Pedro's blog

In our housing market, there are thousands of mortgage loan options available. But, choosing the best mortgage loan might be difficult. So, before selecting the right mortgage loan, you may need to decide what type of mortgage is suitable for you. To select the best mortgage loan, you might need to consider your financial status, credit score, and few other factors. If you manage to pick up a wrong option, it could cost you a lot.

It sounds so good to pay off your mortgage early and sit back at peace in your ‘own’ home!

A hot cup of fine morning tea, with some handmade chocolate chip cookies, will surely make a good kickstart to your day!

But, there’s this small thing which you might be hearing lately, if you are a mortgage borrower, and if you are planning to pay off your home loan early. It is none other than a “mortgage prepayment penalty”.

If you are going to build a house, then choosing the best construction loan might be less interesting for you than designing the house. However, taking out a construction loan is much important if you want to set up your dream home soon.

If you are not investing cash for your home building project, you will definitely require a construction loan in the first place.

Today, the housing estate is seeing a whole new dimension. We have homes built in a factory and delivered in parts to a construction site. These parts are then assembled at the site and the home is ready before the owner can even imagine.

Such is the new era of home designing and housing!

These factory-built homes are known by many names like prefabricated homes, modular homes, manufactured homes, mobile homes, etc. But each has its own characteristics.

Can you get a tax break while saving for your house? The answer would be “yes”, depending on which state you are living right now!

Ask yourself, are you getting stressed due to the rising home prices and thinking about how to handle the down payment crisis? Don't worry, your state may help you with this issue and get you tax benefits.

Guess, people of America are forgetting the calamity of 2008 financial crisis, where big lenders and financial institutions went broke, houses got foreclosed, the value of assets depreciated, and all followed by long years of recession and unemployment!

Today, it’s 2018! And, we should be concerned! The history seems to repeat itself, and believe it or not, the US economy is on the brink of a huge collapse!

Buying a home is not as simple as offering a price and buy that home out. Home buying negotiations can take a lot of your precious time before the seller and you (buyer), both become satisfied with the deal.

Initial offer and counteroffer, both of them are the basic part of a good negotiation, especially the counteroffer. In most cases, the counteroffer is considered the ultimate selling price of the home. So, if you want to get the best deal while buying a home, you need to know how to make a good counteroffer.

Home security systems are getting smarter day by day as manufacturers are now including the smart factor in their products. This means will be able to control the devices either with voice commands or the traditional physical touch!

Consider for example the Homekit software framework of Apple! It allows you to pair different smart home accessories along with security systems and bring it under one hub, and control it with your iOS devices!

While taking out a home loan, there are many factors and events you will have to keep in mind!

As a consumer, you got to be wise and see what loan terms and interest rates are suitable for you. I guess you very well know, there are two types of interest rates offered on mortgages; one is the Adjustable Rate Mortgage (ARM) or variable rate mortgage, and the other is the Fixed Rate Mortgage(FRM).

What is a construction loan?

Construction loans are normally opted by homebuilders or new homebuyers. These are short-term loans with the tenure of maximum 1 year. Construction loans are taken out for making payments of construction costs and other necessary expenses during the entire construction period.

Construction loan interest rates are variable, which normally change with the prime rate and are higher than the conventional mortgage rates.