The advantages of a 15-year loan over a 30-year include the obvious shorter term, usually a slightly lower interest rate and that equity builds faster.  The disadvantages are higher payments that are required regardless of temporary personal economic conditions. If a borrower is experiencing unexpected expenses that make it difficult to make the higher payments […]

When two people decide, whether they’re married or not, to buy a home, they’re probably considering what a great idea it is.  If later, they rethink the decision and determine to go their separate ways, simply deeding the home to the remaining person may not solve the potential liabilities. In the case of a marriage, […]

The least amount in a down payment is an attractive option when people are thinking of buying a home.  A common reason is to have cash available for furnishing the new home and  possible unexpected expenses. Some people don’t have any options because they only have enough for a minimum down payment and the closing […]

There are a multitude of companies across the Internet, referred to as iBuyers, who are suggesting that sellers can save the hassle of putting their home on the market, showings, repairs, open houses and other things by accepting their instant offer to purchase. The adage goes “if it sounds too good to be true, it […]

There’s a fine difference between a second home and a vacation home.  If you are going to primarily use the home for yourself, then, it is probably a second home.  If you’re going to use it some during the year and rent it out the rest of the time, it is probably a vacation home. […]

Home improvement loans provide a source of funds for owners to finance the improvements they want to make.  These are usually, personal installment loans that are not collateralized by the home itself.  Since there is more risk for the lender with this type of loan, the interest rate is higher than a normal mortgage loan. […]