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Posts Tagged ‘buying a home’

Interestingly it was the government that came up with the idea of encouraging home ownership for all Americans and using the now classic 30-year mortgage to help.

The plan was that the payments would be low enough over the long term of the loan and allow people who did not have a lot of income to buy homes over time.

And it worked. Home ownership nearly doubled between the 1930’s and now.

But a 30-year mo Read the rest of this entry »

Do you know your credit scores?  Most people don’t realize how important credit scores have become in today’s home buying process.  Your credit scores literally control how much home you can afford if you need any type of financing to make the purchase.  If you take two identical people with identical jobs and incomes who both buy the very same homes on the same street for the same price, but one person has a credit score of Read the rest of this entry »