Taking out a mortgage is one of the biggest expenses most people will make in their lifetime. Even though it is a huge financial responsibility, almost half of new home buyers don't put in the necessary time to compare different lenders to find the best rate.

These days, there are more options to consider than traditional credit unions, banks and mortgage brokers. Many home buyers are turning to the internet to find mortgage lenders. It can be intimidating to think about taking out a huge mortgage from an online lender. Below are some of the pros and cons of using an online mortgage company to take into consideration.

Pros Of Using An Online Mortgage Company

1. Lower Interest Rates Available

One of the main advantages of an online mortgage

A housing bubble, or real estate bubble, is an unsustainable increase in housing prices powered by speculation, heightened demand, and "irrational exuberance."

A housing bubble, like other kinds of economic bubbles, often occurs in the context of predatory lending, poorly thought out mortgages, and lowered interest rates with the Federal Reserve. This very constellation of factors came together to fuel the 2008 Subprime mortgage; subprime mortgages were named such because they were mortgages of lower quality.

What's worse, these subprime mortgages were secured by the big banks leading up to the 2008 housing market collapse. The fact that what otherwise would have been decentralized assets - housing markets are traditionally thought to be

4 Ways to Make Your Home Feel Like New

Your home likely felt new and fresh during the first few weeks after you bought it. The daily activities in your home can result in stains, scuff marks and a buildup of clutter. Over time, the walls, floors and furniture may start to look dull, worn or dated. When you are ready to make your home look new again, try these four simple tips. Each of these activities is easy to do and is affordable on any budget.

Removing Clutter

After you have lived in your home for a while, items start to accumulate. It might even seem like things are multiplying in the back of your closets. What felt like a lot of space when you moved in might now feel cramped and stuffed. Removing some clutter from your home could help

Last week, we started talking about how you can become a homeowner with our "How to Become a Homeowner in 10 Steps: Steps 1 - 5" blog post. This week, we're continuing with steps 6 - 10, the final steps to homeownership.

Step 6: Gather the Funds

Now that you've chosen the right home for you and your family, you need to select the right loan. Yes, you've been pre-approved for a specific loan amount, but there are hundreds of different loan types and lenders out there. Answering the questions below will help determine which kind of loan will be most suitable to your situation and needs.

• How much would you like to put down?
• How is your credit?
• Are you a first-time buyer?

In order to get the actual loan, you'll need to fill out an

Buying a home is one of the biggest investments you'll ever make. This week, we're featuring steps 1 to 5 of our "How to Become a Homeowner" guide. Following our tips will make the home-buying process as easy and stress-free as possible. So much so that you might even enjoy yourself!

Step 1: Plan, Plan & Plan

As the saying goes "failing to plan is planning to fail." Making sure you have everything in order, from extra cash and mortgage pre-approval, to knowing where you want to live and what kind of house you can afford, will go a long way in making your home-buying process a successful one.

Do some research about your local real estate market to help better define your needs and your goals.

Aside from needing enough money squared away

$10 million Home Buyer Program Will Salute South Carolina Heroes
3.75% Interest Rate and $5,000 Toward Down Payment Expenses

The South Carolina State Housing Finance and Development Authority (SC State Housing) announces a $10 million initiative designed to help South Carolina law enforcement officers, correctional officers, teachers, firefighters, nurses, veterans and EMS personnel who want to become homeowners.

Buying a first home can be a challenge, even if you are employed in a noble profession, but with a modest salary. Palmetto Heroes will provide low interest home loans to members of these professions who qualify. Eligible Palmetto Heroes home buyers can get a fixed interest rate of 3.75% on a mortgage as well as down payment assistance of up

Nothing makes me more irritated than when I feel like my time is wasted… especially if it could’ve been prevented all along!

Many of you know my wife and I just recently put our home up for sale (http://www.2075mountlebanon.com – shameless plug I know).  My wife also just so happens to be a Realtor® and the Broker-in-Charge of Delco Realty Group, Inc. and has the listing on our home.  I overheard a conversation she was having with the buyer’s agent to get feedback on a showing…

My wife (listing agent): Hello, I wanted to follow up with you and get feedback from you / your clients on our home.

Buyer’s Agent:  OMG!  My clients LOVED your home.  In fact, the husband wanted to make an offer on the spot (serious mancave at my house – 4 car garage with 1/2

In a mortgage market that changes as quickly as this one, today’s fact is tomorrow’s fiction.  For buyers, misinformation can be the difference between qualifying for a home loan or not. Sellers and owners, knowledge is foreclosure-preventing, smart decision-making power! Without further ado, let’s correct some common mortgage misconceptions.

1.       Myth: Buyers with bad credit can’t qualify for home loans. Obviously, mortgage guidelines have tightened up, big time, since the housing bubble burst, and they seem likely to tighten even further over the long-term. But just this moment, they have relaxed a bit.  In the last couple of weeks, two of the nation’s largest lenders of FHA loans announced that they’ve dropped the minimum FICO score guideline from