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Home purchase loans, refinancing, mortgage insurance, escrow, home equity borrowing, and reverse mortgages. Get the right loan and pay less over its life.
An 8% rental property mortgage may have seemed like a great deal 15 years ago. But rates have dropped like a rock, and your investment property’s kitchen and bathroom have seen better days. Should you sell and start over? Not…
On a $400,000 mortgage, the difference between a 4% and a 5% interest rate comes out to almost $240 per month. That’s over $2,800 per year. You could do a lot with that kind of money. And claiming it could…
The mortgage industry is rife with jargon and acronyms, from LTV to DTI ratios. One term you’ll hear sooner or later is “conventional mortgage loan.” It sounds boring, but it couldn’t be more important. Unless you’re a veteran, live in…
In a contract for deed transaction, the buyer skips the traditional mortgage lender and works out a deal directly with the seller. I’ve done a contract for deed deal as the seller, and it has worked out well for both…
With mortgage rates nearly doubling from 2021 to 2022, many homebuyers are taking a second look at adjustable-rate mortgages (ARMs). In fact, applications for ARMs have tripled since the beginning of 2022. A popular loan in the housing bubble of…
Sure, adjustable-rate mortgages (ARMs) are great during the low-rate introductory period. But what happens when the fixed rate expires and starts adjusting? Higher monthly payments, that’s what. That leaves borrowers in a bind: “Should I refinance or stay the course?”…
Buying a home comes with a hundred decisions, large and small. And some are easier to answer than others. Do I have time (and patience) for a fixer-upper or should I shell out the extra cash upfront for a turnkey…
I have been self-employed for a dozen years, and I love the flexibility and freedom of my schedule — setting my hours and being the boss. But one of the biggest challenges is applying for a mortgage. I’ve gotten a…
In the fourth quarter of 2021, the median home sold for just over $408,000. Could you afford to pay that out of pocket? Probably not. That’s why most homebuyers wind up applying for mortgage loans. Getting a mortgage can be…
Refinancing can be a lifesaver if spiking adjustable mortgage rates are making your payments unmanageable. It can also help you get needed cash by turning your equity into money you can use for emergencies, like replacing a broken-down car. Or…
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