In the southern region of Ticino, stricter lending policies and pandemic measures have limited the market for foreign buyers.

Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers, especially those with lower credit scores. A new Zillow analysis shows that, nationally, buyers with “fair” credit could be paying up to $288 more on their monthly mortgage payment than those with “excellent” credit.

A buyer’s credit profile plays an important role in how much a home ultimately costs.

Today’s home shoppers can expect to pay around 62% more per month to buy a typically priced U.S. home than they would have a year ago. Zillow examined credit scores against current mortgage rates and found that such monthly cost increases are exacerbated for millions of Americans with low credit scores or less than perfect credit histories.

A borrower with an “excellent” credit score — between 760 and 850 — can qualify for a 30-year fixed-rate mortgage with a 5.099% interest rate. For the same loan, a similar borrower with a “fair” credit score — between 620 and 639 — qualifies for a 6.688% rate. This equates to a $288 difference in monthly mortgage payments and nearly $103,626 in interest over the life of a 30-year fixed loan, based on the current price of a typical U.S. home ($354,165).

“When you are thinking about buying a home, the best first step you can take is to fully understand your financial picture, what you can afford and your outstanding debts or obligations,” said Libby Cooper, Zillow Home Loans vice president. “If you find you have low credit, take realistic steps to improve your credit score by doing things like disputing possible report errors and paying down as much debt as possible. This could increase the amount of home loan you qualify for.”

High mortgage rates, challenging affordability and a gloomier economic outlook are keeping buyers on the sidelines, Mortgage Bankers Association forecaster Joel Kan said.

Americans are constantly on the move, and using U-Haul trucks is still one of the most popular ways people choose to get their stuff from one place to another. According to one study, each year, approximately 9.8 percent of Americans move to a new home. 

But with gas prices skyrocketing and the cost of living continuing to increase, is using U-Haul trucks to move still an affordable choice?

Read on to see if U-Haul costs are rising and to learn about the basics of moving truck rental costs and moving costs. You’ll be able to determine whether choosing U-Haul is a viable option for you.

U-Haul Costs Remain Stable

In a June 2022 press release, U-Haul claimed that its low base rates for in-town rentals remained the same. The fleet of U-Haul trucks also includes a variety of fuel-saving features that are much more efficient than the competition.

The company also has over 23,000 different rental locations across the nation, giving residents in every state a much more easily accessible choice. Not only does this make it easier for you, but it also reduces fuel use. Simply find the nearest U-Haul location, and drop off the truck when you’re done.

Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some choose a 15-year mortgage. Financing a home is the easiest way to buy a house. After all, it allows you to pay off your home for the next 15 to 30 years instead of saving enough money to pay cash for it.

But why choose a 15-year loan? What causes people to want a shorter loan?

Here is a guide to help you learn why a 15-year mortgage is the best option when financing a home purchase.

Pay It Off Faster

Many people choose 30-year mortgages to have enough time to repay their loans, but many also turn to 15-year loans. The number one reason to choose a shorter loan is to pay it off faster.

You’ll see a big difference if you consider your current age and age when you repay the loan. For example, if you’re 30 years old, you can repay your mortgage by age 45 or 60. Which do you prefer?

Known for its stone houses and friendly vibe, this Ulster County hamlet is also conveniently located, with places to shop and beautiful scenery.

Known for its old stone houses and friendly vibe, this Ulster County hamlet is also conveniently located, with plenty of places to shop and beautiful scenery.

Find out what Compass' Q2 earnings numbers mean and what they're doing to cut costs in the face of their ongoing cash burn.

A Tudor-style home in Nashville, a 1904 Edwardian house in San Antonio and an 1848 Georgian Revival in Bethel.

This week, we're asking you: Where do you stand on CRMs? Are they indispensable or more trouble than they're worth?

The 281-acre park, which turns 150 this year, may hold clues on how to navigate an increasingly extreme ecological future.

Inman Connect New York is the place to be in January. Select Subscribers save 50 percent on tickets to ICNY for a limited time — find the link inside.

As homes continued to develop into the 21st century, there was a return to traditional aesthetics, updated with modern features and conveniences. Gerard Splendore's Circa series continues with styles of the 2000s.

Creating a great Facebook strategy means balancing the spontaneity of social media with the intentional aspects of effective marketing. Laura Stace offers tips to get you started or help you take your Facebook game to the next level.

DropOffer's app provides data on existing homes for agents and buyers to leverage when approaching off-market sellers and it gives buyers an alternative to what's on the open market.

As cumulative losses climb toward $1 billion, co-founder Nima Ghamsari still plans to lead a "once-in-a-lifetime industry transformation" powered by the mortgage tech provider and title insurer.

Compass, the largest brokerage by closed sales volume nationwide, is opening its second St. Louis branch following its first in June 2021, which has grown to more than 120 agents and staff.

More buyers have been backing out of deals than at any time since the early weeks of the pandemic. And in July, that share ticked up again, according to a new report from Redfin.

Estated maintains information on millions of U.S. properties and works with companies in the mortgage, insurance and real estate sectors.

Even though investors have slowed spending, single-family rentals are in a stable position and they're likely to help keep it that way, Doug Brien of rental platform Mynd said at Inman Connect.