Recently, you may have noticed increased chatter about refinancing your mortgage or buying a new home. But what is all the hype about, and why now? As the COVID-19 pandemic continues and variants unfold, both current homeowners and prospective buyers are benefiting from some of the lowest mortgage rates in our country’s history.
If you’re a homeowner, you’ve probably thought about refinancing your mortgage at some point. After all, home loans are long-term, usually ranging from 10 to 30 years. A great deal can happen in that time, including interest rates dropping, your home value increases, the introduction of new loan types, among other market changes.
One thing many first-time homebuyers are somewhat blindsided by is PMI (Private Mortgage Insurance). You may see it mentioned in some real estate advertisements, but not fully understand what it means.
A HELOC stands for Home Equity Line of Credit. This line of credit loan is based on the equity you have built-in your home. In other words, it’s the difference between what your home is worth and what you have left to pay.
Buying a home is the American dream. And, if you’re like most, you’ll probably have to obtain a home loan to make that dream come true. However, many factors can affect your home loan approval. Here is a list of some of the reasons your loan may not be approved.
When you purchased your home, you probably had a mental list of wants and needs. While most of your ‘needs’ boxes were checked, maybe you sacrificed some of your ‘wants’. Perhaps you settled on a smaller kitchen because you knew there was potential to expand.
Whether it’s your first or forever home, buying a new house is exciting! However, before you start daydreaming about how you’ll decorate and the future memories you’ll create, there is still much to do before you sign on the dotted line.
Are you looking for your first home? As a first-time homebuyer, you will be tackling the real estate market, searching for the perfect house. You will be hiring a real estate agent, checking out MLS property listings, going to home showings, and comparing home values.
While millions of people buy and sell homes every day, the average person will only purchase a few homes during their lifetime. In other words, it isn’t something you do every day. With that in mind, it's essential to understand a few key details about buying or selling a home in order to make the best financial investment.
You've got a new job in a new state or town, and it's time to sell your home and move on. Or, perhaps you've sent your last child off to college, and you're looking forward to selling your home and moving into a smaller place. Whatever your reason for wanting to sell your home, one thing is for sure: You want to do it ASAP.
