There are several reasons why purchasing a home is preferable to renting one. Rent payments go directly into the pocket of a landlord, while mortgage payments result in the accumulation of equity and the eventual ownership of the property. The tax advantages of home ownership are also significant si...

First-time homebuyers, defined as people who haven't owned a home in the past three years, are eligible to receive up to $7,500 in tax credits, based on a joint filing couple earning less than $150,000 annual income. Individuals earning less than $75,000 can receive up to $3,750. The tax credit is a...

Applications for home loan refinances have spiked due to lowering interest rates. Following an interest rate drop from 6.06 percent to 5.86 percent during one week in September and 4.875 percent in December. With interest rates expected to stay at historic lows, mortgage refinances should experience...