Guides
Mortgage Guides
Plain English guides on PMI, FHA versus conventional, closing costs by state, refinancing math, and the rest of the mortgage puzzle. Written for first time buyers who want the full picture, not a sales pitch.
Insurance
PMI Explained: When You Pay It and How to Finally Get Rid of It
So I was helping my cousin shop for her first house last spring, and the loan officer threw out this phrase casually: "You'll have...
Loans
FHA or Conventional: Which Loan Fits You Better
My neighbor sold his starter home last year and bought something bigger. The whole process took him three months because he kept flipping...
Costs
Closing Costs by State: What Buyers Really Pay at the Table
I had this moment, a couple of years back, when I was helping my sister review her closing disclosure. She had budgeted for closing costs...
Buyers
First Time Buyer Mistakes That Cost People Thousands
I have watched three friends buy their first home in the last two years. One did it well. Two of them made expensive mistakes that are...
Costs
The True Cost of Owning a Home, Beyond the Monthly Mortgage
Here is a question I asked my parents a few years ago. If a mortgage payment is 1,800 a month, how much does the house actually cost you...
Loans
VA Loans: Benefits a Lot of Veterans Overlook
A guy I used to work with served four years in the Marines, came home, and bought a house with a conventional loan. He put twenty percent...
Loans
USDA Loans: The Rural Mortgage Program Most Buyers Have Never Heard Of
My friend Alex bought a four bedroom house with no down payment and did not use the VA program. He is not a veteran. He used a USDA loan,...
Loans
Jumbo Loans: What They Are and When You Really Need One
A few summers ago my cousin tried to buy a condo in San Francisco for 1.2 million. He had a good credit score, a solid down payment, and...
Buyers
Down Payment Assistance Programs by State: What Nobody Tells First Time Buyers
My roommate from college bought her first house last year with 1,500 total out of her own pocket. The down payment, closing costs, and...
Costs
Property Tax Deductions: What Homeowners Can Actually Write Off
Every spring my parents call me because they want help with their taxes. Last year they handed me a stack of papers and asked why their...
Costs
Mortgage Discount Points: Should You Actually Buy Them Down?
My uncle called me last month, worked up about something a loan officer had told him. The officer had offered him a chance to buy down...
Rates
15 Year vs 30 Year Mortgage: The Numbers Nobody Puts in Front of You
My dad has been pushing me to get a 15 year mortgage ever since I started looking at houses. His argument is always the same, "You...
Rates
ARM vs Fixed Rate: Which One Actually Fits Your Life
Ten years ago, almost nobody was shopping for an ARM. Fixed rates were so low that locking in for 30 years at 3 or 4 percent felt like a...
Rates
Refinancing: When It Actually Pays Off and When You Should Not Bother
My neighbor refinanced his mortgage twice in two years. The first time saved him real money. The second time was a mistake he still...
Insurance
Homeowners Insurance: What Your Lender Actually Requires
My mom's insurance renewal came in forty three percent higher this year than last. She almost had a heart attack. Her agent explained...
Rates
How Your Credit Score Changes Your Mortgage Rate
A friend of mine applied for a mortgage back in March. His credit score was 712, which he thought was decent. The rate he was offered was...
Finance
Debt to Income Ratio: The Number Lenders Actually Watch
A guy in my grad program had a 790 credit score, 100,000 in savings, and could not qualify for the mortgage he wanted. His problem was...
Buyers
Preapproval vs Prequalification: The Difference That Actually Matters
Last summer I watched my friend lose a house because she thought she had a mortgage approval and did not. The listing had multiple...
Costs
HOA Fees: The Hidden Monthly Cost Buyers Keep Missing
A guy I know bought a townhouse last year. His principal and interest payment was 1,650 a month. He budgeted for that plus taxes and...
Costs
Escrow Accounts: Where Your Mortgage Money Actually Goes Each Month
My aunt opened her bank statement one month and panicked. Her mortgage payment had jumped from 1,800 to 2,250 for no apparent reason. She...
No guides in this category.