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Lynn Bulmer's Articles in Buying

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Sourcing a Good Foreclosure Deal It is essential to be ready to move when the right deal comes along – including having a pre-approved mortgage and a strong down payment. When a property is bank-owned, the faster it can get the home off their books, the better it is for them. Good Lessons for Home Buyers Typically, we scrape together as much cash as possible and apply it to the down payment and closing costs. But is this the best strategy? Many lenders would prefer a buyer have a smaller down payment, and a cash reserve for emergencies. Ideally, buyers should try and build up an account that will cover three to six months worth of mortgage payments and living expenses. Something Old or Something New: Which Home is Right for You? If you're getting ready to make a real estate purchase, you may be wondering whether it's a better deal to buy new construction or an older house. There are benefits and drawbacks to both types of property, so it's important to weigh your options carefully before making an offer.