Tag: Mortgage

Posted on 05/22/2022

4 Quick 15-year mortgage types to consider

Mortgages can be a very flustering part of the homebuying process, just based on the sheer volume of available options. Most homebuyers choose the 30-year fixed rate option, as long as they meet the criteria. But what about the 15-year option? What choices are available for homebuyers, first-time and experienced? How do you know which one to pick?...

15 Year Mortgage

Fixed Rate Mortgage

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Posted on 06/27/2021

Mortgages for First-Time Homebuyers: The Basics

Image by Tumisu from Pixabay Financing a new home can seem overwhelming. For first-time homebuyers, the entire concept of obtaining a mortgage might seem especially daunting. There are many different lenders and many different types of mortgages available, so it's difficult to know which ones are best. Here we will go over the common mortgage types available to...

First Home

First Time Buyer

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Posted on 12/13/2020

Financing Your Mortgage through a Credit Union

Image by annca from Pixabay You’ve finally found the perfect home. It’s got the number of bedrooms you wanted, a spacious kitchen, updated bathrooms, and even a beautiful vegetable garden out back. Now comes the tricky part—how to pay for it. Numerous home buyers find financing their mortgages through a credit union to be a good option. According...

Financing

Mortgage

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Posted on 07/26/2020

Conforming Loan Limit Increase and the Jumbo Market

Image by Arek Socha from Pixabay If you bought a house that was over $484,350 prior to 2020, you had to get a jumbo loan, which is a non-conforming loan. The Federal Housing Finance Agency (FHFA) increased the limit on conforming loans to $510,400 in most areas. The FHFA also increased the loan limit to $765,600 in some...

Jumbo Loan

Mortgage

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Posted on 02/23/2020

How to Use Points to Your Benefit

Photo by Precondo via Pixabay Some mortgage companies offer loans with points. In a nutshell, paying points means paying down the interest rate. One point is equal to 1 percent of the mortgage amount. On a $200,000 mortgage, one point is $2,000. The percentage the interest rate lowers depends on the mortgage company and the market. For example,...

Mortgage

PMI

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Posted on 08/18/2019

Is Refinancing A Good Option For You?

Every homeowner knows how difficult it is to maintain a household. There are so many things that could go wrong in one’s life that committing to significant home payments may cause trouble. Those who have been in debt knows that the reality of real estate is that it goes up. The value of your house would increase with...

Refinancing

Mortgage

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Posted on 07/21/2019

Creating a Personal Mortgage Calculator

If the nerd in you comes out as soon as someone starts talking numbers, you might find yourself wondering how hard it is to create a mortgage calculator. Technically called an amortization calculator, the numbers you put into the calculation tell you what your payment each month breaks down to in terms of what goes to the principal...

Loans

Mortgage

+ 1 more