Tag: Mortgage

Posted on 12/16/2022

Mortgage basics: 15-year fixed mortgages

Prospective homebuyers and current homeowners know that a mortgage is likely to go hand-in-hand with your home, unless another arrangement has been made. However, there are many options available for those monthly mortgage payments, most commonly through 30-year fixed rate mortgages and 15-year fixed rate mortgages. Most know about the 30-year option, but what about the 15-year fixed...

15 Year Mortgage

Fixed Rate Mortgage

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Posted on 09/16/2022

VA Loans: Major Benefits to Consider

The U.S. Department of Veterans Affairs has helped countless veterans finance their home ownership goals. While you have the choice of a conventional loan offered by other mortgage lenders, there are some significant benefits to VA loans. Here are some of the most important advantages to consider: No Down Payment The most famous benefit of VA loans is...

Loan Beneftis

Loans

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Posted on 05/21/2021

How Credit can Impact Your Mortgage Payments

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...

Credit Score

Home Interest Rates

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Posted on 03/05/2021

Mortgage Penalties: Prepayment

Photo by Steve Buissinne via Pixabay Most are familiar with the key components of a mortgage: how much you're borrowing, what your interest rate is, how many years you'll be paying your mortgage back. There are many, however, who do not understand some of the finer details, including what prepayment penalties are and how they may affect you...

Mortgage

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Posted on 01/01/2021

Mortgage Pre-Approval Guide

Image by Precondo CA from Unsplash Buying your first home can be stressful enough without worrying about whether or not your mortgage loan pre-approval is going to go through. You may not be prepared for the mountains of paperwork that you'll need to submit before a lender gives you the thumbs' up. That's why it's such a good...

Mortgage

Buying Your First Home

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Posted on 12/11/2020

Pros and Cons of Balloon Mortgages

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...

Mortgage

Financing

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Posted on 11/20/2020

Sources of Funding for Home Buyers

Photo by TheDigitalWay via Pixabay Looking to buy your first home? Unless you have a couple hundred thousand in the bank, a rich family member or a winning lottery ticket, you’re going to have to borrow money. TV ads suggest it’s as easy as clicking your phone, and in some cases it might be, but you should know...

Mortgage

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Posted on 05/22/2020

Benefits of Shopping for Mortgage Rates

Photo by Nattanan Kanchanaprat via Pixabay Of course, you want to stay within your budget when buying a house. You certainly want value for your dollar. But a buyer should never lose sight of the fact what they truly desire is getting the home they want and that fits their needs. To that end, potential buyers may put...

Mortgage

Mortgage Rates

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Posted on 01/24/2020

How Should Interest Rates Influence When You Buy?

Photo by Doubletree Studio via Shutterstock Interest rates rise in correlation to inflation and other economic activity. When that happens, it can increase housing costs. But the question is, should it prompt you to buy sooner than you’re ready? The Right Time Is Now In real estate, the right time is always now for someone. Is it the...

Mortgage

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Posted on 11/22/2019

How to Determine Your Lending Eligibility for an FHA Loan

FHA loans have long been a valuable resource for Americans who want to fulfill their goal of homeownership but who don’t have the benefit of a lengthy credit history and equity. If you’re hoping to buy a home in the near future but want to explore all of your options in terms of financing, this article is for you....

FHA Loans

Buying A Home

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Posted on 11/15/2019

What Costs are There Before Securing a Mortgage?

Securing a mortgage to buy a home is probably one of the best and most important milestones in a person's life. It comes with a lot of benefits and bragging rights. But, even with all of the butterflies and feelings of being on cloud nine, the truth of the matter is that there are also costs in securing...

Hidden Costs

Homebuyers

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Posted on 07/26/2019

How To Sell Your Property If It Is On Mortgage

A common problem among homeowners is the reality that life is unpredictable. There are so many things and so many issues that may come along the way. Owning a house can be both an asset and a liability if it does not get done right. Can I Sell My Property Even If It Is On Mortgage? Yes, you...

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