2024 Florida Home Purchase Requirements
Think it’s difficult or even impossible to purchase a home in 2024? You may be surprised to learn that home ownership is quite feasible for many Florida residents. If you’ve been holding off on a home purchase because you believe you can’t possibly qualify for a loan, you’ll want to stop and read this article. […]
The Pros & Cons of Buying a Condo in 2024
A condo can be a highly affordable option for home ownership, but owning one is a little different from owning a stand-alone single family home. Condos even come with special loans known as condo mortgage loans that account for these differences. See also: How Does a Condo Mortgage Work? A Complete Guide for Buyers Understanding […]
How to Calculate ROI on Investment Property
The ability to calculate ROI on a rental property is a critical skill if you want to become a successful real estate investor. ROI calculations tell you what you can expect when you add a property to your portfolio, and whether it is worth pursuing. Of course, ROI calculations alone won’t be your only consideration. […]
The Pros and Cons of Owning Rental Property
Owning rental property is one of the most reliable ways to build wealth. Yet nothing comes without problems. If you want to build wealth with rental property, you’ll be taking on a whole host of new responsibilities. So it’s important to understand what you’re jumping into before making any decisions or purchasing any properties. Here […]
Financing Options for Investment Properties
Purchasing investment properties is one of the world’s most reliable ways to grow wealth. Yet many people assume investment properties are out of their reach. If you’re someone who thinks only rich people get to invest, here’s great news. There are many options for investors, and many are available to people just like you. In […]
How to Understand Home Loan Estimates
Three days after you apply for a mortgage you will receive a 3-page document called the Mortgage Loan Estimate. The law requires residential lenders to provide you with this standardized document so you can make an informed decision about whether the proposed home loan is right for you. You should receive this document both for […]
What is the Real Estate Settlement Procedures Act?
When you take out a mortgage in the United States, you can do so knowing you enjoy many protections under the law. One of those protections comes from the 1974 Real Estate Settlement Procedures Act, or RESPA. RESPA requires mortgage lenders to disclose all loan costs. It also prohibits kickbacks, limits escrow account requirements, and […]
The Role of the Consumer Financial Protection Bureau in Mortgage Lending
When you obtain a mortgage, you want to know you’re doing business with a fair, integrity-first company who will meet all the terms of your agreement. You don’t want to discover a “gotcha” in the fine print which might cost thousands of dollars. Choosing the right mortgage lender helps. But it’s also nice to know […]
How Dodd-Frank Affects Mortgages
The Dodd-Frank Act was the government’s answer to the 2008 mortgage crisis. It was meant to shut down risky lending practices and established several new authorities and bureaus to oversee the stability of the market. Some important parts of the Dodd-Frank Act that mortgage borrowers should know about include: Critics of the Act say that […]
Understanding the Fair Housing Act
In 1968, Lyndon B. Johnson passed the Fair Housing Act. This was the landmark law that made it illegal to discriminate in housing transactions. The law was expanded again in 1975 and again in 1988 to become the law that it is today. The Act prohibits any mortgage lending agent, realtor, real estate agent, property […]
