CHamler

Let’s be honest, who would say no to an affordable mortgage? As long as it’s not a scam and the terms and interest rate are clear, we’d say yes in a heartbeat. For many years, mortgages were designed so that they are more affordable for almost everyone. As a general logic, if mortgage affordability is increased, homeownership rate will also increase. Affordable home financing appeals and attracts more individuals to consider buying a house. To achieve this, lenders and mortgage experts started creating mortgages that required only 5 to 20 percent down payment and loan term that spans 30 years.…

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While Millennial homebuyers have been very vocal about their struggles in homeownership, it looks like this generation is doing better strides compared to an older generation when it comes to debts and credit scores. A new State of Credit report was released by Experian just recently. While the Baby Boomer and Millennial Generations are taking positive strides when dealing with debts, Generation X seemed to lag behind. Based on this report, America enjoys a positive and healthy overall credit. In the span of 12 months ending in June 2017, America’s average credit score rose from 673 to 675. Consumer spending…

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In its efforts to meet today’s climate goals and to help low-income residents reduce their electricity bills, the state of California now has the Solar on Multifamily Affordable Housing (SOMAH) program. The California Public Utilities Commission (CPUC) has approved the creation of the said program last December 2017. The SOMAH program has been on the board for a couple of years. In 2015, California’s legislature came up with a comprehensive framework which now was made into a bill. The program’s budget of $1 billion will be spread over the next decade. Annually, $100 million in incentives will be granted to eligible…

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Buying a house — the thought of it either makes you squeak in excitement or tremble with anxiety. These reactions are pretty normal and expected.  It’s because it probably is one of the largest purchases you will ever make. When you’ve finally found the house you love, you’re just getting started. That’s just half of the battle. The other half is to know how to finance it. If you have a fat bank account, that’s easy. You can make the purchase in cash, upfront and then the house is yours. However, if you’re not as financially blessed, you’d have to…

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If you’re thinking of moving to a new home this 2018, you must plan carefully to make sure it won’t hurt your finances. The recent tax reform will have varying effects on the housing economy of the country. On December 20, 2017, the House passed the GOP tax bill. Two days later, President Donald Trump finally signed the said tax bill into law. The changes brought by this new tax law are expected to hit high-cost areas the hardest while encouraging more people to reconsider less-expensive states. It will fuel the housing demand on low-cost areas which may help their…

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