Buying a home is one of the biggest investments you can make. Understanding your finances is critical to navigating the world, especially when you want to make informed decisions and maintain your financial well-being as a homeowner.
We’re here to help! Our ongoing series on financial literacy shares tips about saving and investing, borrowing, and protecting when it comes to homeownership.
If you’re thinking about buying a home, one of the first things you need to understand is whether you’re financially ready to own a home.
Understanding how much debt you can take on and having good credit is essential if you want to qualify for a mortgage. It also helps you get the best interest rate.
See how a credit counselor can help you financially prepare to buy a home (often for free!).
Let’s say you want to tap into your home equity, but you’re not sure how much you need or exactly when you’ll need it.
Have you looked into a home equity line of credit?
There are pros and cons, but one of the best things about a “HELOC” is that you can borrow and pay as you go.
There’s a lot to know about insurance, especially for an investment as big as your home.
So whether you’re preparing to buy, or you already closed and got your policy in the whirlwind of those last few days, it’s smart to do some homework now.
As it turns out, there are eight things that people often get wrong when they’re either choosing their homeowners insurance policy or reporting a loss.
Want to save energy and lower your utility bills?
Make progress fast with these simple, inexpensive mini-projects.
They can really make a difference in your wallet and in protecting your home.
Struggling with your mortgage?
There’s no need to feel ashamed. Financial setbacks can happen to anyone for various reasons, including illness, the death of a loved one, or a crisis like a weather-related disaster.
Mortgage relief options (technically referred to as “loss mitigation”) such as forbearance, repayment plans, and loan modifications are available to help borrowers catch up on their mortgage payments or avoid falling further behind.
Learn the ins and outs of managing your mortgage, home maintenance basics every homeowner should know, and strategies to save and protect your home energy. Learn at your own pace, and earn your certificate.
Learn to keep tabs on the status of your mortgage and your escrow account, reduce the long-term cost of your loan, and protect your investment if you ever hit a rough patch.
Basic maintenance protects your budget, your equity, and your investment in your home. Learn how to prevent the problems you can and confidently manage the ones you can’t.
As energy prices rise, efficiency at home pays off more than ever in lower utility bills and higher market value. Where do you start? Set yourself up for success with this overview.
