Even though mortgage interest rates have started to edge up, home buyers and existing homeowners considering a home refinance loan with good credit can still get a competitive interest rate in today’s market. But there are still many home refinancing options out there to consider before signing a new contract. Which Home Refinance Program Is… Read More »
Many Americans remain optimistic about the economy in 2017 and many renters are considering home-ownership for the first time. With consumer confidence soaring once again, many people are preparing for the dream of owning a home and are planning to apply for an FHA mortgage in the coming year. The economic signs are pointing to strong… Read More »
Donald Trump was elected the next president of the United States, and some financial experts believe that the President-elect could be good for the housing and mortgage industry. One of the areas of real estate that could see more activity is in home equity loans. A home equity loan is a form of a second… Read More »
Many homeowners today are choosing to refinance their mortgage because of the very low interest rates that continue to hover in the 4% range as of of 2018. Refinancing a mortgage on your home property can save you hundreds of dollars per month, freeing up money for many other expenses of life. Also, some of… Read More »
If you own a home, you probably have heard about a cash out or cash back refinance. Homeowners are blessed with unique opportunities to access money when refinancing their home. What is a “cash back refinance” and why would you do it? We’ll explain in detail below. Cash Back Refinance Basics A cash out or… Read More »
Shopping for a house in the hot market in 2018 without a mortgage pre-approval is kind of like going shopping without your wallet. But you would be surprised how many people do not get a mortgage pre-approval before they get a home loan. It is important to have a pre-approval letter from your lender so… Read More »
Home buyers love 100% financing because it allows them to become a homeowner on a mortgage with no down-payment. Most first time house buyers relish the ability preserve their capital because there are many unseen costs when moving into a new home. As the US economy is improving, home prices and interest rates are climbing.… Read More »
Let’s say you put down 3.5% down on a FHA loan and pay mortgage insurance monthly as well and want to know how much mortgage interest you can deduct under the new laws. For decades, one of the advantages of home ownership was the ability to deduct mortgage interest from your tax return. While home… Read More »
The USDA mortgage program is a great option as a 100% home loan for many lower income Americans in rural areas, but as with any mortgage loan, it has its pro’s and con’s. Below is more information about the USDA home loan program with zero down payment required. There is very few no down-payment loans… Read More »
Are you seeing advertisements from lenders offering cash our refinances, HELOCs, fixed 2nd mortgages, unsecured bank loans? In 2018, home values are rising rapidly with the average increase from last year a hefty 7%. Many areas have much faster increases in value than that. If you owe less on your home than it is worth,… Read More »
Have you seen mortgage interest rates in 2018? They are nearly a point higher than a year ago. If you buy a home, you will pay more money each month to pay your mortgage. The higher costs of home ownership in 2018 have many people wondering if millennials will continue to buy homes if the… Read More »
If you have been paying attention to the news, you may have been noticing a lot of home equity loan advertisements and cash out offers with home equity lines of credit and 2nd mortgage loans. Many Americans who own their homes are enjoying rising home values. Last year, the average home in America rose 6%… Read More »
If you are like most Americans who own a home, you probably have a mortgage. As the years go by, you may wonder if it is worth it to pay off your mortgage ahead of schedule. This may be a possibility for some homeowners who come into a lot of money through an inheritance or… Read More »
A mortgage refinance can help you to lower your rate and monthly payment, even if you have low credit scores or a poor payment history in some cases. It also can get you cash to do renovations on your home if you want to do a cash out refinance. However, some people are held back… Read More »
Recent news reports suggest that more first-time home buyers are flipping houses and buying investment properties. This can be a smart move as it is a way to make a good return on a real estate investment in the best circumstances. As the real estate market has gotten hotter and demand for affordable homes has… Read More »
Here is a prediction; Buying a home near the BSR wave pool in Waco, Texas is a great investment if you are doing a VRBO and marketing to surfers. Believe it or not, surfers from all over the planet are traveling to Waco Texas because of this amazing wave pool attraction. Surfers of all levels… Read More »
Many Americans who are buying their first home often rely on FHA mortgages to take part in the American Dream and the thought of quickly refinancing their government insured loan doesn’t usually enter their mind. FHA loans are backed by the US government and as a result, they can be offered by lenders at reasonable… Read More »
Self-employed borrowers sometimes face more challenges when getting a home loan by stating their income. If you have an income that is more difficult to document, this can make it more difficult for the underwriter to approve your mortgage application and this is where the bank statement loan comes in. The reason is that mortgage… Read More »
In 2018, mortgage refinance rates are not nearly as low as they were a few years ago. According to a Zillow report in June 2018, the average mortgage refinance rate for a 30 year, fixed mortgage was 4.75%. With the US economy getting stronger and unemployment low, interest rates have been slowly on the rise.… Read More »
Buying your own home is one of the most important financial steps you will ever make. But many first time home buyers should remember the first step in your house buying process should be getting the loan financing set up before you begin looking at homes. If you cannot close the deal, what is the… Read More »
So, you were recently pre-approved for a mortgage. Congratulations! But don’t pop the champagne until closing day and all the home loan documents are signed and recorded. Despite what you might hear, there are plenty of things you can do to kill your mortgage approval before closing day. Here are some of the most common… Read More »
As mortgage rates rise in 2018 and the long-term outlook is for higher rates, some home owners are deciding to refinance their mortgages now before it is too late. If you have the ability to qualify for a mortgage refinance with a lower interest rate without paying excessive closing costs that reduces your monthly payment,… Read More »
Do you have an average or poor credit score? If so you may not qualify for a conventional mortgage in 2018, but FHA may be the prudent choice for a home loan with average credit scores . For many people with average or worse credit scores, the mortgage that makes the most sense is an… Read More »
After the last financial slow down, getting a mortgage with poor credit was difficult. The federal government cracked down on lending and lenders got scared too extend credit on home loans to any but the best borrowers. While too much lax lending practices went on during the last real estate boom, the over-correction probably went… Read More »
Buying a home has always had its challenges, but it is expected that some homeowner friendly tax deductions will disappear as the Trump tax law takes effect. This will mean that for many Americans, it may not be as good financially to own a home. Yes, home mortgage rates are rising, but there are still… Read More »
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