Thursday, May 16th, 2013
If you are trying to buy a home after a foreclosure, its not a hopeless situation and the options are not as limited as you would imagine. Losing your home was bad enough, but the door is not shut; you still have options as to the next best moves you can take depending on two key factors:
1. Your bank
2. Your credit score
Let’s talk about a few opportunities that you can take advantage of so you can be in a position of buying a home after a foreclosure.
Time yourself
Your credit score will definitely Read the rest of this entry »
Posted by: Nirish Parsad Tags: Buying a home after a foreclosure
Posted in Buying a Home | No Comments »
Tuesday, April 30th, 2013
Getting a home loan can be a major endeavor, and many first-time home buyers only have a basic understanding of how the process works. There are quite a few steps between choosing the home of your dreams, and actually signing the paperwork, and those that are knowledgeable about the process have a much better chance of getting a home loan that they are happy with.
Here are some Home Loans 101 basics that every prospective home buyer should know.
Step One: Finding a Lender
When you begin the search for a home loan, you will probably start with a lender rather than a home. This is because you won’t Read the rest of this entry »
Posted by: Nirish Parsad Tags: Home Loans 101
Posted in Buying a Home | No Comments »
Thursday, April 25th, 2013
Are you finally ready to take the plunge? Interest rates are at historic lows, and real estate prices appear to have hit bottom. Going to buy that first home or possibly acquire an investment property? Either way, there are some things to bear in mind before taking advantage of the great deals out there. So what to do before you get your mortgage?
Contact an expert
Start by contacting your banker or a mortgage broker that you know, or by getting in touch with someone that a trusted friend recommends to you. Have an open discussion with the mortgage expert about Read the rest of this entry »
Posted by: Nirish Parsad Tags: What to do Before you Get Your Mortgage
Posted in Buying a Home, First Time Home Buyer | No Comments »
Tuesday, April 23rd, 2013
Buying your first home is serious business. It takes planning, years of savings and a suitable mortgage that fits your income. But, without experience, you can make simple mistakes when choosing your first property.
Follow these 3 must do’s for first time homebuyers to get the right home for you.
Must Do #1: Save More Than You Need
When buying your first property it’s important to determine what the actual cost will be so you can adequately save and budget in advance. Get pre-approved for a mortgage loan from your bank to ensure you can handle payments, interest and taxes on the property. Read the rest of this entry »
Posted by: Nirish Parsad Tags: 3 Must Do's for First Time Homebuyers
Posted in Buying a Home, First Time Home Buyer | No Comments »
Thursday, April 11th, 2013
A home is the biggest investment of your lifetime and you must be very excited, but you may make mistakes when you make it a very emotional process, because chances are that you will overlook what really matters. In most cases, the funds you are using to buy a house are a culmination of your lifetime savings and this is why it is important for you to take your time and consider pertinent issues before making the purchase.
Top 5 things to look for when buying a home:
1. Cost of Buying
When buying a house, most people only look at the basics such as the cost of the house and mortgage down payment. However, there are other costs that need to be factored in an effort to Read the rest of this entry »
Posted by: Nirish Parsad Tags: Things to Look for When Buying a Home
Posted in Buying a Home, First Time Home Buyer | No Comments »
Tuesday, April 9th, 2013
Buying a home can be a daunting task; but, there are a few steps, which can make the process a whole lot smoother. By familiarizing yourself with these basic steps of buying a home, you should be able to acquire the home of your dreams without running into any of the complications that often arise.
Figure out if you’re ready for a loan
One of the most important basic steps of buying a home is making sure you’re ready for the financial responsibilities that come with being a home owner. Depending on your situation, renting can actually be the financially smarter choice, as home ownership involves a lot more than paying a mortgage every month. You also have to pay for things like taxes, home insurance, and repairs. Read the rest of this entry »
Posted by: Nirish Parsad Tags: Basic Steps of Buying a Home
Posted in Buying a Home | No Comments »
Thursday, April 4th, 2013
Many people wish to own their dream home and make that home an inspiration as they continue to live their lives. However, there are cases where renting a home is more practical than buying one. In choosing to get a house, here are 5 reasons to rent instead of buy:
1. Costs Less
Topping the 5 reasons to rent instead of buying a house is the financial matter – it costs less. A homeowner is expected to pay 78 percent more than a renter in monthly expenses. Indeed, renting oftentimes costs less than home purchasing. An old myth says that you throw your money away in renting. While you are renting, money does not go back to you but you get something from it – a house to live in. Read the rest of this entry »
Posted by: Nirish Parsad Tags: 5 Reasons to Rent Instead of Buy
Posted in Buy vs Rent, Buying a Home | No Comments »
Thursday, March 21st, 2013
Since the housing market collapsed in 2008, buying an existing home remains less expensive than it was prior to that event. Not only our home prices lower, mortgage interest rates are at record lows. The combination of the two means that buyers can now afford to buy more house for their money.
Towards the end of 2012 banks have started lending money for mortgages again. While it’s true that most banks have tightened requirements for borrowers, if you have a good credit rating and a down payment, the probability of being approved for a mortgage is very good. Even better, many first-time buyers have discovered that due to low interest rates on fixed term mortgages, their monthly mortgage payments are lower than rent. Even with the home mortgage deduction unsettled as to whether or not it will continue, buyers still find renting more expensive than owning. Read the rest of this entry »
Posted by: Nirish Parsad Tags: The difference a low rate can make
Posted in Buying a Home, Housing Market | No Comments »
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