When you buy a home, you probably focus on saving for a down payment. You know you need a big chunk of money to get the home you want. But after the down payment, there are the closing costs to consider. If you overlook this expense, you could find yourself thousands of dollars short when it’s time Read more
How Can You Use Seller Concessions?
Buying a home means more than coming up with a down payment and affording the mortgage payment each month. You also have to be able to afford the closing costs. With closing costs totaling between 5-7% of your loan amount, that’s no small chunk of change you must come up with to buy a home. Luckily, Read more
Tax Deductible Settlement Statement Expenses
Whether you refinance a mortgage or buy a new home with your mortgage, you’ll pay fees. Luckily, many of those fees on your settlement statement provide you with tax deductions. Knowing which expenses you can write off and which you cannot may help you negotiate the best terms for your Read more
Why “No Closing Cost” Home Loans Still Cost You
You hear that you have the option to get a “no closing cost” loan. You immediately, think “Sign me up!” Who wouldn’t want to save thousands of dollars on their refinance? But, before you do, there are some considerations you must make. While the name makes it seem like the loan does not cost you, in Read more
Pros and Cons of a No Closing Cost Refinance
Refinancing costs money. Any time you take out a new mortgage, the lender incurs costs. They pass those costs onto you. How you pay them is up to you. There are a few choices including paying them in cash at the closing; rolling them into your loan; and letting the lender pay them. The last two Read more
