Mortgage

August 20, 2019Not to be confused with the appraised value of your home, the assessed value is what the government uses to calculate property taxes. Meant to be utilized regardless of market conditions, the assessed value is generally 20% to 40% lower… read more…

August 20, 2019If you’re planning on having a wedding to celebrate your union, expenses can add up fast. And, depending on where you live, nuptials can be extremely stressful to plan, since they involve finding vendors for a seemingly endless number of needs. There are some cities, though, where it is better and cheaper to plan a… read more…

August 20, 2019Lawyers work in a variety of capacities. While many work in private and corporate legal offices, others work for federal, state and local governments. The particular specialties lawyers have may determine the place best for them to live to suit their professional needs. However, other location-based factors may also play into decisions on where lawyers… read more…

August 15, 2019Owning a pet is an investment, and choosing an affordable and pet-friendly city is an important consideration for renters or people looking to buy a home. Dogs are one of the more expensive pets to have since they often require more care than other animals. In order to discover where owners could best raise their… read more…

August 14, 2019There comes a time in most people’s lives when they realize it is time to ditch the fifth-floor walkup studio apartment and move into a home big enough to raise a family in. You have to balance finding a home with enough room to accommodate your growing family, with living someplace close to employment and… read more…

August 1, 2019Teachers are some of the most important people in our society, educating young people and molding the leaders of tomorrow. While being a teacher is certainly rewarding, it isn’t always the most lucrative of professions. But various considerations such as housing costs, income and union support can make certain metro areas more attractive than others… read more…

July 31, 2019In 2016 at 56 million strong, millennials became the largest generation in the U.S. labor force, according to Pew Research. This means that millennials make up more than a third (35%) of labor force participants in the U.S. Their success as young professionals can have an outsize effect on their finances throughout their lives. Having a… read more…

July 25, 2019Making a decision to move to a particular place involves taking into account many factors, including career opportunities and what mortgage payments might look like. But does the choice of a particular locale say anything about trends across a specific socioeconomic class and generation? While wealthy people of Generation X, for example, are headed down… read more…

July 24, 2019For those who don’t own a house, rent is one of the most important expenses to account for in a household budget. Keeping your rent-to-income ratio at a reasonable level allows you to use your money for other things, like saving for retirement and stockpiling enough cash to make a mortgage down payment. But because… read more…

July 23, 2019Editor’s Note: This study was originally published in July 2019. When buying a home, there are a lot of considerations to weigh. One of them is how the value of your home is likely to change in the years you… read more…

July 18, 2019Some places are more family friendly than others. When deciding where to take out a mortgage and raise your children, it is important to consider not only an area’s cost of living, but also the benefits an area can provide in terms of education, health and entertainment. In order to determine some of the best… read more…

July 16, 2019The millennial generation has come of age. This cohort is working in a variety of jobs and relocating to different cities. Some cities and states, though, are more popular spots for millennials to move to than others. They could be moving for a variety of reasons. Job opportunities, affordable housing (whether it involves renting or… read more…

July 10, 2019Real estate agents are paid on commission. The median gross income earned by real estate agents and brokers was $39,800 in 2017, according to the National Association of Realtors. The main source of that income comes from commissions on real estate… read more…

July 10, 2019An open-end mortgage allows you to borrow additional money on the same loan at a later date. An open-end mortgage blends some qualities of a traditional mortgage with some features of a home equity line of credit, or HELOC. It… read more…

July 9, 2019A home equity loan is a type of secured loan where a borrower uses the equity of their home as collateral for the bank. The amount available is generally determined by the value of the property as determined by an… read more…

July 8, 2019Besides the responsibilities of securing and maintaining a functioning property, homeowners need to be aware of another tremendous burden of homeownership: costs. Whether it’s tackling mortgage payments and property taxes or handling interest and insurance, the weight of these housing expenses never really lessens. That’s why it’s important to understand how much you might be… read more…

July 3, 2019A subordinated loan is debt that’s only paid off after all primary loans are paid off, if there’s any money left. It’s also known as subordinated debt, junior debt or a junior security, while primary loans are also known as… read more…

June 25, 2019Sometimes it feels like a good deal is hard to find, whether you’re buying a car or going out to dinner. That doesn’t change when you are considering where to live. Some towns just give you more bang for your buck, from the quality of life you’ll experience to the living costs you’ll incur. And… read more…

June 18, 2019If you’re still saving up for a mortgage on your first home, it’s likely that you’re paying rent. But what if you could optimize your situation as a renter in order to build up those funds for a down payment more quickly? As you’ve probably guessed, there are some cities where renting is easier than… read more…

June 11, 2019Tech jobs are in high demand across the country. The positions pay well, the companies often offer great benefits and your work helps to create products and services that run the world. While you might think that you have to live in New York or the Bay Area to work in tech, there are actually… read more…

June 4, 2019House auctions generally involve the sale of foreclosed homes at possibly below market value. They can serve as a low-cost gateway to homeownership but home auctions also involve plenty of risks. Many times, you won’t actually get to step inside… read more…

June 4, 2019For a Federal Housing Administration (FHA) loan to be approved, the home must pass an FHA inspection and appraisal. That means it must be worth the purchase price and have such basics as electricity, drinkable water, adequate heat, a stable… read more…

June 4, 2019Renting out your house can open up a new stream of income and tax breaks but it also adds another layer of responsibility. You’ll need to stay on top of repairs, maintenance and rent collection. While that sounds like a… read more…

June 4, 2019Reality shows have made flipping homes quite popular, and there appears to be some merit to it. In fact, according to New Silver, the average net profit for house flipping was $30,000 in March 2022. Further, in the second quarter… read more…

June 4, 2019Owning a home is a big milestone for many. Despite the costs and maintenance associated with homeownership, it can represent security, achievement and success. There are some states, though, where it is better to own a home than in others. Things like value-to-income ratios, foreclosure rates and the average cost of owning a home all… read more…