In most cases, the first home buying transaction is the biggest spending in people's life. Even a small misjudgment could cost you a fortune. Here are some great tips for those who consider buying their
first home.
Get the numbers right. Calculate and determine what you can afford. It's said that your monthly housing cost should not exceed 28% of your monthly gross income. Monthly housing cost includes monthly mortgage, property taxes and insurance. Also, the better the ratio of monthly housing cost to monthly gross income is, the better deal you can find in mortgage loan.
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Washington Report: $15 Billion Housing Market Relief Plan
by Kenneth R. Harney
Capitol Hill was buzzing late last week about what was included -- and what got left out -- of a sweeping $15 billion housing market relief plan.
Though the final details won't be nailed down until both the House and the White House weigh in with their own changes, the odds now look good that some sort of bipartisan legislative package will move forward.
Among the key components in the Senate's initial plan:
Upgrading the FHA mortgage program with permanent new loan limits. The statutory maximum would be increased to $550,000 in high ...
When I heard about Apartment Real Estate Investment Trusts, I thought this could be possibly a good investment option for my family.
More people are losing their houses, therefore there are more people who are looking for a rent. Those who have been waiting for buying a house step back further and are going to wait more. Some of them might think this is a good time to buy a small rental property, probably a 4 or lesser unit apartment. But a major amount of money is still needed for down payment. There is always maintenance to be ...
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