2508, 2019

PITI: Home Loan Payments Explained

August 25th, 2019|

Your home loan payment may make up a significant part of your monthly budget, so understanding where the mortgage money goes is important. Contrary to what many people think, you are not just paying back the money you borrow. Here, we explain the four components of a home loan payment -- principal, interest, taxes and insurance (PITI) – and the [...]

1608, 2019

Home Equity Loan or Cash-Out Refinance: Which Is Right for You?

August 16th, 2019|

Home equity loans and cash-out refinance loans both allow you convert the equity in your home to cash you can access immediately. Either option can provide you with the funds for renovations, repairs, debt consolidation or anything else you need. Here, the Integrity First Lending team looks at the differences between the two types of loans and shares expert insights [...]

1208, 2019

What are Mortgage Discount Points?

August 12th, 2019|

When you take out a home loan, your lender may ask if you want to pay for any mortgage discount points. Paying for points is a way of prepaying interest on your mortgage. The more you buy, the lower your home loan interest rate will be – which is why the process is referred to as “buying down the rate.” [...]

1907, 2019

Home Refinancing: 6 Reasons a Refinance Loan May Be Right for You

July 19th, 2019|

When is the right time for home refinancing? A refinance loan could help you meet your financial needs and goals, and there are several situations that indicate refinancing could be to your benefit. If any of the following apply to you, you may want to kick start the mortgage refinance process soon. No. 1: You Can Get a Lower Interest [...]

1207, 2019

VA Home Loans – Top 10 Benefits for Borrowers

July 12th, 2019|

VA home loans can make becoming a homeowner easier and more affordable—yet only 13 percent of those who are eligible take advantage of their VA loan benefits. For veterans, reservists, active-duty service personnel, military spouses and members of certain other groups, VA home loans can be the ideal mortgage solution. Here’s why. No. 1:  No Down Payment Unlike most conventional [...]

507, 2019

The Basics of Closing Costs for First-Time Home Loans

July 5th, 2019|

In addition to a down payment, most conventional first-time home loans come with closing costs. These fees can make budgeting to buy a house more difficult, so understanding what to expect ahead of time is important. Here, the mortgage experts at Integrity First Lending explain what closing costs cover, how much yours may be and an option to avoid saving [...]