http://www.openingdoorsllc.com The Latest Real Estate News, Tips For Homeowners, & Comprehensive Hub For Turning Your House Into A Home Fri, 30 Jul 2010 00:32:33 +0000 en hourly 1 http://wordpress.org/?v=3.0 http://www.openingdoorsllc.com/2010/07/26/capital-gains-and-future-profit/ http://www.openingdoorsllc.com/2010/07/26/capital-gains-and-future-profit/#comments Mon, 26 Jul 2010 14:20:19 +0000 chrismusial http://www.openingdoorsllc.com/?p=3397 Since 1977, the tax laws have allowed home owners to sell their main residence as long as they have lived there for two of the five years leading up to the sale and keep a huge chunk of the profit tax-free. Married couples can rack up as much as $500,000 tax-free while singles get up to $250,000. It does not matter if you sell the house and move into a more expensive mansion or a less expensive cottage or even a rental apartment.]]> http://www.openingdoorsllc.com/2010/07/26/capital-gains-and-future-profit/feed/ 0 http://www.openingdoorsllc.com/2010/07/16/information-needed-for-loan-application/ http://www.openingdoorsllc.com/2010/07/16/information-needed-for-loan-application/#comments Fri, 16 Jul 2010 13:25:41 +0000 chrismusial http://www.openingdoorsllc.com/?p=3292 The more documentation you have handy then the faster your loan application will be approved. The lender will pull your credit reports and scores. You may be asked to pay a nonrefundable loan-application fee of $50 or $60. But check out those fees before you apply. Some lenders and that includes big internet companies do not charge any application fees but others can be quite high like in the banks.]]> http://www.openingdoorsllc.com/2010/07/16/information-needed-for-loan-application/feed/ 0 http://www.openingdoorsllc.com/2010/07/04/the-downsides-of-seller-financing/ http://www.openingdoorsllc.com/2010/07/04/the-downsides-of-seller-financing/#comments Sun, 04 Jul 2010 13:38:19 +0000 chrismusial http://www.openingdoorsllc.com/?p=3149 There are also downsides with seller financing, the most obvious being the fact that the seller is taking a chance by extending a hefty dose of credit to a borrower whom other lenders have turned down. Buyers also have to be aware of certain challenges of seller financing. Before getting too involved in the process ask yourself the questions below.]]> http://www.openingdoorsllc.com/2010/07/04/the-downsides-of-seller-financing/feed/ 0 http://www.openingdoorsllc.com/2010/07/02/seller-financing-is-it-a-good-thing/ http://www.openingdoorsllc.com/2010/07/02/seller-financing-is-it-a-good-thing/#comments Fri, 02 Jul 2010 13:29:23 +0000 chrismusial http://www.openingdoorsllc.com/?p=3142 Depending on your financial situation there are both pros and cons of using seller financing. Below are the positives that you can expect from this financing strategy.]]> http://www.openingdoorsllc.com/2010/07/02/seller-financing-is-it-a-good-thing/feed/ 1 http://www.openingdoorsllc.com/2010/06/28/homebuyer-programs-available-in-your-region/ http://www.openingdoorsllc.com/2010/06/28/homebuyer-programs-available-in-your-region/#comments Mon, 28 Jun 2010 20:17:01 +0000 chrismusial http://www.openingdoorsllc.com/?p=3130 Low-Interest Mortgages – T he purpose of the low-interest loan program is to preserve the existing housing stock and encourage neighborhood improvement efforts. The program provides home repair loans to low-income and moderate-income home owners at interest rates ranging from 0 to 5 percent depending on household income and family size.]]> http://www.openingdoorsllc.com/2010/06/28/homebuyer-programs-available-in-your-region/feed/ 0 http://www.openingdoorsllc.com/2010/06/16/how-much-is-the-home-you-can-afford/ http://www.openingdoorsllc.com/2010/06/16/how-much-is-the-home-you-can-afford/#comments Wed, 16 Jun 2010 16:04:59 +0000 chrismusial http://www.openingdoorsllc.com/?p=3075 Just how much home you can afford relies on two factors: how much money you can borrow and how much down payment you have available to put down on the home. Thanks to the internet, you no longer have to sit down with a lender to get an idea of what you can afford as there are several online resources where buyers can key in a few numbers and get an estimate of how much home they can afford. ]]> http://www.openingdoorsllc.com/2010/06/16/how-much-is-the-home-you-can-afford/feed/ 0 http://www.openingdoorsllc.com/2010/06/14/veterans-administration-loan/ http://www.openingdoorsllc.com/2010/06/14/veterans-administration-loan/#comments Mon, 14 Jun 2010 16:17:58 +0000 chrismusial http://www.openingdoorsllc.com/?p=3081 Veterans Administration (VA) loans are available to qualified veterans, reservists and active servicemen and women. These loans allow you to secure a mortgage up to a specified amount with no down payment and with flexible qualifying guidelines. The loans typically offer lower interest rates than you would find on any other mortgage. ]]> http://www.openingdoorsllc.com/2010/06/14/veterans-administration-loan/feed/ 0 http://www.openingdoorsllc.com/2010/06/09/loan-features-to-avoid-interest-only-loans/ http://www.openingdoorsllc.com/2010/06/09/loan-features-to-avoid-interest-only-loans/#comments Wed, 09 Jun 2010 20:57:15 +0000 chrismusial http://www.openingdoorsllc.com/?p=3045 Welcome to one of the most controversial areas of mortgage lending these days. These loans are the scary spawn of the boom in housing prices and they are being pushed hard by mortgage lenders. Many borrowers unfortunately don't understand the risks that loom down the road when they must start paying back the principal or refinance to another mortgage. ]]> http://www.openingdoorsllc.com/2010/06/09/loan-features-to-avoid-interest-only-loans/feed/ 1 http://www.openingdoorsllc.com/2010/06/04/how-to-reduce-closing-costs/ http://www.openingdoorsllc.com/2010/06/04/how-to-reduce-closing-costs/#comments Fri, 04 Jun 2010 20:19:36 +0000 chrismusial http://www.openingdoorsllc.com/?p=3019 Closing costs are very straightforward but there are certain ways that you can reduce your out-of-pocket expenses. You can ask the home seller to cover some of the costs, for example, since lenders allow the seller to credit the buyer up to 5 percent of the purchase price for nonrecurring closing costs. These are costs that are paid on a onetime basis such as escrow, title and transfer fees.]]> http://www.openingdoorsllc.com/2010/06/04/how-to-reduce-closing-costs/feed/ 0 http://www.openingdoorsllc.com/2010/06/02/what-are-closing-costs/ http://www.openingdoorsllc.com/2010/06/02/what-are-closing-costs/#comments Wed, 02 Jun 2010 17:41:22 +0000 chrismusial http://www.openingdoorsllc.com/?p=3003 What are closing costs? Closing costs, also known as settlement costs are expenses above and beyond the price of the property that the buyers and sellers have to pay when transferring ownership of a property. That includes a loan origination fee, the cost of the title search, notary fees, attorney's fee, taxes and the cost of the property survey. Your total closing costs will vary depending on your location and either the lender or the real estate agent can provide estimates of closing costs on your mortgage. ]]> http://www.openingdoorsllc.com/2010/06/02/what-are-closing-costs/feed/ 0