointly. Every taxpayer gets this deduction,
Tax Deductions for Homeowners: How the New Tax Law Affects Mortgage Interest
Tax season is upon us once again, and to make it even more interesting this year, the tax code has changed — along with the rules about tax deductions for homeowners. The biggest change? Many homeowners who used to write off
The role student loans play in denying would-be buyers from getting into a home of their own has grown to staggering levels. According to the 2018 Homebuyer Profile report from the National Association of Realtors®, “Almost one in four homebuyers this year had student loans, which made it harder for
Mortgage rates dropped slightly this week, but overall, they were mostly flat, offering some temporary relief to borrowers and prospective buyers who keep getting outbid on homes in a market with limited inventory.
Mixed economic data this week prompted mortgage rates to remain in mostly a holding pattern, says Sam
There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just
Energy-efficient home features are becoming increasingly important to today’s homeowners, so Fannie Mae has rolled out a new loan program called the HomeStyle Energy mortgage loan. This new loan allows homeowners to save on long-term energy costs by financing upgrades to home energy and water systems, including:
Replacing windows and doors