How to Pick your Lender for your First Home or Refinancing

Your lender is one person that can make or break you with finances towards your home. Before you become involved with anyone that will involve your money, you need to make sure that they are going to offer you the best. Once you know some basic concepts, you can begin to find a lender that will fit your needs. The first set of characteristics that you will want to look for with a lender is with the type of loans that they will offer and the policies that are set next to them. The loan that is offered to you should fit your individual financial needs and give you the benefit of the financial world. This doesn’t just include the loan types, it also includes the extra fees that are attached to loans and how these will differ with you. You should also ask about things such as pre-payment penalties …

100% Mortgage Refinancing – How To Get Approved

100% mortgage refinancing allows you to borrow against your equity, while hopefully lowering your interest rates. To get approved for a cash out refinance, you need to have excellent credit. Otherwise, you need to work with a sub-prime lender or apply for a line of credit. What 100% Refinanced Mortgage Can Do A 100% refinanced mortgage can allow you to take out all of your home’s equity. Anytime you cash out part of your equity, your refinance rates will increase. But rates will be lower than if you take out a second mortgage. However, with no equity, you will need to carry private mortgage insurance. But if you choose a sub-prime lender, you don’t have to worry about paying premiums. Improving Your Application Lenders are primarily concerned that you can repay the loan. Without equity, lenders look at other factors, such as income, cash assets, and credit history. Income is …

How to Save Your Home from Foreclosure

The Great American Dream of homeownership is what many in our country diligently strive for. Homeownership brings many benefits, as well as responsibilities. Entrance into the status of homeowner may come with little or no cash investment for a down-payment. The loan that is obtained by a first time homebuyer is usually a special loan designed to assist those in the entry level, who have not yet accumulated a substantial sum for the down-payment. Banks will always prefer to lend to a borrower that has more to invest. Usually, the desired amount is at least ten or twenty percent of the purchase price in the form of cash. Almost without exception, the banks or mortgage lenders will make special loans with very little or no down-payment to a homebuyer because the loan is usually insured or guaranteed against loss of principal by a governmental or quasi-governmental agency. First time homebuyer …

Shopping Smartly and Strategically – Financially Preparing for Your First Child

Your first pregnancy can be the most exciting time of your life, one of joyful anticipation. It’s a time filled with ultrasounds, nursery decorating, and a baby shower. It is also one of the most important times for you and your spouse to create a budget and stick to it. While it is true that you can expect some gifts for the baby, it is also true that a great deal of it is an unnecessary luxury and/or of zero use for a newborn infant. The authors offer a range of ways to save up to 50% on baby essentials. They also offer helpful advice on how to sketch out a baby budget, such as: * Maternity/nursing clothes: $50. * Stroller, car seat: $500. * Baby sling/carrier: $50. * Swaddling: $40. * Teething blanket: $10. * Crib with mattress: $200. * Traveling crib/playpen: $200. * Changing table and dresser: $400. …

Financially Preparing for Your First Child

Many people dream about growing up and having a family, but very few people are practical enough to calculate how much it will really cost. The truth is that your dream come true can become your worst nightmare if you don’t plan ahead financially. Your new bundle of joy can end up costing a bundle unless you are organized and prepared to pinch every penny until it screams. In this guide, we will be discussing how to budget for your first baby and practical action steps you need to take to secure your and their financial future. Let’s start with a look at the actual projected costs of raising a child.   1. The Average Cost of Bringing Up a Child The most recent estimate for the average cost of bringing up a child comes from CNN Money. As of January 9, 2017, they estimated that it cost $233,610 in …