Finance > Home and Mortgage

Credit Advice For Home Buyers: Don’t Pay Off Credit Cards

Credit needed for real estate mortgage financing differs from credit needed for consumer loans. If you need help getting a home mortgage, these credit tips will help you.

Traditional Versus Interest Only Home Loans

Once only a tiny percentage of the mortgage market; interest only mortgages consist of about 10% of the current market. And mortgage companies seem to advertise them quite a bit these days.

How To Refinance

When you refinance a home loan, it means you take out a new loan and use the proceeds from that new loan to “close out” an existing home loan. The reason a homeowner would refinance is that oftentimes, the new home loan will have a better interest rate than the current home loan. This lowers the monthly payments allowing you to pay off your loan sooner by lowering the payments each and every month.

5 Tips For Savvy Use Of Your Home Equity Line Of Credit

Tapping your home’s equity to pay college expenses, consolidate credit card debt or even to buy a new car or boat is common place. Many economists attribute the additional buying power afforded consumers through home equity debt as a primary reason the nation’s economy has been able to emerge from the recent recession.

10 Things To Look For In A Home-Equity Line Of Credit

If you are a homeowner, you’ve probably received offers to apply for a home-equity line of credit (HELOC) loan. Handled with care, HELOC loans can be an excellent way to improve financial flexibility, provide readily available cash reserves for emergencies, or pay for large expenses (like college tuition or home improvements) that have irregular payment schedules. But be aware that not all home-equity credit lines are created equal.

Decision Time: Home Equity Loan Or Home Equity Line Of Credit?

Home equity loans and home equity lines of credit continue to grow in popularity. According to the Consumer Bankers Association, during 2003 combined home equity line and loan portfolios grew 29 percent, following a torrid 31 percent growth rate in 2002. With so many people deciding to cash in on their home’s equity value, it seems sensible to review the factors that should be weighed in choosing between out a home equity loan (HEL) or a home equity line of credit (HELOC) loan.

Determining Your Home’s Value

Determining your home’s value, and setting a price, is probably the most important step in selling your home. Why? Because if your home is overpriced for your area, no matter what the cost of improvements that you have made on your house, buyers will shy away from it.

Installing Ceramic Tile

Ceramic Tile brings a texture, richness and color to a room that Linoleum has yet to truly mimic. Tile floors can be installed in any room, however they are most frequently seen in Bathrooms and Kitchens. I particularly like them in entryways, where they serve as a transition point from the outside to large carpeted or hardwood floored rooms. They make for easy clean up and are impervious to water damage.

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