3 Things Every Future Homebuyer Needs to Know
So you’ve decided to take the next steps toward buying a new home? Congratulations! Home ownership is one of the best ways to build wealth with a long-term investment. It can also provide you with added stability and perks like tax deductions for some homeowners. It is also a big step and definitely not a decision you want to take [...]
Understanding What a “Federally-Backed” Mortgage Loan Means
There are several different types of mortgage loans, but mostly they fall into two larger “buckets”: loans that are federally-backed, and loans that are backed by private companies. There are some important differences between the two, so it’s good to understand some of the benefits of a federally-backed mortgage, and how to find out if yours falls into that category. [...]
Will Interest Rates Get Any Lower?
You have probably noticed that mortgage rates have been dropping in the last few months. Since the start of 2020, when rates were already near historic lows, they have continued to decline. In fact, this year alone the interest rates on mortgages have hit record lows 11 different times. If you are in the marketing for a mortgage loan or [...]
Does a No-Cost Loan Really Have No Closing Costs?
As you are deciding on which home loan is going to work best for your financial situation, one of the things you will need to discuss with your lender is how much you can spend on closing costs. Understanding Closing Costs “Closing costs” is a broad term that is used to describe a variety of fees that homeowners normally have [...]
Benefits of a Home Equity Line of Credit (HELOC)
For most people there is a time in your life when you could use a little bit of extra cash — to help pay for tuition as your child goes away to college, pay off medical bills, make repairs or renovate your home, or pay off high-interest debts. Your home might offer an opportunity to borrow money through a home [...]
4 Questions to Ask Before Deciding if You Should Refinance (Part 2)
In part one of this blog post we discussed two important questions that you should start with before deciding whether to refinance your mortgage: Why are you considering refinancing right now? How long will you be living in your home? These two questions can help you decided whether it’s a good financial decision to refinance, but they’re not the only [...]