The Initial Costs of Buying a House: It’s Not Just the Down Payment

When buying a house, many people just worry about having the down payment and getting approved for the mortgage.  However, that's not all you have to worry about monetarily.  Although the down payment may be a significant part of your home purchase, there are many other costs associated with owning a house.  In this article, [...]

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Difference Between Home Equity Loan and Home Equity Line Of Credit

A home equity loan and a home equity line of credit has many similar facets so it can be confusing sometimes.  For instance, both programs let you borrow up to 85% of the value of your home and both use your house as a collateral.  However, there are some very important differences that you need to [...]

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Do 80/20 Piggyback Loans Still Exist?

Since 2008, we have seen a rapid decline of available home loan programs due to the credit crisis.  No longer are banks allowed to give out mortgages with unverified income.  And the days of no-down payment loans are over.  There is a duality to this tightening of credit.  The tigthening of credit has made it [...]

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What Is The Average Credit Score?

The average FICO credit score in the United States is a 687.  The medium credit score in the US is a 723.  Which one is a better determinant of the credit worthiness of Americans?  In assessing credit scores, the medium is a better indicator when assessing the credit scores of Americans on the aggregate.  That [...]

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Advantages of Buying a House

In recent years the practice of home buying in our country, with all the accompanying grief and debt of subprime mortgages has given the whole “American dream” a bit of a bad name. In the past we may have been taught that buying and owning a home was an inalienable right, and a mighty good [...]

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