American homeowners spent more than $600 billion on home renovation costs in 2024, according to a 2025 report from the Joint Center for Housing Studies at Harvard University. That’s 50% higher than it was before the pandemic. If you have renovations that need to be completed, knowing what costs to expect will help you know…
When considering a fixed-rate loan, nearly 90% of buyers choose a 30-year mortgage vs. a 15-year mortgage. But why? It often comes down to affordability. When you choose a mortgage, you’re not just picking a loan term; you’re shaping your monthly budget and long-term wealth for years to come. A 30-year loan tends to have…
Trying to decide if it makes more sense to rent or buy a home? You’re not alone. More than one-third of American households rent their homes, and it’s likely many have also grappled with the decision of renting vs. buying. Often, the right move comes down to one key question: Which makes the most sense…
When you take out a loan to buy a home, your monthly payments cover more than just the amount you borrowed. They also include interest, which is the cost of borrowing money from a lender. Each payment you make is split between interest costs and your loan balance (called the principal). As the months roll…
Buying an investment property is a different ballgame than purchasing a primary home. It comes with potentially higher stakes, stricter rules, and different loan options depending on your strategy. Maybe you’re planning to rent it out long term. Maybe you’re eyeing a flip. Or maybe you’re planning to list it as a short-term rental. Whatever…
Your second mortgage likely felt like the right move at the time, whether it was a home equity loan to fund a major home renovation or pay off high-interest debt, or a home equity line of credit (HELOC) to help cover education costs. But now, with changing interest rates and shifting financial goals, you may…
Whether you should get prequalified or preapproved for a mortgage depends on where you are in your home buying journey. A prequalification is great when you’re just starting out and want to get a jump on planning. A preapproval, on the other hand, is a much stronger way of knowing where you stand and what…
You’ve been picturing it — your own place, your rules, maybe even a dog in the backyard. But when talk about the down payment starts, that dream of homeownership might feel a few steps farther away. You’ll typically need at least a little money down to buy a home, but it doesn’t always need to…
The math that goes into a monthly mortgage payment might seem complex — but knowing how it works gives you serious financial power. In fact, learning how to calculate a mortgage payment is a big step toward getting mortgage-ready. It helps you estimate how much home you can afford so you can make an informed…
If saving for a big down payment is the one thing standing between you and homeownership, you have options. Many eager buyers may be surprised to learn that it’s entirely possible to buy a home with no money down or less money down than they thought. Whether you’re just starting to look for homes or…
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