Tag Archive: down payment

Four Reasons Why You Shouldn’t Clean Out Your Savings When Buying a Home

August 18, 2014 by 1 Comment

At a certain point in life, you’ll start to see many of your peers become homeowners. They’ve graduated from living with their parents or living in a small apartment and now have spaces of their own to call home. While you might be tempted to join them right away, there are several reasons why doing so without a... View Article

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Advantages of Renting

August 14, 2014 by 1 Comment

In a previous article we discussed the benefits of home ownership, now we will focus on the other side of the coin.  Buying a home is not for everyone, and that is perfectly fine as renting has many of its own benefits.   Many people think that renting is a waste of money, and that is... View Article

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What is PMI? Do I I have to pay it?

August 5, 2014 by Leave a comment

Many homebuyers are confused by private mortgage insurance, better known as PMI. That’s understandable; PMI is a pretty arcane addition to your mortgage loan. But here’s what you need to know: PMI doesn’t protect you. It protects your mortgage lender. And if your down payment isn’t large enough, the odds are high that you’ll have to pay for... View Article

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Should You Lend Your Kids Money to Buy a House?

July 16, 2014 by Leave a comment

Buying a house requires a minimum down payment between 3.5 percent and 5 percent. And unfortunately, it might take several years to save up for a purchase, which can significantly delay dreams of ownership. However, in an effort to help your children realize their dream sooner, you may decide to lend them money to buy a house. Lending... View Article

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Paterson, New Jersey Mortgage Rates and Real Estate Overview

July 1, 2014 by Leave a comment

Thanks to founding father Alexander Hamilton’s pioneering attempts to harness the energy of the Passaic River’s Great Falls in 1791, Paterson, N.J., will forever be associated with America’s industrial revolution. Founded as a manufacturing town in 1792, Paterson was an early symbol of the United States’ economic independence from Great Britain. Since the 1960s, Patterson has suffered from deindustrialization,... View Article

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Rising interest rates make ARMs more attractive with their lower rates. But what’s a better choice these days: a fixed mortgage or ARM?

June 30, 2014 by Leave a comment

Congratulations on making the decision to purchase a new home. For some, this may have been an arduous process, while for others, they may have found their new dwelling quickly. Regardless of the time spent, it’s just the beginning of the home-buying process. Next up is deciding which type of mortgage is for you: should you go with... View Article

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