7 Reasons Buying Beats Renting
...onth, a portion of your mortgage payment is returned to you in the form of equity. The longer you own your home, the more equity you build – both via mortgage payments as well as in...
Should You Buy Before You Sell?
...t home and sell your current one, and available to people with significant equity and great credit. Alternately, you might also be able to borrow a home equity line of credit on your current home,...
How Much Is Mortgage Insurance and How Long Do I...
...typically costs from $300 to $500 – they might agree that you meet the 20% equity threshold and drop the PMI. Make loan prepayments. Paying something as small as an extra $50 per month can...
Renting vs. Owning: Should I Rent or Buy a Home?
...finally outgrow your current home and are ready to move up, the additional equity you have built up can be used as the down payment, instead of trying to save it all. Maybe your children are...
Are You Ready to Buy a Home?
...oney will go to pay the principal amount rather than interest. Each month, equity on the house increases. Five years is a good benchmark to develop enough equity to sell your house for a profit,...
PMI: What to Know Before Buying Your Philly Home
...miums must be discontinued by a bank if borrowers have achieved 22 percent equity in their home and are current on their monthly mortgage payments. However, as soon as a borrower has 20 percent of...
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