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Buying A Home

Personal Finance 2021-04-10T13:15:00Z

A financial planner has 2 simple formulas to figure out how much house you can afford

A financial planner recommends multiplying your gross annual salary by three or five to find out how much home you can really afford to buy.
Personal Finance 2021-04-01T14:04:16Z

The average mortgage closing costs, by state

Your mortgage's closing costs depend largely on the state where you're buying a home, and if you have to pay property taxes up front.
Personal Finance 2021-03-29T16:54:04Z

Fixed-rate vs adjustable-rate mortgage: How to decide which one you should get

The two most common types of home loans — fixed-rate and adjustable-rate mortgages — each have pros and cons.
Personal Finance 2021-03-25T19:24:56Z

Losing my pregnancy was the push I needed to stop wasting money and save enough to buy a house

The author was sharing a three-bedroom rental with her parents and sister when she found out she was expecting again.
Personal Finance 2021-03-23T13:59:01Z

I know people dream of paying off their mortgage early, but after doing the math I'm taking my time

Even though he's carrying a large mortgage, he's comfortable choosing not to pay off his mortgage early so he can invest his spare cash instead.
Economy 2021-03-10T14:19:12Z

House hunters are snapping up multigenerational homes, and it's reshaping how the typical American family looks

Fifteen percent of US homebuyers bought multigenerational homes last year, the most in nine years of tracking by NAR. The change might be permanent.
Personal Finance 2021-02-27T13:30:00Z

Buying an 'awkward' property helped me spend less every month and pay off $60,000 of debt

Her "awkward" home is a garden-level unit. Because of its unusual qualities, it cost less than many other homes in the area.
Personal Finance 2021-02-24T18:54:31Z

I thought I'd be a renter forever, but the pandemic showed me it's not a wise choice

Seeing the dearth of eldercare options in her home country, The Bahamas, during the pandemic has highlighted the need for her own stable housing.
Economy 2021-02-19T17:44:16Z

The millennial wealth gap is growing as some flock to buy houses and others give up on homeownership entirely

More millennials became homeowners in 2020 than any other generation. At the same time, more millennials now believe they'll never own a home.
Personal Finance 2021-02-16T19:50:05Z

If I'd known 3 truths about buying a house before I took the plunge, I would have saved myself a lot of stress

The author bought her dream home in Asheville, North Carolina last year, but not before dealing with a host of stressful financial issues.
Personal Finance 2021-02-16T19:17:28Z

3 expensive surprises cost me over $2,300 in my first month of homeownership

The author and her husband were prepared to pay for a handful of planned repairs and renovations, but there were still costly surprises.
Personal Finance 2021-02-11T17:52:31Z

A couple who paid off their 30-year mortgage decades early shares the 4 strategies they used to do it

A big down payment and reserving one spouse's income entirely for the mortgage helped them pay off their 30-year mortgage in two years instead.
Personal Finance 2021-02-06T13:25:00Z

3 professional pieces of money advice you can't afford to ignore when you buy a house

A financial planner warns that homebuyers should also consider closing costs, maintenance, and a property's impact on other savings goals.
Personal Finance 2021-02-03T19:54:22Z

What credit score is needed to buy a house? It depends on your lender and loan type

For conventional loans, you'll need a credit score of at least 620. But with FHA, VA, or USDA loans, you may be able to qualify with a lower score.
Personal Finance 2021-02-02T20:01:23Z

8 surprise expenses that cost me a fortune in my first month of homeownership

When she bought her house, she was surprised to have to pay for underground root eviction, new locks, Private Mortgage Insurance, and more.
Personal Finance 2021-01-23T14:18:00Z

I bought a foreclosure that came with over $15,000 in unexpected costs, but I still think the house was worth it

She knew buying a foreclosure would come with some headaches, but she didn't expect an extra $15,000 in surprise costs.
Personal Finance 2021-01-20T19:01:20Z

5 things I wish someone had told me before I bought my first house

Few things are as exciting as the purchase of your first home. But buying a house is a big endeavor, and going in blind can cost you a fortune.
Personal Finance 2021-01-17T13:19:00Z

After wasting $500 on my home warranty, I'm taking 2 steps to pay for repairs without going into debt

After calling their home warranty company a few times for repairs and maintenance — and getting nowhere — they decided to save their money instead.
Personal Finance 2021-01-13T15:48:05Z

When I bought my house I was hit with over $1,500 in surprise expenses, but I had the money thanks to a simple piece of advice I followed religiously

The author's savings strategy changed when she read a piece of advice: Keep your emergency savings separate from your down payment fund.
Personal Finance 2021-01-12T15:58:26Z

For years banks have asked for 20% down on a mortgage, but cash-strapped Americans are buying homes with less

Putting 20% down on a mortgage can feel out of reach for today's homebuyers. Making a smaller down payment is becoming more common.
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