Sunday, February 23

Tag: real estate

What Is a No-Doc Mortgage, and Can I Still Get One? | Mortgages and Advice
14Jul By adminNo Comments
Money

What Is a No-Doc Mortgage, and Can I Still Get One? | Mortgages and Advice

The no-income-verification mortgage, with its battered reputation, remains an option for some borrowers who have trouble getting a traditional home loan.You might know this loan by other names: no-doc, low-doc or stated-income mortgage. Critics of these loans say they allowed risky borrowers in the early 2000s to buy homes they could not afford, which contributed to the housing crash of 2008.But some experts say no-income-verification mortgages still have a place in today's home loan landscape."These mortgage loans allow consumers to qualify in cases where traditional loan requirements would prevent them from being able to buy or refinance a home," says Jamie Cavanaugh, vice president of outreach for the Association of Independent Mortgage Experts and president of Amerifund Home Loans.Com...
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Renting a home may be more financially prudent than buying one, experts say
14Jul By adminNo Comments
Money

Renting a home may be more financially prudent than buying one, experts say

San Jose, California — Matthew Richmond makes a good living running a successful pest control company in Northern California's Silicon Valley."I'm living the American dream," the 32-year-old told CBS News. Richmond can afford to pursue his passion for adventure. If he wants to buy a motorcycle or dirt bike, "I can go write the check and buy it," he said.  However, what he has not purchased is a home, even though he says he could afford one. "Somehow, we've been led to believe that you have to own a home in order to be living the American dream," said Ramit Sethi, host of the Netflix series "How to Get Rich." "And that's just not true. For a lot of people, renting can actually be a better financial decision." A study released last month fr...
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What Credit Score Do You Need to Buy a House? | Mortgages and Advice
10Jul By adminNo Comments
Money

What Credit Score Do You Need to Buy a House? | Mortgages and Advice

Mortgage lenders consider your credit score a measure of your ability to responsibly manage debt. The higher your credit score, the better your chances of being approved for a home loan, and vice versa. Having good credit can also make it possible to qualify for a mortgage with more competitive terms, like a lower interest rate.The minimum credit score you need to buy a home depends on the type of mortgage you plan to borrow. A conventional mortgage usually requires a credit score of at least 620, but it may be possible to qualify for a government-backed loan with a score as low as 500. However, just because you've reached the minimum credit score to borrow a mortgage doesn't necessarily mean you'll meet all the other eligibility requirements. And generally, having a higher credit score w...
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PE investments in real estate down 5% YoY at 1.9 bn in Q1 FY24: Report
10Jul By adminNo Comments
Business

PE investments in real estate down 5% YoY at 1.9 bn in Q1 FY24: Report

The share of foreign PE money had a dominant share (94 per cent) in Q1 FY24, up from 90 per cent in April-June 2022 (Q1 FY23). Private equity (PE) investments in Indian real estate declined five per cent year on year (YoY) to $ 1.9 billion in April-June 2023 (Q1 FY24) as interest rates increased. Investments worth $2 billion were made in Q1 FY23, according to real estate advisory firm Anarock. Investments have crossed the pre-pandemic level when PE flows were about $ 1.7 billion in April-June 2019 (Q1 FY20), according to 'FLUX', the company’s market monitor for capital flows. The share of foreign PE money had a dominant share (94 per cent) in Q1 FY24, up from 90 per cent in April-June 2022 (Q1 FY23). Overall activity remained muted with headline numbers boosted ...
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Can You Buy a Second Home With a VA Loan? | Mortgages and Advice
5Jul By adminNo Comments
Money

Can You Buy a Second Home With a VA Loan? | Mortgages and Advice

The U.S. Department of Veterans Affairs offers veterans and active-duty military members a number of benefits, including VA home loans. When you use this benefit, the home must be your primary residence, which means VA loans are generally not available for second homes unless you're moving. Can you buy a vacation or investment home with a VA loan? The short answer is no. When you buy a home with a VA loan, you're usually expected to move in shortly after closing – within 60 days in most cases. That means an investment home you rent out entirely or a vacation home you visit regularly but don't actually live in won't qualify for a VA loan. But there are some situations that allow you to use your VA entitlement to buy an investment or vacation home. Read on to find out some of the ways in wh...
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