Homeowners, excited about lowering their mortgage rate by refinancing, have a tendency to ignore the costs because they are rolled into their new mortgage. If there’s no money out of pocket and the payment is lower than what they’re paying, it often seems like a good deal.
Having low mortgage interest rates can be a drawback if the total interest and property taxes paid are below the amount paid for a standard deduction. If you plan a little you may be able to improve your situation at least every other year. Anyone that keeps tabs on their taxes knows that you can […]
Everyone knows that if you pre-pay your mortgage you can save a lot of money in interest and you will also build equity faster. Even though mortgage rates are low right now, they are still higher than what you can earn in a savings account. If you have a little extra money, then pre-paying your […]
Should I refinance? That is a question home owners often ask themselves as the mortgage rates dip. Here we provide you with a bit of advice about the subject.
Federal Housing Administration (FHA) loans can be confusing because the FHA does not make loans. It insures the loans made by lenders it has approved. So, if a lender defaults, the FHA covers the losses – not the lender.
One of the great benefits of an FHA insured loan is that it only requires a 3.5% down payment, making homeownership much more feasible for those potential buyers purchasing Fairfax VA Real Estate, who do not have the traditional 10%-20% down that conventional mortgages require.
Are you thinking about buying your own home? If so, there are several great benefits in doing so. If you’re someone that is settled and doesn’t plan on moving anytime soon, here are three ways you can benefit in becoming a home owner. Three Benefits to Owning Your Own Home No wasted money: When you […]
