Found 5 blog entries tagged as finance.

Things are moving in the right direction, regarding real estate, because the economy has gotten much stronger! If you are already a homeowner and you are looking to make a sound investment don't look any further. Real estate investment property is your answer providing you have good credit and income as well as a substantial down payment.

Buying a two family or multi-family home is one of the best investments you can make. There is no better time because prices of homes are down and mortgage rates have bargain opportunities. With a minimual monetary investment you can own a home and your tenants can pay your mortgage, repairs and improvements in many cases.

Second homes that are tenant occupied are allowed to be depreciated or written off for a…

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By: Daniel Boxman of United Northern, NMLS ID# 1077102

Get Preapproved

After you've gotten yourself prepared and feel ready to move forward with your home purchase, the next step is to get pre-approved with your mortgage lender. A pre-approval is based on your financial situation and includes a loan amount agreed upon between you and your lender that they believe you will be able to repay. 

A pre-approval letter is not necessarily a commitment to the loan, but it is a huge asset to have when you are searching for your home, as it shows any realtor and/or seller you are working with that you are serious about this purchase and ready to qualify. This gives you an advantage over other buyers who have not pre-approved through a bank yet. Also, many…

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By: Daniel Boxman of United Northern, NMLS ID# 1077102

Preparing yourself for a home purchase is very important. When you are investing in one of the biggest purchases of your life, you want to make sure you are ready. Here are things to consider that may help:

Look over your Financial Situation:

  1. Check your credit. Run your credit (if you haven’t in the last 3 months); you are entitled to a free credit report once a year. There are online sites such Credit Karma who do this for free, or you can even look into creating an account with one of the three big credit Bureaus (Experian, TransUnion, Equifax). Knowing your credit score will give you an idea if you are in good standing to buy a home. You will also be able to see if there are any issues…

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Fannie Mae and Freddie Mac have been in the news recently, so it’s a good time to do a refresher on who they are and what role they play.

Who Are Fannie Mae And Freddie Mac?

Fannie Mae is the Federal National Mortgage Association. FNMA is a federally chartered enterprise owned by private stockholders that purchase residential mortgages and converts them into securities for sale to investors. Freddie Mac is the Federal Home Loan Mortgage Corporation. The FHLA, also federally-chartered, is a corporation that purchases residential mortgages, securitizes them, and sells them to investors; this provides lenders with funds for new homebuyers. They were originally created to raise homeownership levels and increase the availability of affordable housing.

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Going head to head to cash buyers is always competitive. Cash buyers are seen as desirable because there are no banks involved and they’re almost always a guaranteed quick close. But don’t freight; there is still hope of getting your dream home!

Here are some ideas to help beat out those cash buyers:

20 Percent Down Payment

Save up a higher down payment for the price range. If you can come up with 20 percent or more, then you’re in a position to wave the appraisal contingency for financing with the bank. In simpler terms - the more cash you have saved, the better.

Take-It-or-Leave-It Home Inspection

This means that based on the home inspection, you’ll take the property with all its issues, but you still have the option walk away. What you…

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