2
votes
2answers
153 views

Steps to buying a home

My wife and I are looking into buying a home. We are discussing home vs. co-op, I don't want the co-op I'm to worried about re-sale which I think will not exist. Basically what are some good steps to ...
0
votes
1answer
133 views

Financial implications of purchasing a first home?

My girlfriend and I bought our first home and I'm wondering what finance topics this touches on? Some relevant info might be: We're in Vermont We aren't married We bought the house in late June ...
3
votes
1answer
141 views

What is a cash back mortgage and should I consider using one?

In speaking with a mortgage adviser recently, I found out about cash back mortgages. I was wondering if someone here knows about this and could tell me if they are a good idea? To give you some ...
5
votes
1answer
206 views

Can I bring a real estate agent with me after my first visit to a new home?

I am looking to buy a house, and I am a first-time buyer. I am reading a book on home buying, and it says the following with regard to new homes: "You might have to deal with the developer's ...
7
votes
3answers
606 views

When is the right time to buy a car and/or a house?

I am a 24 years old young IT professional. Since I don't have addictions to anything including drinking, I mostly save a lot (around 50% of my income after tax like $15-$25k a year). Currently I drive ...
13
votes
2answers
505 views

Seller refuses to accept offer on home until after inspection

I'm currently trying to buy a home (that happens to be a foreclosure), and the bank who owns it is allowing us an inspection period, however they are unwilling to accept our offer until after the ...
2
votes
4answers
402 views

How do I know if Home value is likely to go up?

When looking for a home to purchase, I have heard that location is an important factor in determining whether the home value will go up or not. What things would I need to look for when purchasing ...
10
votes
2answers
247 views

What are the most important things to ask a real estate agent before hiring them?

I've been researching the best ways to search for a home, and questions have come up about real estate agents. Getting a good real estate agent could potentially save you thousands of dollars, but ...
10
votes
4answers
1k views

Buying a house, Bank or rent to own?

We currently rent a house. Our credit is ok, but we're working on it (paying things off, disputing things, etc). We are first time buyers. We have a good relationship with the owners. We are thinking ...
4
votes
2answers
390 views

Good idea to purchase condo with no home owners association?

I'm looking at REO condos on homepath.com (the site for Fannie Mae foreclosures, etc). I'm wondering, is it a good/bad idea to purchase a condo with no home owners association? Most of them have ...
5
votes
2answers
246 views

How to tell if HOA for a prospective condo purchase is financially healthy?

I'm considering purchasing a condo. I live in a major metropolitan area; so I'm almost certainly going to end up in a building maintained by an Home Owners Association (HOA). As I'm learning the ins ...
14
votes
5answers
296 views

What factors are to be considered when deciding to go with a 15 year fixed vs a 30 years fixed?

What factors are to be considered when deciding to go with a 15 year fixed vs a 30 years fixed? Pretty simple really; I could make the payments on a 15 year fixed, but at today's low interest rates, ...
1
vote
3answers
463 views

How do I calculate the dwelling coverage I need from the information I have?

I have just finished ratifying a contract for a home purchase. Our timeline for getting everything done is fairly tight and I'd like to start getting the homeowner's insurance squared away as soon as ...
7
votes
4answers
365 views

Looking to buy a house in 1-2 years. Does starting a Roth IRA now make sense?

My wife & I are 28 years old and are looking to purchase our first home in the next 1-3 years. Our financial situation looks something like this: 24% combined gross annual income in low ...
4
votes
2answers
248 views

What is mortgage insurance? Do you have to have it, in order to be approved by a bank?

What does mortgage insurance do? Whom does it protect? Do I need it? MUST I have it, in order to be approved by a bank for a mortgage with them?