When you’re testing the temperature of the real estate market, it’s to see if it’s a seller’s or buyer’s market. In a seller’s market, there is a wealth of hungry buyers but not enough houses to go around, giving sellers the advantage. In a buyer’s market, there are plenty of homes for sale but not many interested buyers, giving buyers the edge.

When you are ready to buy a home, a real estate professional can help you sort through all the important details, financial and otherwise, involved in the home buying process.

Because of the high cost of most real estate, very few people can purchase a home with savings alone. Therefore, if you are like the vast majority of people, you will be borrowing money from a financial institution to purchase the property you want. Called mortgages, these loan products can be quite complicated. Knowing the basics of how mortgages work can help guide you to the loan that is most appropriate for you.

Using the equity in your home to pay off unsecured debt and/or make home improvements can be a hard financial decision. Low annual percentage rates, tax-deductible interest, and streamlining your monthly payment makes second mortgages extremely attractive. Meanwhile, using your home for collateral is a decision that should be weighed carefully.

If you are considering a reverse mortgage, there are many important decisions to make. Among the biggest decision is determining whether a reverse mortgage is the best option for you.