Blogs and Insights

Apply the 28/36 rule: spend up to 28% of gross income on housing and no more than 36% on total debt, including housing and other monthly obligations.

Compare recent sales of similar homes nearby, adjust for location perks or nuisances, and get a professional appraisal for an exact figure.

The honest answer is mostly no, but with a few exceptions. The IRS doesn't lump all home-related spending into one category. Some of it counts as a repair, some of it counts as an improvement, and those two words matter a lot more than you'd think when it comes to what you can and can't write off.

At its core, being house poor means you have just enough money to cover your house expenses, and not much else

To price your house to sell quickly, start with a comparative market analysis (CMA), set a price slightly below similar homes, avoid overpricing because of personal bias, avoid pricing too low and creating suspicion, and make sure as many buyers as possible see your listing through social media, community groups, and online ads.

Earnest money is a deposit that shows a seller you are serious about buying their home. While it is not legally required in every real estate transaction, most sellers expect buyers to include it when making an offer.

Mutual rescission is when the buyer and seller both agree to cancel a real estate purchase agreement. Instead of completing the sale, they decide together to end the contract before the transaction is finished.

The average total real estate commission in Iowa is around 5.84%, but the actual rate can vary depending on the agent, brokerage, property, and local market.

The 3-3-3 rule in real estate is a simple guideline that helps homebuyers prepare for the financial responsibilities of owning a home.

An assignment contract lets a buyer transfer their rights in a real estate deal to another buyer for an agreed fee or profit.

A lease agreement is a legal contract between a landlord and tenant that explains rent, rules, and how long the property can be used.

A power of attorney gives someone legal authority to act on another person’s behalf in financial, legal, or real estate matters.