10 Aug 2023
By RESCO Realty

Will Pre-Approval for a Mortgage Hurt My Credit Score?

Real Estate, ,
Obtaining a pre-approval for a mortgage is an important step when you're planning to buy a home. It gives you an idea of how much you can afford, helps streamline the home-buying process, and strengthens your position as a serious buyer. However, many people worry that the pre-approval process might negatively impact their credit score. In this blog post, we'll dive into the details to determine whether or not a pre-approval for a mortgage will hurt your credit. Understanding Credit Inquiries To understand how pre-approval affects your credit, we need to discuss credit inquiries. When you apply for credit, such…
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08 Aug 2023
By RESCO Realty

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

Real Estate, ,
It is not uncommon for renters to pay more in rent than their landlord's mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than the cost of their mortgage. There are several reasons why renters often pay more than a mortgage payment: Renters are not building equity: When you make a mortgage payment, you are building equity in your home. Equity is the value of your home that you actually own. As you pay down your mortgage, you own…
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04 Aug 2023
By RESCO Realty

Financial Considerations When Buying a Home

Real Estate Tips, ,
Purchasing a home is one of the most significant financial decisions many individuals make in their lifetime. It involves a substantial investment of money and requires careful consideration to ensure long-term financial stability. To navigate the complexities of the home-buying process, it's essential to be well-informed about the various financial considerations involved. In this blog post, we will explore key factors to consider when buying a home to help you make informed decisions and achieve financial success. Establishing a Realistic Budget: Before diving into the home-buying process, it's crucial to establish a realistic budget based on your financial situation. Consider…
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