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Home Owner Tips

someone setting a blue alarm clock thinking when is the best time to sell a house

When Is the Best Time To Sell a House?

Whether you’ve lived in it for 3 years or 30, your home is a part of your life. As a homeowner, it’s also a big part of your financial future. So if you’re thinking about selling your home, it’s usually for a good reason: Your family is growing and you need to find a larger...

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Couple entering home for sale

What Are Different Types of Real Estate Investments?

Real estate can be a very lucrative investment – and it doesn’t have to be hard. Being a real estate investor doesn’t always require a great deal of financial commitment upfront, and you don’t always have to deal with tenants. Understanding your options to make money in real estate is the first step to exploring...

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Collateralized Mortgage Obligations (CMOs), Defined

Collateralized mortgage obligations (or CMOs) are complex securities backed by bundled mortgages. As homeowners pay back their loans, CMO investors earn dividends and income from homeowners’ interest and principal payments. CMO investments can be a savvy way to balance portfolios that are heavy in other types of assets. For example, if you’re holding a lot...

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Cluttered desk in a yellow room.

How Many Mortgages Can You Have?

Maybe you’ve successfully purchased your first home – and now you’re hooked. You’re determined to grow your real estate investments. That could mean creating a rental portfolio or buying a vacation home (or homes).  Since you managed to get approved for your first mortgage, getting approved for a few more should be straightforward, right? The...

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How To Get Your Name off a Mortgage

When you got your mortgage, you might have applied with a spouse or other co-borrower to get better mortgage terms, split the financial responsibilities or because you wanted to live together.  But life happens and things change. Maybe you’re getting a divorce or you’ve decided you want to live on your own. Now you’re probably...

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Looking at the front of a house

Primary Residence Mortgage: What Is It and Why Is It Important?

Whether you’re new to homeownership or an old pro, there is a lot to learn when it comes to the ins and outs of a mortgage (aka the loan that gets you a home). Before you apply for a mortgage, it’s important to research the different types of mortgages that are available and the requirements...

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Rooftop sign with "TAXES" in red letters

Is Home Insurance Tax Deductible?

Owning a home can be expensive. The federal government knows this, which is why it allows taxpayers to deduct some of those expenses when they file their tax returns. Unfortunately, homeowners insurance (aka home insurance) isn’t tax deductible. But, if you qualify, there are other home expenses you can deduct to help you save money...

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Two men about to shake hands sitting in a home

Quitclaim Deed: What It Is and When To Use One

When it comes to owning property, we pretty much know the drill: find the property, get it financed with a loan, sign a general or special warranty deed and then it’s yours. But not all property transfers happen this way. Inheritance, a special trade between two parties, is a type of property transfer that doesn’t...

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How To Start Investing in Real Estate

For most people, buying a home is a major life goal. And once that first home is safely in the rearview mirror, investing in real estate can give you the same adrenaline rush.  We’re willing to admit that investing in real estate may not be as thrilling as bungee jumping, getting a front-row seat at...

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How To Get Rid of PMI Early: 3 Surefire Ways

Buying your first home is one of the most exciting purchases you may ever make. But, depending on the size of your down payment and the type of loan you get, you may have to pay private mortgage insurance (PMI). PMI is charged on conventional loans when a borrower puts less than 20% down to...

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How To Assume a Mortgage

The home buying process can be long and challenging, but an assumable mortgage could make things faster and easier for both the buyer and the seller. Mortgage assumption gives sellers an edge while saving buyers on interest and closing costs. It’s not right for everyone, but it could make closing on a home shorter than...

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Paying Alimony and Mortgage Qualification: How They Can Work Together

When a marriage ends in divorce, it’s hard for everyone involved. And once the split is complete, people will inevitably want to move on – and that may even include buying a new home.  Buying a new home will likely mean getting a mortgage. And lenders are going to want to get a complete picture...

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An aerial view of a piece of land

What Is a Land Loan and How Do You Get One?

We talk about land loans a lot less than home loans. And that’s not surprising. According to the National Association of REALTORS®, 87% of home buyers buy existing, previously owned homes. But some life goals may need a piece of land as their launchpad. And there are lots of reasons why someone might buy land,...

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woman choosing a mortgage lender looking through papers and sitting at table

3 Tips for Choosing a Mortgage Lender

It would be awesome if finding the right mortgage lender were as simple as swiping right on an app (#lender, anyone?). But you can’t choose a mortgage lender that way because there are too many moving parts. Your finances and your lender’s terms and services must match to make it work. Taking shortcuts when it...

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colorful charts representing debt to income ratio

What Is Debt-to-Income Ratio?

Thinking about buying a home and getting a mortgage to pay for it? Then you need a crash course in debt-to-income (DTI) ratio. Lenders use your DTI to determine if you’ll be able to afford your monthly mortgage payments. That’s why knowing this powerful percentage can help you get a mortgage. What Is Your Debt-to-Income...

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