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With the Income You Need to Buy a Median-Priced Home rising, you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

With the Income You Need to Buy a Median-Priced Home rising, you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

How do you feel about owner financing?

There's nothing wrong with owner financing -- lots of people do it every year --but the key is to have an attorney who knows about real estate transactions to make sure that all of the paperwork -- the loan contracts, disclosures, and recording at the county level -- is in order. The attorney can also help you with the payment schedule and disclosures and such.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
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Q: Can I use an equity loan to pay off my mortgage?
JUN 22, 2022
A:

My home is valued at $195,000. I owe $127,000 on the mortgage. I want a 10 year equity loan to pay off the mortgage. Can I find lenders to do this? Certainly! However...

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Q: What is a mortgage insurance premium? Do I need this?
APR 07, 2022
A:

In general, this will be the cost you must pay for a policy which helps to protect your lender.

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Q: Will biweekly mortgage payments save me money?
MAR 23, 2022
A:

Making biweekly mortgage payments will cut your interest cost and shorten the term of your loan.

Read More
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