Josh Richner, Author - MoneyTips

Freddie Mac BorrowSmart℠: What Is It? How Do You Qualify?

Josh Richner — Mon, 09 Jan 2023 19:00:21 +0000

With the rising cost of homeownership, it can seem impossible to save enough money for a down payment. Luckily, there are a few programs that provide legitimate down payment assistance. With the overall goal of making mortgages more affordable, Freddie Mac’s BorrowSmart℠ program offers credit toward qualifying home purchases for very low- to low-income home...

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What To Know Before Buying a Flipped House

Josh Richner — Mon, 19 Dec 2022 17:57:35 +0000

If you’re interested in buying a flipped home, there are a few things to consider before diving in. Knowing what to look for in a flipped house can mean the difference between buying a real-estate regret and buying a home with instant equity. This article will discuss what to look for in a flip house...

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VA Funding Fee: Costs and Exemptions Explained

Josh Richner — Tue, 15 Nov 2022 18:21:21 +0000

The VA loan program is one of the best ways for qualified service members, veterans and surviving spouses to become successful home buyers. VA loans make home loans accessible and offer some of the most competitive rates around. But there is one fee borrowers will pay with a VA loan that they wouldn’t pay with...

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How Much Does It Cost To Insulate a House?

Josh Richner — Mon, 31 Oct 2022 19:07:21 +0000

If you’re constantly running your heater and boarding off rooms like you’re defending the Wall from the Night King, it’s time to winterize your home. Though not an epic CGI battle, the cost of insulating a house can feel daunting. Several factors influence the cost to insulate your home, such as the size of your...

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What To Do if Your Appraisal Comes in Low on a Refinance

Josh Richner — Wed, 19 Oct 2022 12:58:53 +0000

During a refinance, there are many moments of anticipation you hope will eventually lead to successfully refinancing your home. Minutes feel like eons when you’re waiting for an update from your loan officer. You’ll likely feel twinges of anxiety while you’re waiting for the results of your appraisal to come back. Your most pressing question...

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Dual Agency: What Buyers Should Know About the Risks

Josh Richner — Thu, 06 Oct 2022 18:36:09 +0000

With dual agency, one real estate agent represents the buyer and seller in one real estate transaction. Dual agency can benefit both parties, but you should consider the potential risks before greenlighting a dual-agency agreement. We’ll show you how dual agency can affect the home buying process and the pros and cons of not using...

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A Guide to the FHA MIP Refund Chart

Josh Richner — Tue, 27 Sep 2022 18:55:19 +0000

Loans originated by the Federal Housing Administration (FHA) are a great option for home buyers, especially first-time home buyers. They offer low-interest rates, relaxed credit requirements, and low down payments. And there’s another unique benefit. If you refinance your existing FHA loan to another FHA loan, you may qualify for a refund on the upfront...

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Buying a House With a Septic Tank: Pros and Cons

Josh Richner — Tue, 27 Sep 2022 17:02:11 +0000

If you’re a rural home buyer, one thing to keep in mind is whether the house has a septic tank. A septic tank is an on-site wastewater treatment system. It’s how a home processes and disposes of wastewater without being connected to a municipal sewer system. A septic tank doesn’t need to be a dealbreaker,...

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Does a Down Payment Matter to the Seller?

Josh Richner — Mon, 12 Sep 2022 19:48:15 +0000

When it comes to down payments – size can matter. The size of your down payment can impact many aspects of your home buying journey: the loans you’re eligible for, your interest rate, your monthly mortgage payments, your closing costs and how much you’ll need to pay upfront at closing. But does the size of...

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What Is an Absentee Homeowner in Real Estate?

Josh Richner — Mon, 12 Sep 2022 18:56:38 +0000

An absentee homeowner is a person or entity that owns a property but does not live in it. Absentee homeowners may use their property as a short-term rental or something else entirely. If you’re an absentee homeowner, it’s not because of how you use the property. It’s because you don’t live in it or actively...

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Are Home Warranties Worth It, Really?

Josh Richner — Tue, 06 Sep 2022 20:11:13 +0000

It’s no secret that home repairs are an unavoidable part of homeownership. And while some fixes may be cheap and easy, others can be more costly and quite complicated. That’s why home warranties can be such a valuable tool for homeowners. They can help alleviate your financial burden when things break or break down. Like...

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Buying a House at Auction: A Beginner’s Guide

Josh Richner — Wed, 31 Aug 2022 15:15:13 +0000

When most people think of buying a house, they picture browsing real estate listings online and touring a seller’s home with a real estate agent. However, there’s another option: purchasing a home through an auction. While the process can be more complicated than with conventional home sales, auctions do present opportunities for savvy buyers. In...

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