As the trauma from the Great Recession fades from memory, are Americans increasingly embracing one of the financial maneuvers that caused a great amount of pain a decade ago – cash-out refinancing? For those of you that are unfamiliar with types of mortgage refinancing, a bit of context might be in order. People typically refinance… Read More »
Buying a house can be a stressful time, so it is important to be organized and understand what the credit requirements are up-front for the various mortgage programs in the United States in 2024. Read on to see what home financing programs are available and what the home loan minimum credit scores are set by… Read More »
Getting a new mortgage loan on your home to replace the first one is known as refinancing. The most common reason to refinance a mortgage is to get a better term and lower interest rate, both of which will save you money in the short and long term. What is Refinancing? Here’s how a refinance… Read More »
For many mortgage holders, the idea of refinancing is unappealing. Each time you refinance, the clock resets. Basically, you could be turning back the mortgage clock 30 years every time you do a refinance. In some cases, particularly if you are just a few years away from paying off your loan, refinancing may be a… Read More »
Getting pre-approved for a mortgage is a crucial first step in home buying. Many potential first time home buyers make the mistake of running out to look at homes before getting pre-approved for a first time home buyer mortgage. This is understandable but is a mistake. A mortgage pre-approval is necessary for two reasons. First,… Read More »
The terms “affordability” and “ultra-luxury housing market” may not immediately seem like they go together, but the truth is that as the U.S. housing market continues its recovery and median sales prices keep trending upward, more and more cities and towns across the country, even some not necessarily considered elite enclaves, will likely see their… Read More »
More and more renters are considering home-ownership. Banks and mortgage lending companies have announced new finance options for first time home buyers. In many instances, the guidelines have been loosened and the credit rules have been eased. This year appears to be a great year for consumers to stop renting and make the plunge to… Read More »
For recent graduates, young professionals or folks considering a career change, affordability of housing often becomes the deciding factor in where they choose to look for a job. Of course, we all want to make the highest possible salary, but a souped-up paycheck in a city with sky-high rent won’t do you much good since… Read More »
Since the end of the great recession, home prices in America have rebounded substantially. Since the dark days of 2009, prices have steadily climbed and are up over 50% on average from the lowest point. This is great news for homeowners whose homes may be worth more than their pre-recession values, but less great news… Read More »
Working well with your mortgage loan officer is critical to your home ownership dreams. He or she is the one that can make your mortgage a reality or deny the application outright. So, it is essential to have good communication with your loan officer from the start and before you sign mortgage disclosures. But many… Read More »
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