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Wondering what income you'll need to buy a median-priced home? See our latest metropolitan area home affordability analysis

Wondering what income you'll need to buy a median-priced home? See our latest metropolitan area home affordability analysis

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: What is the difference between "rate" and "APR"?
APR 26, 2021
A:

APR is perhaps the most misunderstood part of mortgage finance. "Rate", or more properly "contract interest rate" is the actual rate of interest you are being charged...

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Q: How do I find out who owns my mortgage?
MAR 15, 2021
A:

The owner of the loan is most often the "investor" -- the entity who put up the actual funds to make your mortgage happen.

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Q: When will I begin paying more principal than interest?
MAR 04, 2021
A:

A 4 percent 30-year fixed-rate mortgage will see equal parts principal and interest at about payment number 154.

Read More
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