Current mortgage rates range from 3.9% for a 15-year conventional fixed-rate loan to as high as 7.13% for a 10-year home equity loan. Thirty-year fixed-rate mortgages range from 3.39% for FHA loans to 4.14% for jumbo loans. Understanding current mortgage rates helps buyers find the best rate for purchasing their home. Current Interest Rate for…
About the Author
Melanie Patterson
Melanie Patterson, MA, CBA is a staff writer at Fit Small Business specializing in Real Estate Investing with over 25 years of combined experience in real estate sales, property management and residential buy-and-hold real estate investing. In addition to managing her own property, Melanie has also managed a women’s emergency shelter.
Before joining Fit Small Business, Melanie worked as a certified business advisor for the New Hampshire Small Business Development Center, a discretionary program of the US Small Business Administration and owned and operated a private home-based business as a business development, sales and marketing coach.
When not writing for Fit Small Business, Melanie is in her gym training five days a week as a competitive natural bodybuilder, hiking and kayaking on the many mountains and lakes in her region, and planting a small vineyard, and flower, herb and veggie gardens on her 13.5 acre farm in rural NH where she lives with her husband, David, and their 17 year-old Jack Russell Terrier, Oscar.
Propertyware vs Buildium: Price, Features & What’s Best in 2019
Choosing between Propertyware vs Buildium for managing rental property depends on the number of units property managers or investors manage. Propertyware is better for property management companies with at least 250 units. Buildium is good for investors and property managers handling any size portfolio. Both offer a free 2-week trial and a free demo. When…
Hard Money Loan Calculator: How Much Will Your Loan Cost?
Hard money loans are typically the fastest route to financing rehabs or property flips. Hard money loans are usually approved based on the property’s value rather than the buyer’s qualifications. However, hard money is often more expensive than traditional financing. Our hard money loan calculator will help you determine how much hard money might cost….
What Is Property Management?
Property management is the operations management of the day-to-day activities of either an investor’s own rental properties or an independent company that handles multiple rental properties for many investors. Property management includes renting vacancies, managing income, expenses, and maintenance. Property management includes both residential and commercial properties, and sometimes land. How Property Management Works Whether…
Buying a Duplex, Triplex, or Fourplex—The Ultimate Guide
Buying a duplex, triplex, or fourplex can be a good investment for both investors and residential homebuyers. Purchasing small multi-unit properties requires some basic understanding of how to locate, finance, and manage multiple units. Those activities are only slightly more involved than buying single-family properties but can lead to a profitable multi-unit investment. Proper financing…
The 5 Best Student Housing Property Management Software in 2019
The best student housing software makes it easy for owners to advertise, rent, and maintain vacancies by giving them cloud-based solutions to organize, track, communicate, and manage data. They also provide affordable tools to help owners scale. The best student housing property software can help you manage everything from a small portfolio to college dorms….
How to Post a Rental on Zillow Rental Manager for Free
Zillow Rental Manager is a free online rental platform that helps landlords market vacant rental units, provide prospective tenants with rental applications and tenant background checks, and collect rent online. You can create an account and start adding properties and photos for free in minutes. If you’re looking for complete online property management software, look…
How Long Does a Landlord Have to Fix Something?
The amount of time a landlord has to fix something depends on state, federal and local laws. The timeframe to fix critical items ranges from three to 30 days. However, to avoid further damage and keep happy tenants, landlords should be diligent and fix issues as soon as they occur. Managing landlord repairs responsibilities can…
AppFolio vs Yardi: Price, Features & What’s Best in 2019
We compared property management software rivals AppFolio vs Yardi on price, features, and customer reviews. AppFolio is ideal for investors of small to mid-sized portfolios who want a simple, easy-to-use platform. Yardi is best for larger portfolios that need a web-based platform for operations management, executing leases, running analytics, and accounting. When to Use AppFolio…
Buildium vs Appfolio: Price, Features & What’s Best in 2019
Buildium vs Appfolio: These rival online property management software are for managers of small and large portfolios comprised of residential, student, commercial, or community housing. Pricing is based on numbers of units with some differences once a user reaches a certain number of units. Buildium starts at $47, while Appfolio starts at $250. When to…
What a Mortgage Prepayment Penalty Is and Who Has to Pay
Prepayment penalties are fees some lenders charge borrowers who pay off their loans early, refinance, or pay a substantial portion. In 2014, prepayment penalties became restricted from residential loans on owner-occupied property, with some exceptions. Prepayment penalties are sometimes charged as a percent of the loan balance starting at 3% and declining over three years….
Investment Property Line of Credit (LOC): The Ultimate Guide
An investment property line of credit (LOC) is a short-term financing option for non-owner-occupied properties. Investors will typically qualify for a predetermined amount and then draw cash from that amount as they need it. It’s revolving like a credit card where you only pay interest on the money you actually use. If you’re an investor…
