Owning a home is a dream for many Americans, and it comes with many benefits. One of the biggest benefits is the tax advantages that homeowners can enjoy. Here are some of the key tax benefits of owning a home in the US. Mortgage Interest Deduction One of the biggest tax benefits of owning a… Continue Reading
The BRRRR method is a unique real estate investing approach that has recently gained popularity. BRRRR stands for Buy, Rehab, Rent, Refinance, and Repeat and is all about maximizing your cash flow and leveraging your investments. In a nutshell, the BRRRR method involves buying a property, fixing it up, renting it out, refinancing it to… Continue Reading
With interest rates at twice what most Americans currently have on their home loan after refinancing over the last few years, those looking to use their home equity when needed are in a bit of a pickle. Refinancing to take cash out would mean doubling their current mortgage rate. Yet, there are pressing needs of… Continue Reading
Home buyers looking for alternatives to the current fixed-rate mortgages, which have doubled in the past 12 months, find themselves with limited options for lower payment options. Recently we covered one of the most touted options: the 2-1 buydown. There is another option that may be less costly overall and yet provides a way for… Continue Reading
A Home Equity Conversion Mortgage (HECM) is a type of reverse mortgage that allows people to access their home’s equity and take cash out for a variety of purposes. The HECM was created by Congress in 1992 and has been used by seniors since then to help them pay for expenses related to aging, such… Continue Reading
If you’ve been following the news, you know that the Federal Reserve has been raising interest rates. The Fed’s efforts to bring inflation under control by raising interest rates affect many aspects of our lives in a very real way. In particular, Fed policy impacts home affordability and sales activity. But before we dive into… Continue Reading
The US economy has been a rollercoaster ride since the COVID-19 pandemic began. For many, there has been significant hardship due to job loss or illness, which may have caused them to fall behind on mortgage payments. The government instituted programs to help homeowners stay out of foreclosure, but those programs are ending. Unfortunately, the… Continue Reading
If you are looking to get approved for a home loan, you may be vaguely familiar with what it takes to pass the underwriting process and get approved. Most people only get a home loan every few years at the most so it is understandable that the average person doesn’t know the fundamentals of getting… Continue Reading
Well, it’s mid-November 2022, and the Real Estate market as well as the mortgage market, continue to spiral. Mortgage rates have been above 7% for over a month and well above 6% for several of the last 6 months. It’s a bit of a meltdown. But no worries, there is a savior in town! The… Continue Reading
For many people, FHA loans have been a valuable resource for those looking to buy a home for the first time. They are attractive loans due to their lower down payment requirement of 3.5% and generally lower rates than conventional mortgages. However, FHA loans offer more than just a traditional mortgage to home buyers. These… Continue Reading