Short-term rentals and your home mortgage The sharing economy—supported by platforms like Uber, Airbnb, and VRBO—offers flexibility and savings, and extra cash for those who have goods or services to offer. But it also raises questions. For example, if you rent your home out through an online marketplace, does it cease being your primary residence […]
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VA loans benefit veterans, active duty, and long-term reservists This weekend, as we recognize and honor those who have served their country in the armed services, it is a good time to take a look again at one of the most important benefits offered to veterans of all military branches. Originated under the GI Bill, […]
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Selling the cow to buy the farm: smart ways to come up with the funds for a home down payment One of the most significant problems facing new home buyers is coming up with the funds for a down payment. Mark Wells of Preferred Financial Services shares some creative—and perhaps unknown—sources that can be used […]
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Resolving home equity line issues Many homeowners took out a home equity line of credit (HELOC) prior to the downturn of 2007. A large number of those loans offered interest-only payments for up to 10 years, and are reaching a point at which they will re-set and begin to amortize. Most products require a 10- […]
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Financing for new-home construction With housing inventories low, many consumers are considering construction projects for new homes. Mark Wells of Preferred Financial Services answers common questions related to construction financing. I want to buy a lot and build a new house on it. Can I get a single loan to do all of that? Yes, […]
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