When you’re ready to buy a house, a lot of jargon is thrown around. One term you’ll hear a lot is debt-to-income ratios. If you’re not a math wizard, such lingo can sound intimidating, but it doesn’t need to. Debt-to-income ratios are simple to figure and use to your advantage, even giving you the ... » Learn More about Debt-to-income Ratios
Closing Costs Explained…
Are you interested in buying a home and are terrified about all the "hidden" costs associated with buying a house and obtaining a mortgage? Fear not, Amber G is here! Here is the best possible breakdown I can provide for you: Non-Recurring Closing Costs Associated with the Lender (Your lender ... » Learn More about Closing Costs Explained…
The HUD-1 Explained
Sections A-I: Lender’s name and address, settlement agent info, buyer’s loan type, settlement date and property address. Section L: Settlement Charges Section 700: Agency Commissions Section 900: Items Required by Lender to be Paid in Advance l Line 902: mortgage insurance premiums due at ... » Learn More about The HUD-1 Explained
Build Home Equity Faster
Equity is the part of your property that you actually own and have accrued. To put it as simply as possible, if you take your home's value (what your home would sell for today), and subtract what you owe on it, that your equity. I.e. your lovely home is worth $500,000, and you still have another ... » Learn More about Build Home Equity Faster
Capital Gains Exclusions
Determining your principal residence according to the IRS for tax purposes if you own more than one home can be tricky, but the IRS continues to refine the rules. First of all, principal residence can take many forms: conventional home, condominium, mobile home, house trailer, tenant-stockholder ... » Learn More about Capital Gains Exclusions