FHA loans are an attractive opportunity. These home mortgages have easier qualifying guidelines, and the minimum down payment is just 3.5% of the loan amount. Those easy terms appeal to both investors who want to buy a rental property and home buyers who intend to occupy the home themselves. However, only owner-occupants can qualify. The question, is how […]
Everyone deserves to live in a decent, safe, and sanitary home. But not everyone can afford a home that meets those criteria. That’s why the federal government offers the Section 8 Housing Choice voucher program, which subsidies rent for very low-income families, as well as elderly and disabled people. Section 8 recipients aren’t forced to live in housing […]
“You need a new HVAC system.” Those six words can stop the heart of even the most experienced homeowner because a whole new HVAC system can cost anywhere from $5,000 to $10,000—or more in the United States. HVAC stands for heating, ventilation, and air conditioning and is also known as a home comfort system. The […]
Are hurricanes or tornadoes an annual occurrence in your town? If so, a storm shelter could be a smart (and potentially life-saving) investment. These sturdy structures give you and your family an enclosed place to wait out high winds and dangerous weather. It may give you peace of mind knowing you have a safe place […]
If you’re like many (or perhaps most) Transportation Network Company (TNC) drivers, you don’t have a taxicab license and you didn’t register the car as a commercial vehicle. Instead, you probably have a personal auto insurance policy. That’s good to have. But it’s not enough if you want to give rides to other people and […]
Are you debating between gap insurance or new car replacement coverage? These are some things to consider. Suppose you buy a brand new car that becomes totaled just a few weeks or months later due to a car accident. Could you afford to pay off the balance on your car loan and buy a replacement […]
Wouldn’t it be cool if your auto insurance company “forgave you” and didn’t increase your rate if you got involved in a car accident? Well, good news – many companies do! This benefit is known as “accident forgiveness,” and some companies include it as part of their standard auto insurance policy. Others offer it as an […]
In a perfect world, no one would ever be involved in a car accident or need car insurance. But in the real world, accidents happen. If you were in an accident that left your car badly damaged, to the point that you were unable to drive it, how would you get where you needed to […]
The federal Tax Cut and Jobs Act signed into law in December 2017 was a big deal for homeowners. So big that it could motivate some to refinance their mortgage or pay it off altogether. But the law made a number of changes that could affect taxpayers who buy or already own a home. So […]
One of the many complicated facets of auto insurance is who—or what—is covered by an auto insurance policy. Is it the car? The driver? Or both? The answer isn’t obvious, and the question leads to other questions, like: Can you drive someone else’s car if you have insurance, but the other person doesn’t? Can someone […]
If you’re planning to rent a car, you might be wondering whether you need rental car insurance. The answer is yes. “You are required to have insurance when you rent a vehicle,” says Kevin Patrick, owner and founder of Kevin Patrick Law, a law firm in Atlanta that handles car accidents and other personal injury cases. […]
Car insurance companies obviously want to be paid, which is why most make it easy for you by offering multiple payment options. Different insurers offer different options, though. For example, there is some auto insurance that accepts PayPal. Auto Insurance That Accepts PayPal For example, some auto insurers have accepted PayPal for many years. The […]
Almost all home mortgages have a term of either 15 or 30 years. The term is the length of time you have to pay off the loan through a pre-set schedule of monthly payments. As the name suggests, the 15-year loan allows 15 years. The 30-year loan allows 30 years. So, which is better: a 15-year mortgage […]
Managing your auto insurance isn’t just about paying your premiums. It’s also about getting money-back bonuses, refunds, and discounts from your insurer. The most attractive bonus you’re likely to find is the cashback you could get if you avoid accidents on the road for a specific period. If you don’t shop around and compare quotes […]
A 15-year fixed mortgage can be an attractive choice for home buyers and homeowners who want to refinance their current home loan. However, it’s not always a smart or even viable option. Here are the pros and cons you should consider before applying for a mortgage refinance. 15-Year mortgage: pros and cons On the pro side, […]
The decision to refinance your mortgage can be challenging, especially when you’re trying to accomplish two different objectives at the same time. Rather than evaluate your term and rate together, let’s break it down and look at these objectives separately to understand whether they make sense for your financial situation. Should I switch from a […]
Refinancing your home mortgage into a shorter term can be a smart move. But you should be prepared for the costs of refinancing and able to handle a much higher monthly payment. Examples of good reasons to refinance might include: Securing a lower rate Locking in a fixed rate instead of a variable Removing a borrower […]
In today’s market, a 20% deposit on a new home can be overwhelming. But put down less, and most lenders want protection from loss should you renege on the mortgage payments. This article explains how to avoid paying PMI (private mortgage insurance). How to avoid paying PMI: What and why In December last year, 76% […]
Traditional conforming home mortgages require private mortgage insurance (PMI) if you make a down payment that’s less than 20% of the home’s purchase price. PMI adds a fee, usually from 0.5% to 1.5% of your loan amount, to your monthly mortgage payment. This fee pays for mortgage insurance, which protects your lender’s interest in your […]
In the world of home mortgages, PMI – private mortgage insurance — has a terrible reputation. 20% Minimum down payment required to avoid a private mortgage insurance payment with a conventional mortgage. Articles and experts warn home buyers not to pay for it. But why all the fuss? And if PMI isn’t for you, how […]
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