Homeownership

April 25, 2020
I own a home, but I would like to move and rent out my home. What’s my best option?

I own a home that I bought only two years ago. In five years, I would like to relocate to Nevada. I’d like to rent out my existing home to have some net income, but I also would like to purchase another home in Nevada. I have no savings for a down payment for the…

April 02, 2020
I just paid off a house that I got on land contract. How do I add it to my credit report?

Submitted by Renee K. This is a great question. Before your question, no one has ever asked me about this, so thank you for letting me get this info out! I consulted with my friend and colleague Tina Marie, who knows a lot about land contracts. What’s a land contract? A land contract is an…

September 16, 2019
What is private mortgage insurance?

If you get a conventional loan and make a down payment of less than 20 percent of the home price, you are required to purchase private mortgage insurance (PMI). PMI protects the lender (not you) in case you fail to make your mortgage payments. Banks, savings associations, credit unions, and mortgage companies make conventional loans…

August 21, 2019
Should I Rent or Buy a Home?

Renting versus owning – how to determine which is right for you Choosing whether to own or rent a home is a big decision. The “right” answer for you will be deeply personal, based on a few key considerations that we will explore below. 1. Exa...

March 22, 2020
How much should I save before I buy a house?

Buying a home is a big life decision. One of the questions that will come up is how much you should save before starting the home buying process. Here’s how to answer that question. Buying vs. renting a home The first step is to make sure that you&...