Have a Massive Mortgage? Here Are Some Tips for Refinancing

Mortgages

Have a Massive Mortgage? Here Are Some Tips for Refinancing

Have a Massive Mortgage? Here Are Some Tips for Refinancing

If you’re looking to refinance your home and pull out funds for home improvement, there’s good news. Lending guidelines were recently loosened on cash-out refinance transactions. Here’s what you should know if your loan size exceeds $417,000. First off, it’s going to cost more. Here’s why: When a mortgage loan exceeds this threshold, it moves... Read More

Is an Adjustable-Rate Mortgage Right for Me?

Mortgages

Is an Adjustable-Rate Mortgage Right for Me?

Is an Adjustable-Rate Mortgage Right for Me?

Adjustable-rate mortgages, where the interest rate is subject to change according to market fluctuations and terms, may make certain borrowers wary, particularly following the Great Recession. But there are times when this mortgage type may be right for you. Here are some things to consider if you’re looking for a short-term home loan and are... Read More

Is Buying a Fixer-Upper Worth It?

Mortgages

Is Buying a Fixer-Upper Worth It?

Is Buying a Fixer-Upper Worth It?

These days, true fixer-uppers are few and far between. A more exuberant housing market has severely depleted the post-recession inventory of foreclosures and distressed homes. Still, there’s a chance you’ll stumble upon a property whose appearance is not quite as dreamy as its price tag. Here are some things to consider if the affordable home... Read More

Do You Understand Your Mortgage’s Fine Print?

Mortgages

Do You Understand Your Mortgage’s Fine Print?

Do You Understand Your Mortgage’s Fine Print?

When shopping for a mortgage, it’s critical to have a general understanding of how points affect your mortgage rate and payments, and ultimately connect to your bottom line. Below are some guides to help you identify your net tangible benefit on a home loan. Points When you pay points, you are paying a premium to... Read More

Is Your Car Lease Keeping You From Buying a Home?

Mortgages

Is Your Car Lease Keeping You From Buying a Home?

Is Your Car Lease Keeping You From Buying a Home?

Getting a mortgage can be difficult. Sometimes, to increase the odds of being approved or to qualify for a larger loan, prospective borrowers will pay down debts or eliminate existing loan obligations. Often, the process for doing so is simple, but there’s one type of financing that could trip up your efforts: a car lease. Here’s... Read More

Can I Get a Loan for a Mobile Home?

Mortgages

Can I Get a Loan for a Mobile Home?

Can I Get a Loan for a Mobile Home?

Trying to get a loan for a mobile home? You may be surprised to learn there are financing options available for non-single-family residence houses. Here’s what you need to know. The Different Types of Mobile Homes Your property type holds all the cards when it comes to whether or not you’ll be able to obtain... Read More

How Often Can I Refinance My Mortgage?

Mortgages

How Often Can I Refinance My Mortgage?

How Often Can I Refinance My Mortgage?

Though it may come as a surprise, there is no limitation to how frequently you can refinance your home. You can refinance as often and freely as you like so long as it financially makes sense to do so. Here are some things to consider before you move to refinance your mortgage. 1. What Are... Read More

Show Me More by Scott Sheldon

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