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7
Americans' Expectations Align to Encourage Home Buying
By Keosha Burns More consumers may be looking to purchase homes with a shift in several key housing market indicators, according to Fannie Mae's March 2012 consumer attitudinal National Housing Survey. More Americans now expect both home rental and home purchase prices to increase over the next year. Nearly half of consumers expect higher rental prices, the highest number recorded since monthly tracking began in June 2010. Thirty-three percent expect home prices to increase, up 5 percentage points since last month, and the highest percentage recorded in over a year. In addition, confidence in consumers' views of their own finances is stabilizing-for three straight months-44 percent believe their personal finances will get better over the next year. These trends may be providing Americans with an increased sense of urgency to buy a home as 73 percent of Americans now believe it is a good time to buy a home, up from seventy percent in February. "Conditions are coming together to encoura...
7
Creating Your Homebuyer Wish List
If you're embarking on the exciting process of searching for your first home, you may be feeling a bit overwhelmed. After all, from choosing the right location to securing the necessary financing, there are many important details to tackle. These details can often cloud your judgment when looking at prospective homes to buy. However, in order to be happy in your new home for years to come, you must choose a property that embodies what's most important to you. The U.S. Department of Housing and Urban Development (HUD) recommends answering the following questions as a guide to selecting your first home: 1. What part of town/neighborhood do you want to live in? 2. What price range would you consider? Establish the maximum price you'd consider. 3. Are schools a factor and, if so, what do you need to take into consideration (i.e., the school system's ranking, whether the kids can walk to school, etc.)? 4. Do you want an older home or a newer home (less than five years old)? 5. What kind of...
16
Invest Your Tax Refund in Your Home
One way to give your tax refund legs is to invest it in your home. While the housing market may still be experiencing difficulties, real estate remains a great long-term investment. BMO Financial Group offers the following real estate-related options for your tax refund: First-Time Homebuyers Today's historically low interest rates along with more reasonable home prices make home buying a great opportunity and a tax refund can be used toward a down payment. There are a number of loan options along with grant and down payment assistance programs that are perfect if you are a first-time homebuyer. But, before you set out to buy a home, it's best to talk with a mortgage professional and be pre-approved. Refinance Your Home With rates at historical lows, refinancing may help a homeowner lower their rate or change the length of the loan's term, allowing them to pay off their loan quicker and save money on interest. It's best to check with a mo...
13
What's in your FICO® score?
FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your FICO score.
These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different.
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