How much can you afford
How to find out how much you can afford
How much home can I afford? It's a funny question. Unlike buying a measured amount of rice at the market or a length of chain at Home Depot, home-buying doesn't lend itself to measure-and-cut precision. You can specify an exact amount of lumber, glass,...
Do I need private mortgage insurance?
Every lender wants security—some form of collateral that can be claimed, and if necessary, liquidated—in the event that the borrower doesn't pay. Properties tend to be secured by "equity." That's the margin between the loan balance and the value of the...
What is a pre-approval and why do you need it?
When shopping for a home, you're going to be asked at some point whether you've been "pre-approved" or whether you have mortgage "pre-approval." You're going to want to answer "yes" to these questions -- buyers who can are in a much better position to purchase...By Trulia Staff | 1 Comment
How to maintain a healthy credit score
When you're in the market to buy a home, your credit score is very important. Most lenders use this three-digit number (which is created by evaluating factors like how much debt you have, your payment history for things like credit cards and car loans, and...
Sculpting your score - top ten ways to chip away at poor credit
What's harder to improve—your credit score or your bowling score? I'd say the latter. In bowling, eventually you'll hit a wall (not literally) where you've exhausted all the ways to improve. If you ever miraculously roll a 300, you're definitely done....
Setting your financial goals
I bet you wrote down your goals in January 1st this year. Is that all? Did you re-think them this month and write them down again? If you don't know what your goals are, how are you going to measure whether you've reached them? And, I would bet that if...
Getting started in real estate with little or no money
You've seen the late-night infomercials with self-anointed gurus promising you millions in real estate profits with no money down. The truth is that many of these people never made a dime in real estate. Most of us are smart enough to realize that no real...
Why you need pre-approval letter
"Trust but verify" was a popular expression in the Cold War, conveying the need to hold nations true to claims about their own nuclear arsenals. The same principle applies to you as a home buyer when you make claims about your ability to buy. To verify your...By Trulia Staff | 1 Comment
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