It’s easy to fall in love with the grandeur of a home or the amenities and hip location of an apartment or condominium. So easy, in fact, it may blind you to its cost — a cost that may exceed your budget. Before you start searching for a home and falling in love with a dwelling, you should figure out how much you can afford to spend on a space.
Last week’s scheduled economic news included readings on monthly and year-over-year inflation and the University of Michigan’s preliminary reading on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
If you’re in the market for a mortgage, impressing your lender will help you get a better interest rate and save money in the long run. Since just a few percentage points can translate to thousands in savings throughout the life of your loan, consider these strategies to help you put your best foot forward when applying for a mortgage:
Downsizing can help retirees save money and energy they might otherwise waste on space they do not need. But in the process of downsizing, they must choose whether to rent or purchase their next home. What are the pros and cons?