House flipping is at its highest level since 2007 thanks to rising home prices and the increased availability of financing.What’s more, a limited supply is helping flippers earn higher profits.
Learn the differences between a fixed interest rate and an adjustable rate. A fixed-rate mortgage has an interest rate that never changes and is often issued for a 15- or 30-year period. The monthly payment for a 15-year mortgage will be on average 25 to 30 percent higher than for a 30-year mortgage, but you will get a lower interest rate.
Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers may benefit from less stringent qualifying and down payment requirements, more flexible rates, and better loan terms on a home that otherwise might be out of reach.
For additional resources and advice, browse our extensive library of finance articles and get the information needed about mortgage rates, mortgage lenders, credit scores, home insurance and.
How Does A First Time Home Buyer Loan Work If this is your first rodeo as a homebuyer or it’s been many years since you last bought a home, knowledge is power. Here are 10 common financial mistakes first-time. to do instead: Shop around.
5. Get Pre-Approved for a Mortgage. Getting pre-approved for a mortgage loan before looking at houses is emotionally and financially responsible. On one hand, you know what you can spend before bidding on properties. And on the other hand, you avoid falling in love with a house that you can’t afford.