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Source: Forbes Advisor
The decision to buy a home can be daunting, especially if it’s your first time and you’re competing in a hot housing market. Even if you easily qualify for a mortgage loan, the money you need for a down payment—plus closing costs—raises significant obstacles for new homebuyers.
This is why a lot of federal and local government programs exist to increase homeownership opportunities for as many Americans as possible, particularly those with low to moderate incomes. These programs, including the Mortgage Credit Certificate (MCC), help you take that initial step on the first rung of the property ladder.
Source: BankRate.com
If you’ve been touring homes for sale, you might be thinking about how you might change them to better suit your style — or, if you haven’t had luck finding the “one,” you might even be considering whether you should build a home instead of buy one, and how much it would cost.
Is it cheaper to build a house? Building a home might seem cheaper than refitting an existing structure to meet your needs. In truth, the difference might not be so huge.
Source: Forbes Advisor
As a homeowner, there’s added financial responsibility on your hands, including the mortgage, property taxes, home maintenance and other expenses. There’s a possibility you’re also shouldering high-interest debt such as credit cards. Fortunately, there are ways to pay down your debt down faster with the help of your home.
A home equity loan allows you to use the equity in your property to consolidate debt at a lower interest rate. However, this strategy does come with some drawbacks. Here’s what you should know.
