Should You Be a Homeowner?
Before you become a first time homebuyer, it's a good idea to stop and ask yourself a few questions. Depending on your circumstances, renting for a few more years may be the sound financial move to make. How Long Do You Plan to Stay in the Home? If … [Read More...]
Rent or Buy a New Home?
Is it wiser to rent a home or to take out a mortgage and purchase one? In the past, conventional wisdom has held that buying is more sound financial decision. In today's market, however, there are some cases where you might actually come out ahead … [Read More...]
How to Search for Foreclosed Homes
The historic foreclosure level is no secret these days, and many homebuyers are seeking to find the best deal possible. Buying a foreclosed property might just be the offer of a lifetime! With interest rates at historic lows and refinancing … [Read More...]
Mortgage Rate
The Basics of Mortgage Insurance
Before the current mortgage crisis, lenders routinely allowed borrowers to purchase a home with less than a 20 percent down payment. These borrowers had to agree to purchase mortgage insurance, sometimes referred to as private mortgage or PMI. Unlike most types of insurance, these policies do not pay homeowners in the event of a loss;… Read More
Is Cash-out Refinancing Still a Mortgage Option?
A nice mortgage option in todayÕs economic climate happens to be what many lenders like to use or whatÕs known as a Òcash-out refinancesÓ for debt consolidation, home improvement, or future investments. The benefit of these loans may include avoiding higher interest rates on credit cards. So many homeowners often decide to take cash-out of… Read More
Fixed Rate vs. ARM: Which One Is Right For You?
One of the most common questions that many borrowers have is whether or not they should go with a fixed rate mortgage or an ARM. An ARM is the abbreviation for an adjustable rate mortgage. Typically, an adjustable rate mortgage is one that starts out with a very low interest rate but can adjust upward… Read More