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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Many times, it’s been said that more and more money has been lost due to indecisions than was ever lost due to making the wrong decision. In many cases, the larger the decision, more than likely procrastination is going to come into play and allow the act of doing nothing to simply cost something. When […]
