|
|
|
 |
|
MyFinanceOnline
|
|
Buying a home is a huge step for most families and it can very overwhelming. In this personal finance video series, Rodney Sanders, an experienced mortgage professional, covers some of the terms and things to consider for the first time home buyer or anyone looking to purchase a new home.
|
|
|
|
Before you look to buy or build a home, you must be prepared to buy or build a home. In that, have you set up a family budget, do you know your credit score, have you established credit in your name, how much money do you have in savings? In this personal finance segment on purchasing a home, we cover these and other topics. |
|
|
|
|
If you have picked out a lot that you want to build a home on, do you go ahead and buy the lot and pay it off before you build? What is equity and how does it affect your home purchase? |
|
|
|
|
What are some of the things that can affect your credit score? In this personal finance segment, we cover topics such as past due accounts, high credit card balances, multiple inquiries for credit under your name and other ways that might affect your credit. |
|
|
|
|
The mortgage industry runs in cycles and different types of mortgages can be hot or cold depending on the cycle. The last few years have seen a growth in interest-only mortgages, but many financial organizations are moving away from this type of mortgage. You need to find out what type and length of mortgage is right for your financial needs. |
|
|
|
|
In this personal finance segment on financing your home, we cover ARM's, Fixed and Balloon mortgage programs and how your house payment can be affected with each type. |
|
|
|
|
How is home owners insurance different from private mortgage insurance and who is covered with both types of insurance. Also, what is escrow and who goes into your escrow account. |
|
|
|
|
What are some of the things that a lender looks for in a home mortgage-stability, good credit, collateral are some of the areas. How much of your gross income should you house be? How much of your gross income should all of your credit be? This is a great video segment for the first time home buyer. |
|
|
|
|
What is covered in your closing costs and what is the benefit of paying down points on your mortgage? What is the difference between your interest rate and APR? What will the good faith estimate tell me? These and other questions about closing on your new home are answered in this personal finance video segment. |
|
|
Links |
|
About Us |
|
Contact Us |
|
|
|
|
|
|
|
|
|
|
|
|
|
