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Archive for category: Personal Finance

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How to Use Home Equity Responsibly

You’ve built some equity in your home. Now you’re thinking about tapping it to get cash that could help you remodel, invest in a small business, or pay off student loans. It’s understandable, and you’re not alone. Rising home values have driven equity to historic highs. This, in turn, has helped drive a sharp rise […]

2

Making Sense of Loan Documents and Homebuying Paperwork

It’s no secret that the homebuying and mortgage process is a long journey that can last weeks or even months. Each step can be filled with a number of considerations like: In what kind of community do you want to live? What style of home do you like? Do the homes you’re looking at need […]

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Is a Reverse Mortgage right for you?

If the word “retirement” resonates with you, you’re not alone. Retirees are enjoying long-awaited travel pursuits, moves to places they’ve been dreaming of and finally being able to check things off their bucket lists. Some of them are paying for these endeavors by taking out a reverse mortgage, which allows certain homeowners to tap into […]

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Top Tax Deductions for Homeowners

Tax season is approaching, offering numerous tax breaks for American homeowners based on their real estate holdings. These deductions, such as mortgage interest, can lead to substantial savings. Understanding these benefits and how to leverage them when filing is crucial for maximizing affordability and rewards in homeownership. Here are the most common tax deductions for […]

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What to Know When You’re Self-Employed and Looking for Home Financing

If you’re buying a home when self-employed, you’ll likely have a more challenging path to getting a mortgage than someone with “traditional” employment. Your mortgage lender will require additional documentation, mainly to help prove that your employment and income are stable and reliable. The good news? With a bit of planning and preparation, you can […]

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Reduce Your Debt-To-Income Ratio

Understanding the three key factors – income, credit history, and debt-to-income ratio (DTI) – is crucial for mortgage eligibility. Income and credit history are commonly known, while DTI measures the portion of your monthly income allocated to debt payments, significantly influencing your mortgage qualification. It’s essential to grasp DTI, as it directly impacts your financial […]

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