Buying a Home? Be Ready for These Closing Costs

Mortgages

Buying a Home? Be Ready for These Closing Costs

Buying a Home? Be Ready for These Closing Costs

For most of us, there’s no bigger purchase than buying a home. And with big purchases, even minor fees can carry a big price tag. Before signing the paperwork and taking on a mortgage, it’s a good idea to get educated about the process. Many people either don’t know or forget to factor in the… Read More

4 Reasons You Could Be Denied a Mortgage

Mortgages

4 Reasons You Could Be Denied a Mortgage

4 Reasons You Could Be Denied a Mortgage

So, you’ve thought about whether renting or buying your next home is the right decision for you. If you decide to buy a home, you’ll likely have to prepare for financing your purchase with mortgage payments. Here’s where things can get a bit tricky. While getting a hold of the costs involved with home buying can… Read More

The Tax Deduction That Could Kill Your Homebuying Chances

Mortgages

The Tax Deduction That Could Kill Your Homebuying Chances

The Tax Deduction That Could Kill Your Homebuying Chances

If you’re planning on getting a mortgage, you may want to rethink taking any extra deductions to minimize your tax liability this year. Writing off expenses you incur as a W-2 employee can have lasting negative repercussions on your real income, an anchor component of how lenders determine your creditworthiness. Job-Related Deductions You bring a mortgage company your W-2s and… Read More

Could Paying Off Your Mortgage Hurt Your Credit?

Credit Score

Could Paying Off Your Mortgage Hurt Your Credit?

Could Paying Off Your Mortgage Hurt Your Credit?

For many people, paying off their mortgage is the ultimate financial accomplishment. While “mortgage burning celebrations” may not be common now that everything is handled digitally, most do feel proud of a home that is paid for in full. Imagine, then, the disappointment to learn that your credit scores have gone down, not up, as… Read More

Nearly Half of Homebuyers Don’t Shop for a Mortgage

Mortgages

Nearly Half of Homebuyers Don’t Shop for a Mortgage

Nearly Half of Homebuyers Don’t Shop for a Mortgage

About half of consumers who took out a mortgage to buy a home in 2013 didn’t shop around for their loans, and even fewer consumers apply for a mortgage through more than one lender, the Consumer Financial Protection Bureau announced in a report released Tuesday. That means these homebuyers aren’t comparing lenders’ offers in search of… Read More

Mortgage Rates Hit 19-Month Low

Mortgages

Mortgage Rates Hit 19-Month Low

Mortgage Rates Hit 19-Month Low

The 30-year fixed-rate mortgage hit a 19-month low this week at 3.58%, according to the Zillow Mortgage Rate Ticker. That’s down from 3.72% the week prior and 4.35% on Jan. 6, 2014. Most potential homebuyers get excited about news like this. They should: The lower the interest rate your mortgage carries, the more manageable your monthly… Read More

3 Reasons It’s Not a Seller’s Housing Market

Mortgages

3 Reasons It’s Not a Seller’s Housing Market

3 Reasons It’s Not a Seller’s Housing Market

If you’re considering purchasing a home, but worried that rising home prices mean you’ll pay too much for a house, think again. Just because home prices have risen doesn’t mean it’s a seller’s market out there. Here’s why. 1. Home Prices Aren’t Necessarily Inflated Home prices have gone up, but have they done so unreasonably?… Read More

5 Rules for Refinancing

Mortgages

5 Rules for Refinancing

5 Rules for Refinancing

Mortgage rates are now at the lowest level we’ve seen in the past year and a half. If you can save money by refinancing your mortgage and have been putting it off, you owe it yourself to explore your options. First, here are five considerations to help you weigh whether a refinance is worth it…. Read More

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