Help for Home Buyers
Be prepared when it comes to making one of life's biggest financial decisions.
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Home Ownership Pros and Cons
Most people consider buying a home at some point in their lives, while others prefer or choose to remain renters. Others don't pursue home ownership because they're not sure if they can afford it.
Learn about the Pros and Cons.
How Much Home Can You Afford?
Calculate the maximum principal and interest amount you can afford to pay each month. How much can you afford?
Home Equity Loans
If you are in the market for credit, a home equity plan may be right for you. Before making a decision, weigh the costs of a home equity line against the benefits.
Read What You Should Know About Home Equity Lines of Credit
ESPAÑOL Lo que usted debería saber sobre las líneas de crédito con garantía hipotecaria
Private Mortgage Insurance
You will want to be aware of a new law that establishes rights for homeowners and rules for lenders regarding private mortgage insurance (PMI) cancellation. More Info
Consumer Alert
You could lose your home and your money if you borrow from unscrupulous lenders who offer you a high-cost loan based on the equity you have in your home. Certain lenders target homeowners who are elderly or who have low incomes or credit problems.
Read Avoiding Home Equity Scams.
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Mortgage Shopping
A mortgage is a product, just like a car, so the price and terms may be negotiable. Shopping, comparing, and negotiating may save you thousands of dollars. Read More ESPAÑOL Buscando la hipoteca más favorable: Compare, Verifique, Negocie Adjustable Rate Mortgages
Adjustable rate mortgages (ARMs) may have low rates only for a short time. This means that the interest rate and the amount of the monthly payment may go up or down. Learn More ESPAÑOL Guía para el consumidor sobre hipotecas a tasa ajustable (ARM) Closing Costs
Mortgage settlement—sometimes called mortgage closing—can be confusing. This information will help you understand all that is involved. Read More Info: A Consumer's Guide to Mortgage Settlement Costs Investor Alerts
With a rising stock market, record low interest rates, and large gains in home value, some investors hope that the investment will not only pay the mortgage, but also generate additional income. Unfortunately, it doesn't always work out that way. Read Betting the Ranch: Risking Your Home to Buy Securities. Don't have the cash for the down payment on your dream house?
While brokerage firm Web sites and brochures often tout the advantages of 100% mortgages, such as allowing investors to avoid private mortgage insurance or liquidating their securities, they may overlook or consign to the fine print the risks associated with these mortgages. Read 100% Mortgages: the Low Down on No Money Down.
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Read Frequently Asked
Questions About Saving &
Investing
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