Is Now a Good Time for a Home Equity Loan?
Right now there is a lot of uncertainty in the world. As COVID-19 continues to have an impact on economies and jobs, there are many who are looking for ways to stay afloat financially through tough times. If you own a home and you have a significant amount of equity in that home, you may have thought about taking out [...]
Benefits of VA Mortgage Loans and Who Can Qualify (Part 2)
In part one of this post we reviewed some of the biggest benefits of getting a mortgage loan backed by the Department of Veterans Affairs, called a VA loan or a VA mortgage. Now we’ll cover the eligibility requirements. VA Mortgage Eligibility Requirements To qualify for a VA loan, you must first meet the qualifications of being a member of [...]
Benefits of VA Mortgage Loans and Who Can Qualify (Part 1)
There are mortgage loan options specifically available to veterans of the armed services and their spouses called VA loans. These loans often have better interest rates and may not require as much of a down payment, but they do have very specific requirements for who is eligible and how you can qualify. Here is a quick overview of VA loans [...]
Understanding When Mortgage Points Are Worth Paying (Part 2)
In part one of this blog post we covered the basics on mortgage points (or discount points), including the costs to purchase them. We recommend reading that post if you have questions or need more information about mortgage points. When Mortgage Points Could Be Worthwhile If you are not planning to stay in your home for at least as long [...]
Understanding When Mortgage Points Are Worth Paying (Part 1)
Anyone who has ever applied for a mortgage has probably heard the term “mortgage points” or “discount points.”Perhaps you wondered exactly what these points were, and whether they are worth the cost to purchase them. We’ll review the basics on mortgage points, and when it makes sense to consider them in this two-part blog post. The Basics: What is a [...]
How Much Down Payment Do I Need for a Home?
One of the most common questions that comes up as people start looking to purchase a new home is, “How much down payment do I need?” The actual amount that is required will depend on the type of loan you are planning to get, and your own personal financial situation. Understanding Down Payments A down payment is cash you give [...]