Are you considering buying a house with an interest-only loan? We rounded up the 5 most common questions about this type of loan and came up with the best answers from the experts. What is an interest-only loan? The interest-only period typically runs for 5 years (10 years max), after which the loan

In a very competitive housing market, buyers need to step up their game in every way possible. They need to establish that they have a good credit score, a mortgage pre-approval, and a reasonable offer with fewer contingencies. However, if sellers are faced with multiple offers from buyers who are a

An appraisal is an integral part of the home buying process as it determines the objective value of a property. Lenders require an appraisal to help them evaluate a home before they issue a mortgage. Appraisals are done by trained and licensed appraisers, who will then give an unbiased report of the

The process of looking for a home in your golden years could be a bit different from when you were looking for a home to build a family in. Now, you can focus on what will make YOU happy. Your children have found homes of their own, and you're now free to choose a new home to create new memories in.

Time You may think that you're saving a lot of time by not going through the process of looking for and hiring a realtor. However, not having an expert to oversee all of your transactions can actually cost you more time in the long run. Even if you've sold one of your houses before and have a pretty

According to the National Association of Realtor's Schools and Home Buying Decision article, proximity to good quality schools is one of the most influential factors in a buyer’s decision when purchasing a home. It is a major factor especially for buyers with families or young couples who are planni

What is an appraisal? An appraisal is a professional estimate of the value of a home done by a certified appraiser. It is a critical process for buyers because lenders always require a home appraisal before they issue a mortgage. Meanwhile, for sellers, a good understanding of the appraisal process

You may think that your house is the only thing that needs to be in its best shape during the selling period. But the truth is, how you are as a seller holds an equal amount of importance to your potential buyer. They may like the house, but if they don't like who’s selling it, they probably won’t p

You are finally done with house hunting, and you think you're ready to make an offer. What are the things you have to consider in settling on a price? Here are the top 10 things you should know to successfully close the deal with your offer. 1. Your budget Before even thinking about looking at house

Before you can be honest with anyone else, you have to be honest with yourself first. The first step to effective communication is knowing what YOU truly feel and what you really want to say. Before talking to an agent, be sure that you are 100% ready to sell your home. You don't want to make imprac

Homeownership is beautiful and rewarding. It gives you the freedom to add any renovations you like and turn your home into your safe haven. However, if you're even considering selling your home in the near future, then you have to be very careful in deciding what improvements you’d like to add to yo

They say buying a house together test a couple's relationship like no other. It’s undoubtedly true because many factors come into play when it comes to real estate, and little challenges can become difficult problems in a relationship later on. If you both share the same preferences, then it shouldn

As a home buyer, there were many tips you must have followed to ensure a smooth flow in your home purchase. And finally, after the actual closing, congratulations on being a new homeowner! However, the work doesn't stop after arranging for movers to bring your stuff and ordering new appliances. Ther

Just like any sale, both the buyer and the seller have their own rights in making a home purchase. Are you knowledgeable about these? Don't get into a deal just yet if you don’t know your rights! In investing in a property, you must be familiar with your own legal advantages and limitations, and alw

Choosing the right home is much like finding the best candidate for a job opening. You're the boss and the house is your potential new employee. But more than only seeing a new face in the office 8-9 hours a day, 5 times a week, you’d be living with (or in it) for up to 24 hours a day! But since hou

Whether you are buying, selling, investing, or simply enjoying being a homeowner - there's no reason why you wouldn't want your house to be in its best shape.. For buyers (especially first-time home buyers), you may already have a list of the features you want in a home, but it would be great to con

If you keep dogs, cats or other pets and regard them as family members, you're more likely to keep their needs in mind when purchasing a home. Some people even think of their pets as their “furever friends” or their “furbabies,” so their home buying preferences and decisions will be greatly influenc

  The main reason cited by non-homeowners as to why they currently do not own a house is because they cannot afford to buy one, as revealed in the 2018 NAR Aspiring Home Buyers Profile. The results are highest at 56 percent in the last quarter of 2017. Also, many home buyers have already indicated t

  1. Overpricing and underpricing Perhaps the most common mistake home sellers make is pricing the house too high because of an array of reasons: the house means so much to them, they're looking to buy a more expensive home or trying to pay off debt, or they believe that interested buyers will ask f

Since the housing crash in the late 2000's, the real estate market in the United States has regained its composure, which paved the way for low-interest rates and limited housing inventory. This may look ideal for sellers but a burden to homebuyers (and even renters!) because they have to face incre