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There’s little doubt that we’re borrowing more and there’s also little doubt that credit is one of the great conveniences of modern life. That said, like Goldilocks you want to borrow the amount that’s just right — and no more.

So what’s the right level of debt?

The loan qualification standards used by mortgage lenders are an important guideline. You can typically get that old standby — the fixed-rate, 30 year mortgage — if no more than 28 percent of your gross monthly income goes for mortgage principal and interest, property taxes and property insurance (PITI). In addition, as much as 36 percent of your gross monthly income can go to regular monthly costs — PITI plus car payments, credit card debt, school costs, etc. In addition, because they have more liberal qualification standards, you can often borrow more with other loan programs such as FHA, VA and adjustable-rate financing.

If you put less than 20 percent down on a home mortgage, lenders often require you to have Private Mortgage Insurance (PMI). PMI protects the lender if a home buyer were to default on the loan.

PMI is extra insurance that lenders require from most home buyers who obtain loans that are more than 80 percent of their new home’s value or stated more clearly, a home buyer with less than a 20 percent down payment is required to pay PMI. The premium is usually paid on a monthly basis usually along with the mortgage payment and can range approximately between $250.00 to $1,200 per year.

Real Estate Investment Associations (REIAs) are a great way to learn about investing in Real Estate. Many REIAs have monthly programs on hot topics such as foreclosures, short sells, wholesaling, rehabbing, asset protection, tax structure, and many others. The easiest way to start a part-time or full-time real estate investment career is to attend your local REIA meeting. You can learn from local, regional and sometimes national professionals who will share their mistakes with you. These people will help you avoid the costly pitfalls they experienced throughout their career.

Commercial real estate covers a large chunk of the real estate world. It includes office and retail properties like shopping centers, industrial properties, land and investments and hotel /resort properties. There are various agencies involved in this line of business and they aim to provide the entire range of corporate and investment services to the buyer. One important aspect is the errors and omissions insurance for agents dealing in real estate. Since this line is prone to malpractices, this insurance provides some coverage against it. The risk always exists, no matter how well you complete the job. It basically covers payment of claims for a variety of points that may come up against a real estate agent.

We all know that we can take a second mortgage for up to the amount of equity we’ve built in our home loan with our payments, but when is it a good idea to do that? Is it a good thing or a bad thing? Should we use that money or leave it alone? The answer is the same as the answer to most complicated questions like this, especially those having to do with financial choices: it depends.

It depends on many factors:

Lying at the foothills of the mighty Rocky Mountains, the state of Colorado with an average elevation of 6,800 feet is the state with the highest elevation in the United States. Its capital and largest city, Denver, is nicknamed “The Mile-High City” because its official elevation, measured on the fifteenth step of the state capitol building’s west side, is one statute mile (5,280 feet or 1,609 meters) above sea level. Colorado Springs is the second largest city in Colorado, while Boulder and Fort Collins are two other hot spots.

In a slow real estate market, which is the case for most of the U.S.A. currently, a seller
financing strategy can be of great benefit. This will widen the market to include buyers
who are unable to get bank financing and often will bring a sale more quickly, and
sometimes at a higher price.

You have found that dream home, now which of the home loan programs is right for you? There is no simple answer to that question; home loan programs need to be studied to choose what is best. This all depends upon your individual family preferences and financial circumstances.

Some factors to consider when choosing from the different home loan programs.

Your current financial situation, do you expect this situation to change? How comfortable are you with a changing mortgage payment? A fixed rate mortgage can save you thousands in interest over the period of the loan, but it will also give you higher monthly mortgage rates. An adjustable rate will start you out with lower monthly payments but you could face higher monthly payments if the rates change.

Real estate agents are very special people. In fact they possess almost godlike qualities. At least this is the only conclusion I can draw when I see the fat pay checks that an agent notches up for opening a house door and walking around with some people

Now I know I am going to upset many agents with this article but so be it.

What I do want to do is demystify the whole agent versus For Sale By Owner debate.

As a senior, it can be difficult at times to enjoy life to its fullest. Sometimes there are just times when you need extra cash or a line of credit to access anytime you choose. Would you like to purchase a vacation home, assist or send your grandchildren to college while you are still here to see their dreams come true, help your favorite charity or church, pay off your current home to free up monthly cash flow, help your parents with medical expenses, or take that trip you have always dreamt of? Did you answer “Yes!” to any of these? If so, a reverse mortgage may be a great option for you.