Home Financing

Home financing is one of the most complicated aspects of buying, building and/or owning a house. There are so many things to consider that it can be overwhelming. We aim to help you navigate your most pressing questions so you can focus on the joy of home ownership. From construction loans and mortgage rates to pricing and hidden costs, we’ll cut through the noise and give you the answers you need from industry experts.

Recent Home Financing Articles:

 

9 Easy Mistakes Home Owners Make on Their Taxes

By: G. M. Filsko - Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®. tax returnDon’t rouse the IRS or pay more taxes than necessary — know the score on each home tax de... [Read More]

 

What You Should Know About Your Home and Your 2013 Taxes

By: Dona DeZube - Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

It’s the last year for three sweet home tax benefits, but the first for a way simpler home office deduction.

tax returnThese days few things start a fight on Capitol Hill faster than taxes. Despite the fac... [Read More]

 

The Home Buyers Most Frequently Asked Question – The Price

How much do your homes cost per square foot? This is a very difficult question to answer. The better question is “what is included in the home for the price”? There are many items in a home that is specific to a particular home plan that determines the price. Some items that affect the price are listed below.

 

What Does Homeowners Insurance Cover?

By Dona DeZube – Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®. You’d be surprised at what your home insurance policy doesn’t cover. Here’s what is and isn’t covered by your insurance. What does your homeowners insurance cover? The short answer is: “A basic homeowners insurance policy (called HO-1 in insurance lingo) covers your home and possessions if they’re damaged or d... [Read More]

 

Unwrapping the “Hidden Costs” of Building a Home – Closing Costs

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Closing Costs

Closing Costs are something people have a tendency not to consider and they are not small amounts by any means. Below is a listing of some of the most common costs and fees. Banking Fee’s:
  • Origination Fee – This is your application fee to the lender to start the lending process.
  • Appraisal Fee – Lenders hire an appraiser to make sure the value is there for the money you ar... [Read More]

 

5 Steps to Keep Your Home Purchase on Track

By G.M. Filisko - Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®. You’ve found your dream home. Make sure missteps don’t prevent a successful closing.
  1. Be truthful on your mortgage application You may think fudging your income a little or omitting debts wh... [Read More]

 

Contacting a Lender is an Important 1st Step to Building Your New Home

There has been a shift upward in home mortgage rates over the past 60 days…not a big one mind you but enough of an increase that a critical "1st call" is to your lender as you begin discussions with a builder about building a new home. Whereas in the past, over 3 years ago, you could call your lender over the phone and get a rough idea what your financi... [Read More]

 

Unwrapping the “Hidden Costs” of Building a Home – Utilities

Utilities:

The cost of utilities is mostly influenced by the land you purchase to build on. Power: Do you have a public utility power source to the property?  Then depending on the size of your lot and location of the home, you will have costs in getting that power source to the home and if you need to run the power source farther than the Electric company allows under normal conditions there may be additional charges from the power company to g... [Read More]

 

4 Tips to Determine How Much Mortgage You Can Afford

By: G. M. Filisko By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.
  1. The general rule of mortgage affordability As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000. To understand how that rule applies to your particular financial situation, prepare a family budget and list all the cos... [Read More]