in case something happens in your first year of homeownership, Holbert said. You should also have enough monthly income to afford the mortgage payment, taxes and insurance, as well as extra monthly expenses like utilities.has a direct bearing on the mortgage you'll get and interest rate you may pay. If you see any mistakes, have them corrected before you apply for a loan.
"You'll read that if you cut back on your $4 latte habit, it could really help you save for a home," she said. The general rule of thumb is it takes about five years to seven years in a home to recoup the purchase costs, Holbert said. That includes closing costs, which add between 2% and 5% to the purchase price.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Home Buyers Are Finding Ways to Take the Sting Out of Rising Mortgage RatesMortgage rates are at their highest level in more than a decade. Home buyers are fighting back: More borrowers are paying upfront fees and considering adjustable-rate mortgages to lower their monthly payments. Uh oh. Not good. Adjustable rate mortgages, that will end well. That’s how my hardworking parents lost their home.I feel so sorry for anyone trying to buy in this market. That’s why the world go into war zone, The prices is getting higher and higher, the poor can’t affordable
Source: WSJ - 🏆 98. / 63 Read more »
Fed poised to hike rates by half a percentage point to fight inflationThe Federal Reserve is expected to raise interest rates again Wednesday, this time by half a percentage point, in an aggressive step toward combating the highest inflation in 40 years. And this rate hike will help reduce the inflation rate ... sometime in 2023. Already headed for a recession after Q2 results. Quantatave easing should of been stopped a year earlier
Source: washingtonpost - 🏆 95. / 72 Read more »
Here's How Much Cash Retirees Need to Weather a Stock Market DownturnWith high inflation and rising interest rates, many worry about a prolonged stock market downturn. Here’s how much cash retirees need to prepare.
Source: NBCDFW - 🏆 288. / 63 Read more »
Metro Denver apartment rents rising faster than overall inflation, but not as fast as home pricesTenants continue to battle over a limited supply of apartments in the first quarter, pushing up rents by double-digit rates over the past year, according to the latest Denver Metro Apartment Vacanc… Your first sentence is a flat out lie! Denver/area does not a limit of rentals available. The rent is outrages and continues to rise yes. You spit on every homeless family writing this lie while PLENTY of rentals sit vacant and extremely overpriced. This paper is nothing but 💩.
Source: denverpost - 🏆 13. / 72 Read more »
First-time homebuyers 'getting squeezed the most’ between inflation, higher mortgage rates: Real estate expertMacro Trends Advisors LLC founding partner Mitch Roschelle argued that first-time homebuyers are “the ones getting squeezed the most between inflation and higher mortgage rates.” People complaining about 4% mortgage rates like sky is falling. Reason why we are in housing mess is because rates have been artificially low for too long and rich people gobbled up entry level housing to rent out.
Source: FoxBusiness - 🏆 458. / 53 Read more »
How rate hedging has performed so far this yearIf there ever was a time for interest rate-hedge bond funds to prove their value, this year is it. They appear to have won the battle but lost the war, columnist MktwHulbert writes. MktwHulbert Feel Bitcoin is too risky to invest in? Then you haven't gotten the right information, I'm willing to show 10 lucky people how to earn 1 BC($41,910) and more daily- interested only persons should kindly send us a DM to get started
Source: MarketWatch - 🏆 3. / 97 Read more »