How to Finance

Figure Out Your Financial Strategy

Start by asking yourself: How long do I plan to live in the house I buy?

Types of Mortgages

Do you know the difference between an FRM and an ARM? Get a crash course on mortgage products.

More on Finance

  • A few years ago I had become a flipper by accident, because a few life changes forced me to sell three houses in five years. My partner and I had an inkling that a move might be in our near future…   Read the Article

  • In all your excitement about the prospect of buying a house, you'll be tempted to twist your financial numbers so you appear more desirable to a potential lender. Instead of admitting the balance on…   Read the Article

  • There are Two Categories of Mortgages: Governmental loans are mortgage programs sponsored by a government agency. These include the Federal Housing Administration (FHA), the Veteran’s Administration…   Read the Article

  • A mortgage is a loan. It's made up of the principal (the amount of the loan) plus the interest (money paid to the lender for the privilege of borrowing their money). Here's a shocking mortgage…   Read the Article

  • If your house has been on the market for a while, you need to move quickly, or you have a motivated buyer who can't gather enough cash to buy but can put down a nonrefundable deposit on a future buy,…   Read the Article

  • A buyer makes an offer, and you have accepted! This moment might bring more tears than the day you got engaged. And like an engagement, you may have the ring but you ain't married yet. Earnest…   Read the Article

  • Due to the frightening house market in California, we agreed to allow our real estate agent to "double agent" --- that is, to represent the buyer as well as us, the seller. After having our house on…   Read the Article

  • Realtor Commission There's a 4 percent to 7 percent commission on the sale price of the house if you opt to go with an agent. Usually this rate is between 5 percent and 6 percent, but it can go…   Read the Article

  • Upgrading to a new home? You can buy a brand-new home in one of three ways: buying a house already built on spec; having a semicustom home built as part of a development (you can choose …   Read the Article

  • Decide Whether to Sell at AllIn a buyer's market, you may be better off renting your old place instead of selling. Weigh the cost of the mortgage and property taxes, plus the time you'll have to…   Read the Article

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