If you are shopping for a mortgage to buy a home, or looking to refinance the mortgage you currently have, how can you estimate how much you will be paying in mortgage rates? After all, it is what determines how much you will be paying each month. A number of factors determine how your mortgage […]
If you’re trying to get a good deal on Kansas City mortgage rates, you may have heard that you can buy points on your mortgage. Essentially, you are “buying down” your mortgage rate. But is this the right move for you and when should you do it?
When you sell your home, you may see some tax benefits and consequences depending on your situation. For some, sellers may see tax breaks, and for others, they may have to pay more taxes. Here are some common tax benefits and consequences of selling your home:
Whether you’re purchasing your first home or your second, lenders will look at your income to determine if you can afford a Kansas City home loan. Namely, they will analyze your gross income, or the income you make before taxes and deductions are made. As a home owner, here is what gross income means for […]
You are moving from your current home and want to gift it to a loved one like an adult child. It can’t be that hard, right? Gifting your home to a loved one can be trickier than you may think, but they are doable when researched thoroughly. Tax Consequences of Gifting a Home First, let […]
When it comes to closing on your home, lenders are required to give you an estimate of how much your closing costs will be. Typically, home buyers will pay 2 to 6 percent of the purchase price of the home in closing costs and since closing costs are third party fees, they can be different […]
When a lender forecloses on a mortgage, the total debt owed by the borrowers to the lender frequently surpasses the foreclosure sale price. The difference between the sale price and the total debt is called a deficiency.
You have been searching the market for the perfect home and found one that is for you. If you are serious about the offer, you will give the buyer a deposit of earnest money that they will hold onto until your offer is accepted by the seller. But what exactly is earnest money and how […]
When you enter a real estate contract, you have a due diligence period to take advantage of backing out of the contract without any consequences. But what if you break the contract after the due diligence period has expired? By design, real estate contracts aren’t supposed to be easy to break. After all, if they […]
In today’s housing market, you are likely to find yourself competing with other buyers for the same home. However, there is more to a winning home offer than just money. In order to get the home you want, you need to make your offer stand out from all of the rest.