Whether you’re looking to fund the minimum down payment or put down more than the traditional 20% when buying a home, saving for a down payment can be a challenge.
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21 Creative Ways to Save for a Down Payment
Budgeting for Homeownership: Make Your Dream Home Reality
Budgets are like diets: Even when you know they’re a great idea, sticking to them is difficult! Much like diets, however, putting in the hard work and short-term sacrifices can yield amazing results. Every penny counts while working toward a home purchase—and creating a budget is just the beginning.
Here’s how to keep your budget on track to buy a home this year.
Budgeting for Homeownership in the New Year
There’s no better time than now to start preparing for homeownership. If your financial goals include things like saving for retirement, paying off student loan debt, or buying a home, this article provides some solid financial planning advice that will get you headed in the right direction.
As an additional resource, you can also download our personal budgeting guide here. When you have a solid plan and set a budget for homeownership, you may find that you’re able to buy a home more quickly than expected.
Tips to Improve Your Credit Score
Your credit score is an important factor when it comes to buying a home. That’s because it gives your mortgage lender a snapshot of how responsible you’ve been as a borrower through your payment history—which means they can gauge how responsible you’re likely to be as a borrower going forward.
A higher credit score not only improves your chances of loan approval but also qualifies you for lower interest rates, which can save you thousands of dollars over the life of your mortgage. A good credit score also shows lenders that you’re capable of managing debt wisely, making you a more attractive candidate for financing. That’s why it’s essential to monitor and improve your credit score before you start the homebuying process.
How to Set Achievable Financial Goals
New year, new goals, right? When it comes to personal finances and goal-setting, creating financial goals can be one of the most meaningful things you can do for yourself and your family.
APM Financial Fitness: October 2024
A couple of weeks ago, the Federal Reserve announced a hefty 50-point cut in the benchmark interest rate, which was bigger than the expected 25-point decrease. The Fed's decision to cut rates was mainly fueled by the decreasing levels of inflation, although shoppers are still faced with high grocery prices. It still remains to be seen if the rate cut will encourage more residential home sales, especially as other factors such as labor and economic data also affect real estate markets.
Mortgage Review: Take Advantage of Improving Interest Rates
The Federal Reserve is lowering interest rates, and now is the perfect time to take a fresh look at your mortgage. A quick review could yield lasting benefits, especially if you have purchased a home in the past few years or need to tap into your home equity.
Access Your Home Equity with a Cash-Out Refinance
Most people understand that owning real estate can be a great investment. What they may not realize is that this investment can begin to pay off while you still own the home!
Should I Refinance My Home to Pay Off High Interest Debt?
High interest credit card debt can suck the life out of anyone. Paying off your credit card debt at today’s high interest rates can also take major sacrifice—but it doesn’t have to. Not if you’re a homeowner, anyway.
Pros and Cons of a Debt Consolidation Mortgage Refinance
A debt consolidation refinance may let you kill two birds with one stone. It can allow you to achieve a lower interest rate on your debt while streamlining all your monthly payments into one. You’ll essentially consolidate debt obligations and roll them into your mortgage, but at a much lower interest rate. The result is a single payment at a lower interest rate: your monthly mortgage payment.
5 Things to Know About Buying Short-Term Rentals
Investment properties can be a great way to earn passive income while someone else (or a bunch of other people) pays your monthly mortgage. Home-share platforms like Airbnb, Vrbo, and other vacation rental websites have made it even easier for those who want to market their investment properties as short-term rentals.
8 Tips for Buying an Investment Property
Buying an investment property can be one of the keys to financial freedom and long-term wealth. Whether you want to enjoy rental income, tax benefits, or both, owning rental properties can help you achieve your goals quickly.
Is Buying a Home for a College Student a Good Investment?
Tuition, books, transportation, room and board…the cost of college can add up fast. At first glance, it may seem crazy to consider buying a home for a college student, but is it?
Homebuyer Hacks for Today’s Housing Market
Buying a home can be an exhilarating experience. You’ll be hunting for your dream home, handpicking the perfect school district, and building generational wealth through real estate. That all sounds amazing, but the process to get there can undeniably have a few stressors.
APM Elevate: June 2024
If you're wondering how to make your money work harder for you, or want help with setting up investments and savings accounts, it could be time to find a financial advisor to help you. Here are some strategies to keep in mind.
Down Payment Assistance: Differences Between Gift Funds, Grants, and Loans
Down payments can be one of the most daunting parts of the homebuying process. We all know that buying a home costs money! Thankfully, you don’t necessarily have to drain your savings account to come up with the sum. There are other ways to secure a down payment, including gift funds, grants, and down payment assistance programs.
Top 8 Benefits of Homeownership
The benefits of homeownership involve more than simply putting a roof over your head. The goal of buying a house will be less meaningful until you understand the actual value behind this investment. It isn’t just to achieve the “American dream”!
Top 6 Ways to Build Wealth as a Real Estate Investor
When it comes to financial planning and wealth-building, most savvy people know that building wealth through real estate is an important piece of the puzzle. The beauty of this investment strategy is that you don’t have to be a multimillionaire, real estate agent, stock market guru, or even a member of one of those real estate investment groups to make investing in real estate work for you.