Steps in refinancing your home
If your financial position has changed or the value of your home has gone up since you purchased it, you may be considering changing the terms of your home loan. If you want to get more favorable terms, lower your…
When to Consider a Second Mortgage (And When to Avoid It)
Over half of American homeowners financed their home purchase and have a mortgage. Banks and lenders like this arrangement because they earn money in the form of interest payments when they loan money to buyers. Buyers like it because they…
How To Buy a Home Out of State
The home search process can be very fun or very exhausting (or both). Some buyers love the search and enjoy looking at home after home until they find just the right one. Others get tired of coming up empty after…
What You Will Pay When You Offer to Purchase a Home
Buying a home is one of the largest purchases that most Americans make in their lifetime. With so much money in play, it’s important to know when it is refundable (and when it is not) during the negotiation process. Earnest…
How Long Does It Take to Close on a House?
Home buying is very exciting but typically doesn’t move quickly. The length of time it can take to finalize the purchase, also called closing, varies with the complexity of the deal and circumstances of the purchase. Most homeowners can prepare…
When to Refinance Your Home
When you purchase a home with a mortgage, part of the terms of your loan include an interest rate. This rate is the percentage of the loan value that you will be charged in interest, should you take the entire…
Common Terms Used When Financing a Home
If you are in the process of buying a home, you are probably looking to get a loan for your purchase. A loan for the purchase of a home is called a mortgage. Here are some other common terms that…
Adjustable Rate Mortgages – Pros and Cons
Shopping for a new home can be a lot of fun. You get to explore neighborhoods, different styles of home, and (hopefully) find just the right place for you. Shopping for a mortgage is less glamorous, but still a very…
Credit Matters When Purchasing a Home
When you start your house hunting process, you probably have a list of features that your dream home will have—an open floor plan, gourmet kitchen, a great backyard. Lenders have a list of ideal features that a mortgagee will have…
Understanding Your Amortization Schedule
Congratulations, you bought a house! Before you’re able to unpack the last box, your mortgage company has probably been in touch about making that first monthly payment. Welcome to homeownership! If you are itching to get that loan paid off…
