Archives for the 'Programs' Category
100 Year Mortgage
If I had this option, and closed on a house today and kept the loan until it was paid off, I would be 143 years-old. I just find this funny. Really.
As of today there is no such program, but there is a 50 year program. So…is this a good thing? My stock answer: it depends.
Before the [...]
Mirror, Mirror: Mortgage Reflection Time
We need to turn off the television. Here’s why.
This post describes a few situations, of people losing their homes, which probably should not have happened for several reasons. (Please read the article before reading the rest of my post.)
First, whether we like it or not, our credit reports (our credit histories) determine so much of our financial [...]
Shopping For A Mortgage
In my book, I make the comparison of shopping for a mortgage like shopping for a bottle of ketchup. Actually, I say that they are not the same. It seems that many people, especially (and ironically) first time buyers, think of both experiences as commodity shopping. I am not sure if this is the nurture [...]
1+1=1 Loan
An interesting problem: not enough money for down payment, but only temporarily.
Several people have conveyed that they have budgeted themselves and have determined their total mortgage payment (PITI: principal, interest, tax, and insurance). To get to that payment, we discussed the down payment amount. In each case, none of the borrowers had the amount of [...]
Marble: Why I Want New Construction
Everyone wants their marble. And cabinets. And floors. And bathroom fixtures.
Homebuyers love new construction. Especially new condominiums. They are the first people to live in the unit and, usually, get to choose their amenities and other aesthetic aspects of the unit.
As one of the best Chicago real estate agents mentions in a recent post, the [...]
Condominiums For Kids
Why is this girl so happy?
She just chose the colors for her kitchen and dining rooms in her new apartment. (As I mention in my new book, one of the advantages of owning versus renting is that you don’t have to ask the landlord to paint the walls pink.)
For many young people who want to purchase [...]
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