Save For a Down Payment or Retirement? Here’s What to Know Before Lowering 401(k) Contributions
By Lisa Marie Conklin May 11, 2023 Photo by Thgusstavo Santana: https://www.pexels.com/photo/yellow-concrete-house-2102587/ Saving up for a down payment is usually the biggest hurdle for first-time homebuyers, especially when you’re feeding a healthy chunk of your paycheck to fund a 401(k) for retirement. Add living expenses to [...]
Closing on a House: Settlement Tips for Home Sellers
By Michele Lerner May 17, 2023 (Getty Images) Before closing on a house, you need to get to the settlement table. You’re near the end of the process of selling your home, but don’t breathe a sigh of relief just yet. While it’s certainly true that [...]
Days on Market: A Week-by-Week Guide of What To Expect When Selling Your Home
By Stephanie Booth May 9, 2023 (Getty Images) Congrats, you’ve decided to sell your home! And by now, you’ve likely painted your front door and decluttered all of the closets, and your real estate agent has taken some stunning photos of your home. Soon your agent [...]
What Is a Home Equity Investment? A Creative Yet Risky Way To Turn Your Home’s Value Into Cash
By Kathleen Willcox May 11, 2023 (Realtor.com / Getty Images) Between soaring interest rates and the increasing costs of daily life, homeowners are searching for new and creative ways to access cash and tap their home equity without incurring steep borrowing costs. Typically, you can get [...]
What Is MIP? Mortgage Insurance Premium, Explained
By Sean Jackson May 11, 2023 (MicroStockHub/iStock) Getting a loan from the Federal Housing Administration (FHA) is an attractive option for homebuyers with less-than-stellar credit who aren’t sitting on a large nest egg. Buyers with a credit score as low as 580 can make a down payment as [...]
What Is a Mortgage Rate Lock? The Key to Scoring a Cheap Home Loan
By Cathie Ericson May 7, 2023 (imaginima/iStock) When you lock your doors at night, you think, “Phew, I’m safe!” Locks mean safety. Locks mean security. And it turns out the same is true in the world of home loans, where you may encounter the term “mortgage rate [...]
