And when you are ready to fund your project, SayHomeBuy.com
uses a referral network of lenders and brokers nationwide segmented
by City/State to help find the best rate and terms for home purchase loans. Click
to view our national network.
Home Buying Tip for the Week of September 08
Looking for a home to buy? Can you afford it? Review our home affordability tips for a summarized review of how to prepare yourself to afford your new home.
I mentioned last week that the second home market is worth considering right now, if that is something that you think might be right for you. Granted, not everyone has the funds to swing a second residence, but if you do there is a good chance you’ll pay less for the property than what it would have sold for in 2006.
As appealing as a second home may sound, whether for your personal enjoyment or as an investment or both, there are some things to mull over before you take the plunge. Owning one home can take up enough of your time; owning two homes could eat up all of your free time.
Prior to 2007, at least for the first several years of this decade, qualifying for a mortgage wasn’t nearly as difficult as it is today. Mortgage qualification standards were lowered for a time, meaning tens of thousands of homeowners purchased homes who should have never been qualified in the first place.As a result of the lowered standards, many of these same homeowners have defaulted on their loans, unable to keep up with payments. Creditors have finally raised the bar, making it tougher for consumers to qualify for a home loan.
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SayHomeBuy.com is a member of the SayPlanning life-event network where we help consumers and small business owners address and achieve important life decisions.
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