Lower My Bills

1 month ago | lowermybills.com | Rory Arnold |T.J. Porter |Andrew DePietro |STEPHANIE COLESTOCK

If your neighbor fails to maintain their home, it can be more than just an eyesore for you — it can actually reduce the value of your property. That’s because sales of comparable properties — usually referred to as comps — are a major factor in determining how much a home is worth. Whether you’re buying or selling a home, comps are essential for understanding the current market and what homes can be expected to sell for.

2 months ago | lowermybills.com | T.J. Porter |Andrew Martins |Brett Holzhauer |Rory Arnold

If you owe more on your mortgage than your home is worth, you’re said to be underwater or upside down on your home loan. If you’re paying your mortgage on time and can continue to do so, you should be fine. But if you’re underwater and need to refinance, you have no equity to borrow. And if you need to sell, you can’t make enough by selling the home to repay your current mortgage.

2 months ago | lowermybills.com | Terence Loose |Rory Arnold |Casey Bond |Brett Holzhauer

If you’ve already bought a home and are now considering buying a second home to use for vacations or generate income, it’s important to know how the process differs. Taking on the additional debt required to buy a second home requires mortgage lenders to take a bigger risk. A loan to buy a second home may require a larger down payment, may come with a higher interest rate, and may have stricter financial requirements.

Jan 6, 2025 | lowermybills.com | Rory Arnold |Casey Bond |Brett Holzhauer |Sarah Sharkey

As you approach closing day, the final walk-through gives you one last chance to inspect the home before it’s yours. In most cases, the walk-through is a formality. But sometimes, last-minute problems crop up that you’ll need to resolve quickly with the seller to close on schedule. Let’s take a look at some common problems that may come up during your final walk-through. You might find the seller left behind some items when they moved out.

Jul 15, 2024 | lowermybills.com | Rory Arnold |STEPHANIE COLESTOCK |Mia Taylor

Refinancing your mortgage involves replacing your current home loan with a new mortgage. Whether it’s with your current lender or a new one, you’ll need to apply, be approved for, and be ready to close on that new loan. While refinancing is similar to getting a loan to buy a home, understanding how to close on a mortgage refinance can help the process go smoothly. Key Takeaways:You need to have applied for and been approved for a mortgage refinance before you’ll be ready to close.