Most Home Buyers Take Out a Home Mortgage


Until you decide to buy a home, you probably have not thought much about a home loan nor wondered why it is called a mortgage.

Many people might not even consider a home loan to be a mortgage because it's an unfamiliar term. You get a loan to buy a car but you get a mortgage to buy a home. Is there a difference between the loans? Yes, there is a big difference, especially how the interest rate is calculated. Mortgages are generally amortized using a different set of rules. If you paid off a 30-year mortgage over the full 30 years, you will probably pay 3 times as much as you initially paid for the home. Maybe more.

More Articles by Elizabeth Weintraub:

What is a Second Mortgage?
What is a Deed of Reconveyance?
What is a Trust Deed?

Technorati tag: mortgage

At the time of writing, Elizabeth Weintraub, BRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

Most Home Buyers Take Out a Home Mortgage originally appeared on About.com Home Buying / Selling on Monday, April 14th, 2014 at 05:00:22.

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It’s Best to Limit Home Feature Requirements for a Search


Setting up home features that operate as restrictive search parameters to find a home work best when there are a lot of homes for sale on the market.

It doesn't seem to work so well when the features are so precise that none of the homes will match exactly. If you don't get an exact match, then you won't get any homes to look at. It's much better to give yourself broad search parameters and look for common features such as 3 bedrooms and 2 baths, and then consider whether you're willing to buy a home that doesn't have all of the features you might prefer.

More Articles by Elizabeth Weintraub:

Questions to Ask Before Buying a Home
Open House Etiquette for Home Buyers
How to Compare a One-Story Home to a Two-Story Home

Technorati tag: home features

At the time of writing, Elizabeth Weintraub, BRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

It's Best to Limit Home Feature Requirements for a Search originally appeared on About.com Home Buying / Selling on Friday, April 11th, 2014 at 05:00:02.

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