When to Lock in a Mortgage Interest Rate
If you’re thinking about buying a home, getting the lowest possible interest rate is crucial; low interest rates mean a lower total monthly payment, and lower payments over the life of the loan. On a $250,000 house, a 0.5% increase in your interest rate adds about $75 to your monthly payment, and over the life of a 30-year loan can [...]
Four Renovations that Can Increase Home Value
If you’re like many homeowners, the value of your home has increased in recent years with a good economy. That increase in home value means you have more equity, and you might be considering using some of that equity to renovate and improve your home. Before you do, though, make sure that the renovations you’re planning are going to actually [...]
Do You Know How to Improve Your Credit Score?
Your credit score holds a lot of power over your life, but many people lack an understanding of their own credit score (and how to improve it), and not knowing the truth or believing some of the myths out there can significantly impact every part of your financial life. A credit score is a number that tells creditors how likely [...]
Mortgage Recast or Refinance Loan – Which Option Is Best?
Are you looking to lower your monthly home loan payment? You can achieve that goal with a mortgage recast or a refinance loan. Plus, by recasting or refinancing your mortgage, you’ll also pay less in overall interest. To know which option would be your best financial move, you need to understand how they differ. Here, we explain how mortgage recasting [...]
How VA Home Loans Compare to Conventional Mortgages
If you’re a veteran, an active-duty service member, reservist or military spouse, taking advantage of your VA home loan benefits may be a smart decision. Mortgages through the U.S. Department of Veterans Affairs come with several advantages that can make buying a home easier on you and your budget. However, no single financing solution is right for everyone – and [...]
How to Qualify for a Utah Investment Property Loan
Getting an investment property loan isn’t as easy as getting a home mortgage. Lenders have stricter requirements for real estate investors, so anyone looking to become a landlord needs to be in a strong financial position. Why the tighter lending standards? Simply put, investment loans are riskier for lenders, as rental properties have higher default rates than primary home mortgages. [...]