There are so many loan products available for different financial situations. Sometimes it is hard to figure out which one is right for you. Adjustable rate mortgages and fixed rate mortgages are two common types of mortgage loans. Both have their pros and cons and your particular personal and financial situation could determine which one is right for you. Adjustable Rate Mortgages An adjustable rate…
With all the renovation and fix-it and flip-it shows on HGTV, you might begin to wonder if people actually buy fixer-uppers to live in nowadays. Yes, they do and picking the right one could bring a sense of satisfaction for years to come. But how do you know if you have a good fixer-upper or if you should pass? The biggest attraction to fixer-uppers is…
As a homeowner, talks of the Federal Reserve raising interest rates can cause uncertainty. If rates go too high it could impact one’s ability to pay their mortgage. The Federal Reserve’s increase in interest rates does not only affect mortgage rates, it also influences student loans, credit cards and car loans. For those living on a limited budget, this could have a major impact. Homeowners…
You’ve decided to sell your home. Regardless of the reason for selling your home, what can you do to prepare your home for sale to help ensure you get the best offer possible? It may take a little prep work but there are things that you can do to help. When home buyers come to view your home they are likely to look at everything.…
When it comes to mortgage loan terminology some first time home buyers may benefit from an introduction to terms they have never heard before. At times, this can feel a little overwhelming, especially when trying to decide which mortgage loan option is right for you. Conforming and non-conforming loans are two of those terms. The words themselves just hint at what the loan type could…
With home prices on the rise, saving for a 20 percent down payment on a conventional loan may seem daunting for many first time home buyers. Even down payments for an FHA loan for as low as low as 3.5 percent can seem out of reach when you are trying to purchase a single family home at today’s prices. Consider however that there are many…
What is a seller’s market and what does that mean for a home buyer? You may have heard the news that now may be a great time to sell a house. In a seller’s market the housing inventory is low. This means less competition for homeowners to sell their home and more opportunities for multiple offers to be received. Homes are often sold quicker and…
Chances are you weighed the pros and cons of an adjustable rate mortgage when you first purchased your home. If you decided to obtain an adjustable rate mortgage and your initial rate period is about to end, you may want to decide whether or not to refinance into a fixed-rate mortgage or continue with your current mortgage. Not all adjustable rate mortgages (ARMs) are the…
With all the fluctuation occurring with mortgage rates over the last few months you may find yourself thinking should I refinance now and can I still get a low rate? While no one is certain yet on the next rate hike, we do know one thing. Mortgage rates are still lower now than they were several years ago. It is still a good time to…
It’s that time of year again. The holidays are over. You’ve rung in the New Year and made your 2017 resolutions. Some of us have goals to lose weight, finally take that dream vacation or visit family more often. Whatever your resolution is, it won’t happen without taking action. We often look at our health and try to overhaul our lifestyles to make them “better.”…