Few homebuyers can afford to purchase property out of pocket. Even if you are financially secure, odds are you may need to take out a loan to buy or invest in property. However, those who are not financially secure have no choice but to take out a home loan if they want to become homeowners. …
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USDA Loan Income Limits and Requirements – Calculating Eligibility If your family is shopping for a new home loan, there are several federal loan programs that you may want to look into. One loan program that has become increasingly popular over the years is the Single Family Housing Guaranteed Loan Program, more commonly known as …
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Investing in Northern California Real Estate Vs. the Stock MarketA little while ago a team combining the think tanks of the University of California, the German Central Bank, and the University of Bonn worked on answering the question of which asset gave a better return over the last 145 years: real estate or stock investing? …
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What is the Difference Between a HECM Loan and a Reverse Mortgage?The Home Equity Conversion Mortgage is offered to those over age 62 amid a plethora of multiple tools that take on the name of reverse mortgage and similar. So it’s easy to understand how folks can be easily confused. Even experienced finance folks can …
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What are the Most Common Household Budget Percentages?Following a budget is like a combination of financial roadmap and peace of mind. By taking charge of how and where to spend your money, you enable yourself to control your money, rather than your money controlling you. Knowing how much money to allocate for certain expenses can …
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31 Ways to Save Money in 31 Days Many people are under the impression that in order to save money they need to do something drastic like eat Ramen noodles for the rest of their lives or wear their clothing until it is in tatters. We’re here to help you learn that you can actually …
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How Much Down Payment is Needed for First Time Home Buyers? Unlike other countries where living in apartment, flat or rental, may be the norm, the American Dream is constructed around homeownership. This is no accident; everything from our tax structure to societal expectations define achievement with buying a home. So at some point almost …
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Exploring FHA Loan Down Payment Assistance Programs Given the rising prices of homes in 2018, the availability of down payment assistance programs is being researched more widely every day. More and more full-time working folks are pursuing every avenue possible to get into a home, and every purchasing edge is being considered. California is at …
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Let’s Break it Down: The Reality of Reverse Mortgage Fees & Charges Simply engaging in a reverse mortgage is never just about the loan. There is a whole package of fees and charges that go along with any kind of real estate financing, from the opening stage all the way to the final paperwork and …
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How to Make a Household Budget Walkthrough Guide Making a household budget can seem like a daunting task, especially if math isn’t a subject you are particularly friends with. It doesn’t have to be difficult. This guide will walk you through the steps to creating a budget you can live with.
How are Reverse Mortgages Settled After the Borrower(s) Passes? Most folks are familiar after going through the application process for a reverse mortgage that if the applicant leaves the home or passes away, the reverse mortgage will come due prior to expiration. However, the mechanics of the actual process of estate settlement in the case …
The 9 Biggest Factors Influencing Real Estate Property Growth In California Many people frequently attribute California’s real estate success to a booming economy going on nationwide. While this factor is a contributor, it is not the only reason why real estate values are climbing higher in the state than most of the rest of the …
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For those who are over age 62, a number of financial options become available in the reverse mortgage arena, providing significant opportunities for reshaping one’s retirement. However, there’s a wide array of choices available today, including federally-designed programs. Deciding which program works better can be daunting. There actually is quite a difference, and some types …
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Can Personal Finance Software Give You an Edge in Budgeting & Saving? People have been following one form of budget or another since a medium of exchange came into existence. The earliest cavemen may have used something like sticks or stones separated into piles (three stones for Oog, one for Grog). Next came things like …
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The Defining Differences Between a Home Equity Loan & a Home Equity Line of Credit When people want to use their home as a financing advantage or leverage, a number of options are available. However, the processes, results, costs and fees are tremendously different, each with advantages and disadvantages. Much of this is procedural; the …
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Home Equity Loans, What are They and How do They Work? As soon as a person reaches the wonderful status of being a homeowner, the realization of home equity and what it actually represents begins to occur as the second stage of homeownership. Home equity can be a powerful asset and tool to use, but …
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Household Budgeting vs. Personal Budgeting, What’s Actually the Difference? People often use the terms household budget and personal budget interchangeably. This is not accurate. In some cases, a person living on their own can actually use them as the same thing but in most cases the two are different. The main difference between a personal …
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The Housing Bubble Guide: What are They & Should I be Concerned? For anyone who had to live with the insanity of real estate in the 2000s and how it ended in 2009, the term “bubble” isn’t a figure of speech; it evokes a very real, tangible feeling of mayhem and economic ruin for many …
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What are the Upfront Costs Associated with Buying Property in California? The single number that most people focus on when buying a home or property in California is the listed selling price. There is however, a considerable amount of money associated with fees and expenses, to arrive at the final sales figure to close a …
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What Happens When You Attend a HUD-Approved Agency Counseling Session? One of the requirements all applicants have to meet is a counseling session with an approved HUD financial advising entity, typically a trained professional who can teach people about all the details of a reverse mortgage and has no profit motive in the process. Here …
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13 Reasons Displaying Your Household Budget Will Increase Your Chance Of Success Your budget does you no good if you create it and then never look at it again. Placing your budget in a drawer is a good case of “out of sight, out of mind”. It is too easy to forget and continue with …
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