Remove Insurance Remove Lending Remove Property Taxes Remove Renovations
article thumbnail

How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. Not tax advice. Consult a tax professional. †

Mortgage 397
article thumbnail

Taking the leap: The benefits of buying vs. renting a home

Housing Wire

“Like investing in the stock market, setting aside emergency savings and saving for retirement, homeownership is another vehicle that may offer the potential to build wealth,” says Citi Home Lending Officer John Gnisci. Homeowners may also be eligible for tax deductions which renters may be unable to utilize.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

Hammond , a Chase private-client home lending adviser. When considering the overall cost of homeownership, the price of insurance and property taxes will vary based on community and location,” Ross says. Keep in mind that property taxes vary widely by state and city. How important is the freedom to renovate?

article thumbnail

Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Renovation loan assessments.

Appraisal 105
article thumbnail

Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

Hammond , a Chase private-client home lending adviser. When considering the overall cost of homeownership, the price of insurance and property taxes will vary based on community and location,” Ross says. Keep in mind that property taxes vary widely by state and city. How important is the freedom to renovate?

article thumbnail

Mastering How to Order a Home Appraisal Quickly

AmeriMac

This is because the appraisal helps the lender ensure that they are not lending more money than the home is worth. Some lenders, such as Fannie Mae, even allow for a property inspection waiver (PIW) in certain cases, making the appraisal process even quicker. How Can I Ensure My Appraisal Value Comes Out High?

article thumbnail

Understanding Mortgage Payments

Assurance Financial

You can also borrow strategically against your equity by taking out home equity loans — to perform renovations, say, and boost the eventual resale value of your home. A mortgage loan is a type of loan that is used to purchase a property, such as a home or a piece of land. Insurance Does a mortgage payment include insurance?