Category: Budget for Home

Rent to Own the Home of Your Dreams

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Rent to Own the Home of Your Dreams

At a time when the cost of buying a home is escalating due to rising interest rates and a limited supply of houses on the market, potential buyers are looking for new ways to finance their home purchase. Enter Rent-to-Own. Imagine renting the home of your dreams, but in addition to getting a place to.....

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Getting Your Credit in Shape to Buy a Home

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Where Credit is Due

Thinking of buying your first home? If you’re planning to apply for a mortgage, you better get your credit in shape now. That’s because your credit score—a number based on your credit history that represents your creditworthiness and the likelihood you’ll repay your debts—is one of the most important factors in qualifying for a mortgage......

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Down Payment Resources

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Down Payment Resources

How to Gather Cash for a Down Payment Fear about saving enough money for a home purchase holds back many buyers, but you may need less and have more ways of getting cash than you think. According to the National Association of Realtor’s Housing Opportunities and Market Experience (HOME) survey, more than 80 percent of.....

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How Much Can You Afford to Spend on a Home?

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How Much Can You Afford to Spend on a Home

While it might be tempting to look at homes on the market where you want to live and decide that you can “afford” a place you want, purchasing a home requires more financial preparation than just an estimate of your monthly payment. A common rule of thumb is that you can afford to buy a.....

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The True Cost of Homeownership

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Cost of Home Ownership

Renters have it pretty easy when they calculate their housing costs: add together your monthly rent, your utility bills and your renter’s insurance premium and you’re done. You may also want to include your security deposit, but chances are high that if you’re a good tenant you’ll get that money back when you move. For.....

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Don’t Overextend With a Sales Price

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Don't Overextend With a Sales Price

A mortgage is the tip of the house expenses; avoid becoming house poor. You’ve found a wonderful home, but buyers beware. The thrill can wear off faster than a first love. The term "house poor" looms. A mortgage, real estate taxes, and homeowners insurance are just the tip of the house-expense iceberg. There may be.....

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