Refinance

How Many Homes Should I Look at Before I Buy? One Could Be Enough But More Is Definitely Better

These days, prospective home buyers are spending a lot more time looking at homes virtually rather than in person. This was a trend before COVID-19 reared its ugly head, and one that has only been exacerbated by the pandemic. Ultimately, much of the home buying process can be conducted online, just like anything else these… Read More »How Many Homes Should I Look at Before I Buy? One Could Be Enough But More Is Definitely Better

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What Is Prepaid Interest? Here’s Why You Need to Pay the Mortgage Lender Ahead of Time

As the name implies, “prepaid interest” is money you owe to a bank or mortgage lender that is paid in advance of when it is actually due. In terms of why it needs to be paid before the due date, there are several reasons, though it mostly boils down to the fact that mortgages are… Read More »What Is Prepaid Interest? Here’s Why You Need to Pay the Mortgage Lender Ahead of Time

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FHA vs. Conventional Loan: These Charts Can Help You Determine Which Is Cheaper

It’s time for another edition of mortgage match-ups: “FHA vs. conventional loan.” Our latest bout pits FHA loans against conventional loans, both of which are extremely popular loan options for home buyers these days. In short, conventional loans are non-government mortgages, typically backed by Fannie Mae or Freddie Mac. Whereas FHA loans are government-backed mortgages… Read More »FHA vs. Conventional Loan: These Charts Can Help You Determine Which Is Cheaper

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FHA-to-Conventional Refinance: How to Drop Mortgage Insurance Once and For All

While refinance applications seem to be slowing, there are still some good reasons to refinance your mortgage, even if interest rates aren’t currently at their best. First off, let me preface this with the fact that mortgage rates are spectacular. Yes, the 30-year fixed used to be in the mid-2% range, but a rate of… Read More »FHA-to-Conventional Refinance: How to Drop Mortgage Insurance Once and For All

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Mortgage Rates vs. Omicron

Last week, the World Health Organization (WHO) designated Omicron, formally known as B.1.1.529, a variant of concern. This news rocked financial markets nationwide amid concerns of another series of lockdowns, travel restrictions, and so on. In short, there’s renewed fear that we’re not out of the woods on COVID, as some seemed to think prior… Read More »Mortgage Rates vs. Omicron

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2022 Home Selling Tips to Get Top Dollar: Don’t Take the Red Hot Real Estate Market for Granted

While the recent stock market boom, coupled with near-record low mortgage rates will undoubtedly make prospective home buyers feel richer, lofty asking prices may have the complete opposite effect. Regardless of what happens to the economy this year, chances are that those who are planning to buy a home will, assuming they can find one… Read More »2022 Home Selling Tips to Get Top Dollar: Don’t Take the Red Hot Real Estate Market for Granted

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Mortgage Rates vs. Home Prices: Is There Really an Inverse Relationship Between Them?

Mortgage Q&A: “Mortgage rates vs. home prices.” Today, we’ll take a look at the impact of both home prices and mortgage rates on your decision to buy a piece of property, along with the relationship they share. Obviously, both are very important not only in terms of whether you should buy (from an investment standpoint),… Read More »Mortgage Rates vs. Home Prices: Is There Really an Inverse Relationship Between Them?

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Does Having A Mortgage Help Your Credit Score? Your Mileage May Vary, Here’s Why

Mortgage Q&A: “Does Having A Mortgage Help Your Credit Score?” If you’ve ever pulled your credit report and/or viewed your scores, you may have noticed that the lack of a mortgage could actually be holding you back from credit score perfection. Even if you already have a seemingly great credit score, the credit report “notes”… Read More »Does Having A Mortgage Help Your Credit Score? Your Mileage May Vary, Here’s Why

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Why Are Mortgages Cheaper Than Rent?

Mortgage Q&A: “Why are mortgages cheaper than rent?” Today we’ll discuss why mortgages often appear to be less expensive than a monthly rent payment, despite allowing you to build precious home equity. For example, you might be shopping mortgage rates and see a sample loan amount of $240,000, along with a hypothetical interest rate. Let’s… Read More »Why Are Mortgages Cheaper Than Rent?

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