Condos can be a great fit for military buyers, especially for those frequently on the go. You can absolutely look to use your hard-earned VA home loan benefits to purchase a condo. But there are some things you need to know in advance to help the condo purchase go more smoothly. Out of the gate,
The last two years of your life are very important to a mortgage lender. They will want to know everything about your income, assets, credit and employment during this time period. These facts about your life let the lender know many things about you, including your ability to have a consistent, stable life. A consistent
The VA Loan program was created in 1944 to help veterans and active duty military become homeowners. The government backs portions of loans through approved lenders, allowing veterans to get mortgages with favorable terms. If you’re interested in learning more about VA loans, here are the basics. Eligibility Both Veterans and active duty service members
Follow these 5 strategies to ensure you meet your long-term goals. Why is it so difficult to stick with a long-term savings plan even when we truly consider our future goals to be just as important as — if not more than — our current desires? Chalk it up to our hardwiring: The rational side
Walking away with a profit on your home sale is an exciting proposition. But there’s one thing that can suck the excitement right out of such a positive financial move:the threat of taxes on your investment gain — otherwise known as the dreaded capital gains tax. Luckily, the Taxpayer Relief Act of 1997 helps many
You pay all your bills on time and you work hard to earn more — so you can save more. Your credit score reflects your savvy money management skills, and you can proudly boast that you’re a member of the 730-and-up club. Your partner? Not so much. Whether due to past actions or financial mistakes
When it comes down to it, this is not a simple or straightforward question. There are so many variables that you really need to whip out a calculator, talk to your CPA, visit a financial planner and/or retirement specialist, and so on and so forth. It also depends on your mortgage rate, your tax bracket, how
FHA loans are popular with mortgage borrowers because of lower down payment requirements and less stringent lending standards. Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the
Depending on who you ask, combining finances with your significant other is either a positive step towards establishing a life together OR the worst idea ever. If you’re considering it, here are some pros and cons to weigh. Pros Teamwork If you’re on the same page and your financial priorities are fully aligned, you’re likely looking
