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Homeownership

Managing Your Student Loan Debt When Looking to Buy a Home

According to Pew Research, nearly four in 10 adults under age 30 have student loan debt. If you’re among that number, becoming a first-time homebuyer can seem a bit daunting. However, with proper planning, you don’t need to worry that your student loan debt will keep you from qualifying for a home loan. Read on for six practical ways to make home buying feasible as you manage your student loan …Read More

How Much House Can I Afford?

For most people, a home purchase will likely be the largest purchase that they will make in their lifetime. So, it’s important to be as educated on the subject of home ownership as possible. In order to help you out, we have created a list of a few things to keep in mind when looking to see how much one can afford to spend on a house.   How much …Read More

Winterizing Your Home On A Budget

People living on a budget might not take extra steps to winterize their homes, figuring they can’t afford it. But many winterization options are free or very inexpensive, and save a lot of money on heating bills. Don’t let a tight budget prevent you from winterizing every year.   Free things you can do Insulate leaky doors with a towel. Roll up a towel and place across the bottom of …Read More

First-Time Home Buyer Tips

So you and you’ve finally decided to take that next step. You’ve got a steady job, saved up some money and are ready to start a family. You’re ready to buy a home. You’ve picked out the city you want to live in and are ready to finally make that purchase. But before you do, take these first-time home buyer tips into consideration before you sign the dotted line. Is …Read More

Ask an Expert: Does Income-Driven Repayment for Student Loans Affect Homeownership?

Q: I am in a position where I would like to buy my first home but I have some student loans that I’m worried about.  Right now, I am on the income-driven repayment (IDR) plan, will this be an issue I need to consider before taking the leap to homeownership? A: Dear reader, It’s definitely wise to consider your student loans if you plan to become a homeowner in the future. Getting approved for …Read More

How Does a Reverse Mortgage Work?

  As homeowners age and retire, income often becomes unsustainable, and the largest asset they have is the equity that they have accrued on their home over the length of their mortgage. However, with a reverse mortgage, it is possible to receive money from a bank in exchange for a portion of the equity on a house. This process can relieve financial stresses for elderly homeowners, but it does not …Read More

4 Tips to Prepare for Home Buying in a Hot Market

About the Author: Rob Walworth is the Director of Mortgage Sales at BECU.   There is a LOT of advice out there for buying a home. Rightfully so – because unless your last name is Gates or Branson, it’s probably the largest investment you’ll ever make.   As BECU’s director of Mortgage Sales, I’ve helped many people make that investment. While everyone’s finances, like their dream homes, are unique, one …Read More

5 Cities where Homeowners Get Big Bang for Their Buck

 By Steve Nitz A lot of Americans dream of getting a job and moving to a city such as Los Angeles, New York, San Francisco or Chicago and eventually raising a family there. However, it’s not quite that easy when it comes to finding housing. The affordability of a housing market is definitely something to consider when you’re factoring in what part of the country you want to spend the …Read More

An Introduction to 3% Down Conventional Home Mortgages

 By Henry Ochoa For the past few months, private banks have been introducing 3% down conventional mortgage packages. These 3% down mortgages are a way to get first-time homebuyers into a home with a low down payment, as opposed to having to pay the typical 5-20% conventional down payment. Low down payment mortgages are an attractive option for people who live in cities where rent is high and it’s tougher …Read More

Study: Why Millennials Are Waiting to Buy a Home — for Now

By Deborah Kearns of NerdWallet They’re graduating from college, starting new jobs, getting married and having kids. But one life goal that’s eluding a lot of millennials is homeownership, according to a new NerdWallet white paper. It’s not that millennials don’t want to own a home. In fact, NerdWallet, a personal finance website, found that most millennials would like to buy a home but think they can’t afford it. In its analysis, …Read More