One Cent At A Time

A Personal finance blog for saving money and earning more and thus having a better life

10 Things you Should do Before Buying your First Home

10 Comments

We may be very soon start looking for a home of our own. So, I thought this was the perfect time to research on home buying and document that in my blog. It’s not like buying home is the best financial decision for us at this moment. My post should I buy or should I rent, reflects that renting is the better financial decision for us. But, owning home has certain other psychological advantages, which we have ignored so far.

Mortgage Loan

Like most these days, we will start looking for properties over the net. But, before start short listing properties, we should do all the necessary groundwork. This post is  recap of the things I learned so far as part of my ground work.

Continue Reading...

How Student Loans Can Hurt Your Ability to Get a Home Loan

9 Comments

Readers, this is the third guest post from Bill for you. Now I am even considering offering him staff writer position. This post talks about a very important aspect of our lives, mortgage. He talks about the possible impact an outstanding student loan can cause on your ability to apply for a mortgage. Enjoy the post!

Mortgage Loan

Have you been frustrated by your mortgage company when applying for a mortgage loan? If so, the reason might be you’ve not cleared your student loan or probably other types of loans.

Continue Reading...

True Cost of Buying Home – Other Hidden Expenses

4 Comments

Last year I first put serious thoughts on buying home. We have been to this country since last 7 years and have been renting ever since. I studied our Buy vs Rent situation and decided to hold off buying a home, till we save more money or, perhaps till we save enough money to buy without a mortgage. But, apart from home value, taxes and closing costs, there are other hidden costs associated with a home. In this article, we will talk about these associated costs that you should also consider while buying your new home.

Buying home

One of my colleagues is looking at a prospective home and we had a discussion on the expenses he should pay, how much should the budget be?

Continue Reading...

Assess your Borrowing Power First Before Mortgage

3 Comments

The following is a guest post by Betsy Falwell, a good followup after last week’s post 6 financial must do’s for first time home buyer.

Mortgage Loan

“…and it will only cost us $750 a month!” exclaimed the too-loud woman in front of me at Starbucks. We were both waiting for our beverages – me a non-fat, no-water chai tea latte; her some frothy type of seasonal drink – and it was impossible for me not to overhear the conversation she was having about her new home loan with the person on the other end of her cell phone.

Continue Reading...

When, How and Should You Walk Out of a Bad Mortgage?

13 Comments

Numerous articles were published and billions of lines were written since the subprime crisis. Millions of homeowners upside down on their homes, some even having mortgages for more than twice the value of their home.

Then, you compound the problem with the poor job market (June 2012 job report), and people are running into trouble.  Maybe they are forced to cut back, or get laid off.  Now, not only is income tight, but they have a huge mortgage they can’t pay.  And they also can’t refinance their mortgage loans because they have no job and their house doesn’t appraise.

Continue Reading...

How to Shop for a Mortgage Loan?

6 Comments

Continuing from yesterday’s rental property investment post, this is second of the two post series on real estate investment/ownership. If you are shopping for a home loan, it is only natural that you want to find a low interest rate mortgage loan. The surest ways to find the best deal are to:

  • Be a prepared borrower
  • Shop around

How to Be a Prepared Borrower

It takes time and effort to find and qualify for a low interest rate mortgage loan. Being prepared is important whether you are looking to buy a home or refinance your current mortgage, but it is even more important when you are buying a home. If you aren’t prepared in advance, you may see the home you want to buy disappears, because you couldn’t secure financing in time.

Continue Reading...

Investing in Real Estate to Create Wealth

20 Comments

Many of you must have read my post on home buying vs. renting calculation. We are renting and I always have this aspiration to become a rental property owner. This post is a part of that preparation. Nothing is firm yet, just about to start tasting waters aka looking around.

We rent with an aim to reduce loan amount when we eventually buy. Perhaps we can buy with full down payment if we wait for a few more years. But, owning a rental property is a different ball game, where an investor looks for covering mortgage and other costs with rental income. A positive or break even cash flow is what we look for.

Continue Reading...

Do you need Home Equity Loans?

2 Comments

Home equity loans are kind of second mortgage loan. Money is borrowed in case of a home equity loan against the worth of the borrower’s house. There are obvious risks associated with such a credit product. When undertaken wisely, home equity loans can be quite useful and they can help you at times of financial needs.

They have become, in the present context, an acceptable option to get that extra money for your immediate and important need to be met.

Continue Reading...

How to Get a Great Mortgage

9 Comments

You’re finally starting to gain your footing after a slippery financial recession, and now is a great time to take advantage of interest rates on home loans. However, before you seize the economic opportunity to own your own home, there are a few things you should know about mortgage rates first. Stay ahead of the game with these tips on how to find the best home loan for your financial situation.

1. Clean up your credit. You should begin doing this before you even step foot in a lender’s office. Paying your bills on time is essential to building a good credit score, as well as making sure not to open up any new accounts for credit cards in the months prior to applying for a loan (this could drive your credit score down).

Continue Reading...

Home Ownership, Should I Buy Or Should I Rent, A Calculation

51 Comments

A few days back I was invited to a colleague’s housewarming party. My head has been spinning ever since I visited his house. The guy started his career around the same time I did. He bought a 4-bedroom house in (still expensive) south Florida with a yard large enough for a mini soccer match, as well as space for a butterfly area (I saw a few butterflies, too).

Buy Or Rent - What should you do

I am living in a rental condo apartment. I do have enough savings for the down payment required for a similar home, so I started thinking about buying one. I spoke to my wife in the evening about it, and she agreed that this is a good time to buy a home.

Continue Reading...

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances