4 Renovations to Consider Using a Home Equity Loan
As millions of people sheltered in their homes over the last few months, home renovations have become a booming business. When you add on the fact that interest rates are at their lowest in history, and home values haven’t suffered during the current market downturn, you get the perfect formula as a homeowner to look at a home equity line [...]
4 Questions to Ask Before Deciding if You Should Refinance (Part 1)
With interest rates hitting all-time lows in 2020, a lot of homeowners have started wondering whether it is a good time to refinance. Generally with very low interest rates, the answer to that question is yes. However, there are some important things for you to think about before you move forward that can impact whether refinancing is the right choice [...]
What is “PITI” When Calculating a Mortgage?
When you are thinking about buying a new home, one of the first things you probably do is calculate how much you can afford based on your current income. During that search you may come across the term “PITI”, and as you’re calculating those monthly costs for your new home, it’s important to understand what this term means so you [...]
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 [...]