Tag: Mortgage

Posted on 12/11/2022
What Affects Housing Prices?
Housing prices are constantly changing, which can make both buying and selling a home more complicated. While it’s difficult to predict future changes, it’s important to understand the key factors that affect the housing market and home prices. Here are the five major things that affect housing prices: Economic Change The overall health of the economy is a...
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Posted on 10/16/2022
Home loans: Common repayment options for a 30-year mortgage
30-year mortgage rates are the norm among mortgage rates. Most options for monthly payments involve a fixed interest rate, while there are a few that may offer an adjustable rate mortgage for homebuyers searching for interest flexibility. However, some homeowners may want to repay their mortgage lenders faster than originally planned, while others may need more flexibility in...
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Posted on 09/25/2022
How long does it take to buy a house? Major factors to consider
If you’re interested in purchasing property, you might be wondering, “how long does it take to buy a house?” Home buying is a lengthy process even when everything goes smoothly, and can easily become longer and more complicated with every potential hiccup. To help you better prepare for the process and save time, here are some key tips...
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Posted on 06/05/2022
Mortgage: Recasting your monthly payments
Recasting mortgage payments is a little-known gem when it comes to homeowner finances. It’s often viewed as a method to lower monthly payments without extending the length of your loan term. But what exactly is mortgage recasting? Are there any disadvantages to it? What about my interest rates? Will my overall loan balance increase or decrease? Here’s a...
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Posted on 05/09/2021
How Your Credit Score Affects Your Interest Rate
Image by Tierra Mallorca from Unsplash One of the most important things to check once you decide to start the home-buying process is your credit score. The three major credit bureaus keep track of how you pay for your credit and how much credit you have. Your score fluctuates, sometimes daily, depending on how much you owe and...
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Posted on 11/22/2020
Is a Balloon Mortgage Right for You?
Image by Jojje from Shutterstock Many people own homes through a mortgage agreement. Traditional mortgages are primarily fully amortized or gradually paid off with regular payments over the lifetime of the loan. Each payment contributes to both the principal and the interest. A balloon mortgage is a short-term home loan with fixed-rate monthly payments that only take care...
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Posted on 08/23/2020
Mortgage Options for Luxury Properties
Photo by Vincent Rivaud from Pexels When you buy a luxury home, you have several options when it comes to paying for the home. While some luxury buyers invest fully in the home and purchase outright, most find that opting for a mortgage of some type keeps options open and reserves capital for other things. Mortgages can be...
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Posted on 01/05/2020
What's a Seller-Financed Mortgage and Should I Consider One?
Photo by Charles Thompson via Pixabay A vast majority of homebuying transactions rely on the buyer qualifying for a mortgage through a bank. After all, most people don't have enough cash lying around to buy a home outright. Nowadays, you have more options with different types of lenders and alternative financing companies where you can seek pre-approval online....
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Posted on 12/15/2019
Mortgage Tips You Should Know Before You Buy
If you are thinking of buying a home, you probably have been getting your finances for some time. First-time homebuyers need the right information to avoid making big mistakes when they purchase their homes. The leap into home ownership is a big one, and you’ll want as much information with you along for the ride. Below, you’ll find a...
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Posted on 11/10/2019
3 First-Time Home Buyer Mistakes You Can Avoid
With so much to think about these days, it is not surprising that some first-time home buyers make mistakes they later regret as they shop for a home for sale. Presented here are some of the most popular mistakes, along with tips to help you avoid a similar fate. Looking for a home before getting a mortgage Many...
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Posted on 06/30/2019
Incentives for First Time Home Buyers
Purchasing your first home can be a thrilling journey, and an incentive can help to lessen the burden. To qualify for this incentive, you don't need a massive pile of cash in the bank for a down payment. You also don't need a perfect credit score. As a first time home buyer, there are specific scores to help...
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