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Category Archives: Refinancing

Home Affordability Through Buydown

access_timeOctober 8, 2022personThierry Roche

“It’s a fact that many households are impacted by higher mortgage rates as they no longer earn the qualifying income for the median-priced home.” Nadia Evangelou, NAR Economist. What this means is that the rapid rise in mortgage rates during 2022 is coupled with continued appreciation of home prices. This has limited the number of […]

Giving An Arm (Or A Leg) For A Lower Rate

access_timeJune 10, 2022personThierry Roche

What exactly is an ARM? There isn’t any kind of interest rate known as a LEG, at least not as far as I’m aware, but an ARM is an adjustable-rate mortgage. Especially lately, rising interest rates added to increasing home prices are causing the affordability factor of owning a home to be quite the issue […]

Will Points Make A Difference?

access_timeFebruary 4, 2022personThierry Roche

Let’s talk about mortgage payments. Some common ways to lower your mortgage payment are to make a larger down payment and to improve your credit score. Improving your credit score is especially important when you’re applying for a mortgage. Here’s another way to lower your payment – buy down the interest rate for the life […]

Why APRs Are Higher Than Interest Rates

access_timeJanuary 15, 2022personThierry Roche

We should probably start this with “what exactly is an APR?”. An APR is an “Annual Percentage Rate”, and is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. APR calculates the interest rate and loan fees […]

Mortgage – Start 2022 On The Right Foot

access_timeDecember 22, 2021personThierry Roche

It might be a good idea to start off 2022 on the right foot – let’s get your mortgage paid down faster! If you have a situation where you have a lump sum of cash which can be used to pay down your existing mortgage, you may have several options. If you prepay the principal […]

Credit Utilization and How It Affects You

access_timeNovember 30, 2021personThierry Roche

How much of your credit is available at a given time? When applying for mortgages and loans, a lower credit utilization means that the borrower is not relying heavily on their credit, and also means that they are using their credit wisely. Basically, the higher the percentage, the higher the risk is involved which will […]

Pay My Mortgage Off Faster? You Can Do It!

access_timeNovember 24, 2021personThierry Roche

Mortgage free – if those words sound like music to your ears, keep reading! It is possible! Some people do consider their house payment to be as basic as a monthly utilities bill, but with some discipline and smart thinking, those words that sound like music now can become a reality. Let’s think about this […]

Attention Veterans: Have You Considered An IRRRL?

access_timeNovember 12, 2021personThierry Roche

If you’re a veteran, I’d first like to take this opportunity to thank you for your service to our country. There are loan options available to you, and one of those is an IRRRL. You must be a Veteran with a current VA-backed home loan to qualify. IRRRL is an acronym for Interest Rate Reduction […]

How To Know If You’re Eligible For Cash-Out Refinance

access_timeOctober 15, 2021personThierry Roche

It isn’t much of a secret that home appreciation has quite dramatically increased over the past two years. With that increase, most homeowners have equity. Quite often, a common way to release part of that equity is a cash-out refinance, however not all homeowners are currently eligible. First off – what is it? A cash-out […]

Mortgage Forbearance – Is It The Right Choice?

access_timeAugust 18, 2021personThierry Roche

I’m sure you’ve heard the famous saying “money doesn’t grow on trees”. Some homeowners unfortunately in this past year wish it did, when they couldn’t make their mortgage payments due to COVID-19. Then, they were relieved when they found out that their mortgage lender or service provider allowed them to temporarily pause or possibly even […]

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