THE MONEY STORE  BLOG

April 15th, 2018

Getting a Tax Refund? Here’s some ideas on how you can use it to upgrade your home!

Every year, millions of tax payers do their taxes and cross their fingers for a refund. Not owing any taxes is a wonderful thing, but getting money back, well that's even better!

Then the question becomes, what should you do with your tax refund? You could add it to your savings, finally go on that vacation or splurge on something you've been wanting to get. Or you could use it to upgrade your home.

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March 30th, 2018

What Are Renovation Loans and How Do You Qualify?

When you’re looking to buy a home, you may find one that is very nearly perfect. It could be in an ideal location with just the right number of bedrooms and a style that speaks to you. Sometimes, however, that nearly perfect home could have one or two fatal flaws. Maybe it needs a new kitchen. Or perhaps the electrical or plumbing needs to be updated. Many lenders can look at too many repairs as a deal breaker, and conventional loans don’t usually cover repairs. So how do you finance a home that’s a bit of a fixer-upper?

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March 23rd, 2018

Buying a Home with a Small Down Payment

Buying a home is a dream for many Americans, but most people think you need to save 20% of the cost of your new home to make a down payment. Potential homebuyers are often put off by this steep barrier to entry, but the savvy purchaser knows that you can buy a home with just a small down payment.

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March 14th, 2018

Home-Buying Inspection vs. Appraisal: What's the Difference?

When you’re buying or selling a house, the home inspection and the home appraisal are two very important steps. While they both involve an assessment on the home, an inspection and an appraisal serve different functions and can have an impact on whether or not the deal goes through.

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March 8th, 2018

Why You Should Work with a Realtor Instead of Going It Alone

Buying or selling a house is often the largest financial decision you will make in your lifetime. With all the for-sale-by-owner (FSBO) online options available, it can be tempting to want to go it alone. In competitive housing markets, however, a realtor is the most valuable tool you can use.

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February 27th, 2018

Best 4 Home Improvements for Resale Value

Getting ready to put your house on the market for the spring real estate season? Or making improvements for yourself that will pay off in the years to come? Don’t throw your money at a home renovation project without thinking about how it will affect your resale value.

After all, some projects are more lucrative than others. Here are the four best home improvement ideas at a variety of budgets and skill levels. Even a few minor changes can place your house in a whole new light when it’s listed for sale.

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February 16th, 2018

Advantages To Owning vs. Renting

90% of taxpayers are expected to take advantage of the new tax law, which will double the standard deduction. That said, even before the tax overhaul, owning a home came with a considerable number of perks.  

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February 12th, 2018

Adjustable Rate Mortgages: What You Need To Know

Adjustable rate mortgages, commonly referred to as ARMs, are a unique type of home mortgage loan where borrowers have a low, fixed interest rate for a certain number of years (5, 7, or 10), but thereafter have adjustable/variable rates for the remainder of the loan term. Most people assume the rate will only climb after those first years, but that’s a misconception. It’s also possible for the rate to go down.

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January 31st, 2018

First-Time Home Buyers: What to Know Before You Buy

With the Spring Market just around the corner, here are some helpful tips for buying your first home.

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January 4th, 2018

Home Upgrades and Your Taxes: What You Need to Know

Now that the New Year has arrived, we're all looking for ways to make improvements in our lives, from getting fit to reexamining our finances to remodeling that awful 1970s-style bathroom. If you're planning to make any improvements to your home this year, here are some things you need to know about home upgrades and their tax implications.

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November 28th, 2017

The Must-Know Details for Buying and Holding Real Estate
Real estate investment can be a tricky business. Here are some tips to help you understand your options!

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October 5th, 2017

The Most Common Problems Found in a Home Inspection
Whether you are selling your home, or about to purchase a new home, there are some things you should know to prepare for a home inspection.

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September 14th, 2017

The Equifax Data Breach: What You Need to Know

Equifax, one of the three largest credit reporting agencies in the nation, announced last week that it suffered from a serious data breach, affecting nearly half the American population.
Needless to say, this is a huge issue for personal information security, and it keeps the door wide open for potential identity theft.

However, there are some smart prevention steps you can take to protect yourself, both through Equifax and on your own.

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September 7th, 2017

Tips to Payoff Your Mortgage Early

Thinking of getting ahead on your mortgage balance? Paying off your mortgage early might be simpler than you think! Here are some helpful tips to help you shave years off your mortgage.

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August 14th, 2017

How to Choose a Mortgage Lender

Know the differnet type of  Mortgage Lenders

  • Mortgage Bankers: These Lender have their own warehouse lines and may service or sell your loan. They have their own inhouse underwriting and processing to assist in the loan process.
  • Correspondent Lenders: These Mortgage Lenders rely on larger to lenders to immediately sell your loan.
  • Savings and Loans: Smaller community based lending and worth seeking out.
  • Mutual Savings Banks: Mutual savings banks are locally focuse, like your S&L. 
  • Credit Unions: Member owned banks that offer competitive interest rates to shareholders. 

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July 19th, 2017

What Factors Are Looked At When Applying For A Mortgage?

 

Before you shop for your new home, prepare to qualify for a mortgage loan. Preparing will help eliminate confusion while ensuring that the process goes as smoothly as possible. 

These are six factors reviewed during mortgage approval process.

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July 12th, 2017

How to Compete with an All-Cash Home Purchase Offer

 

The housing market goes through shifts, and currently, we are in what is commonly known as a “seller’s market” – that is, a market in which there are more buyers than there are homes for sale. As a result, competition between buyers will increase, and you may even find yourself battling with the dreaded “all cash” offers. 

Is it possible to compete with all-cash home purchase offer? 

It may seem unlikely that anything can be more attractive, we're here to tell you that it is very possible to beat an all-cash offer! Review these top three strategies for beating all-cash offers and getting into the home of your dreams. 

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July 5th, 2017

Qualifying for a Mortgage on Part-Time Income?

Today, it's more common than ever for individuals to make a living by working one or more part-time jobs instead of a traditional 9-to-5, 40-hour-a-week job. The assumption is that most people that choose part-time over full-time are either retired individuals or college students. However, that's is not the case! The Bureau of Labor Statistics states that over 32 million Americans work less than 34 hours a week – the commonly accepted cut-off for part-time employment. 

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