Friday, June 29th, 2012
On average, the typical American family will refinance their homes every four years. Refinancing has become more common with the low interest rates and the housing slump. Before diving headfirst into a home refinance, there are some home refinancing basics that should be looked into before any forms are signed.
There are many reasons why people look into refinancing their mortgage. The most common reason is to lower a monthly payment. The lowering of an interest rate can dramatically lower a payment and can even cut down on the length of the loan. Read the rest of this entry »
Posted by: Nirish Parsad Tags: Home refinancing 101, Home refinancing basics
Posted in Basics, Refinancing | No Comments »
Wednesday, June 27th, 2012
The process of buying your first home can be a little bit overwhelming at times. Avoiding first time home buying problems is important if you want it to be a smooth transaction. Here are a few of the most prominent first time homebuyer concerns to be aware of.
Coming Up With Down Payment
One of the biggest hurdles that must be overcome when buying your first house is coming up with the down payment. Buying your second or third house might not be as difficult because you may have some equity built up in your house when you sell it. However, the first time, you have to come up with a big chunk Read the rest of this entry »
Posted by: Nirish Parsad Tags: avoiding first time home buying problems, first time homebuyer concerns
Posted in Buying a Home, First Time Home Buyer | No Comments »
Tuesday, June 26th, 2012
Many people who buy houses get 30-year fixed mortgages to make the purchase, because they are considered to be the industry standard. If you’re not planning on being in your house for 30 years, why is your mortgage a 30-year loan? In reality, you may not need to get the traditional 30-year fixed mortgage to buy your house.
Using ARMS for Short Term Home Ownership
If you plan on selling your house at some point in their future, it may not make sense to get a traditional 30-year fixed mortgage. One alternative is an adjustable-rate mortgage or an ARM. Read the rest of this entry »
Posted by: Nirish Parsad Tags: using ARMS for short term home ownership, why is your mortgage a 30-year
Posted in Adjustable Rate Mortgage (ARM), Fixed Rate Mortgage, Mortgage 101 | No Comments »
Monday, June 25th, 2012
When you are ready to get involved in the real estate market, figuring out how much you can afford is one of the most important parts of the process. Many people go into the process of buying a house with unrealistic expectations. They think that they can buy a mansion on a minimum wage salary, and end up disappointed. Other people end up getting a house that is more than they can afford and it cripples them financially. How much home can you afford? There are a few different ways to find out.
Get Pre-Qualified
One of the best things that you can do in Read the rest of this entry »
Posted by: Nirish Parsad Tags: affording your next home, How Much home can you afford
Posted in Buying a Home, Pre-Qualificiation | No Comments »
Friday, June 22nd, 2012
When you buy a house, you are bound to come across the term “escrow” at some point in the process. In the real estate arena, escrow could actually mean one of two different things, depending on the situation. Understanding how escrow works is essential if you want to make sure that the real estate deal is being handled appropriately. What is Escrow? It is basically a third party that handles things on your behalf when working with a third-party. They are there to ensure the integrity of transactions and to make sure that everyone is taken care of as they should be.
So how does escrow work? Read the rest of this entry »
Posted by: Nirish Parsad Tags: home escrow 101, How does escrow work
Posted in Mortgage 101, Title | No Comments »
Thursday, June 21st, 2012
When you are in the process of buying a house, you need all the help that you can get. Trying to navigate through the process of making an offer, getting approved for a mortgage and eventually closing on the loan can be intimidating to say the least. If you are in the market for a house, finding a team of people to help can be of great value to you. Loan officers and Realtors regularly work together to be able to make the transition of buying a house smooth for buyers.
Find a Good Realtor
Finding a good Realtor can go a long way toward making the process work for you. Read the rest of this entry »
Posted by: Nirish Parsad Tags: Loan Officers and Realtors, making your home closing go smoothly
Posted in Buying a Home, Loan Officer, Realtor | No Comments »
Tuesday, June 19th, 2012
Selling a piece of real estate can be exciting, but it can also lead to a big bill from the taxman in some situations. When you sell real estate, the sale may be subject to capital gains taxes. Understanding how capital gains taxes work can help you plan the sale in the appropriate way so that you can avoid or minimize these taxes.
Capital Gains Explained
So what are capital gains taxes? This is a type of tax that is charged on the amount of gain that you earned on an asset. In the case of real estate, you’re essentially paying tax on the difference between what you bought the property Read the rest of this entry »
Posted by: Nirish Parsad Tags: Capital Gains explained, what are capital gains
Posted in Buying a Home, Investment Home | No Comments »
Monday, June 18th, 2012
Figuring out the best time to buy a house can be challenging, depending on your situation. If you are thinking about getting involved in a real estate market, there are a few different factors that you take into consideration. This isn’t exactly like buying a new pair of shoes. It’s probably the biggest financial decision you’ll make in your life, and it should not be taken lightly.
Timing and Buying a House
In the real estate market, timing is everything. If you choose the right time to buy, you’ll be able to make a profit on your real estate Read the rest of this entry »
Posted by: Nirish Parsad Tags: Best time to Buy a house, timing and buying a house
Posted in Buying a Home, Shopping | No Comments »
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