Blog

Why is the APR higher than the interest rate?

Why is the APR higher than the interest rate?


Annual percentage rate is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. ...CONTINUE READING
There's more to it than you might think

There's more to it than you might think


There is more to selling a home than you might think. Superficially, a person might think that it will sell itself currently because, nationally, homes for sale receive 3.6 offers and they sell within 18 days. ...CONTINUE READING
Will Soft Inquiries Hurt Your Credit Score?

Will Soft Inquiries Hurt Your Credit Score?


Soft inquiries, sometimes known as a soft credit check or a soft credit pull, do not impact your credit scores because they are not attached to a specific application for credit. They can occur when a credit card issuer or mortgage lender checks a person's credit for preapproval purposes. ...CONTINUE READING
Paying Down Your Mortgage

Paying Down Your Mortgage


When the situation arises that you have a lump sum of cash to pay down your existing mortgage, there may be different options available. Pre-paying principal on a fixed-rate mortgage shortens the term of the mortgage but the payment stays the same. ...CONTINUE READING
Credit Utilization Affects Your Score

Credit Utilization Affects Your Score


Credit utilization reflects how much of your available credit is being used at a given time. Lower credit utilization indicates that a borrower is not heavily relying on their credit and that they are using their credit responsibly. ...CONTINUE READING
Larger Payment, Shorter Term, Bigger Savings

Larger Payment, Shorter Term, Bigger Savings


Some people consider a house payment as basic as monthly utilities but with a plan and some discipline, you can be mortgage free. ...CONTINUE READING
Have you checked these lately?

Have you checked these lately?


Homeowners know the need to periodically check certain things around the home to ensure that things operate properly and efficiently. If maintenance is required, it may be less expensive to take care of it early rather than waiting until it is not working at all. ...CONTINUE READING
Uncle IRRRL wants to refinance your VA loan

Uncle IRRRL wants to refinance your VA loan


You don't have to have an Uncle IRRRL but you must be a veteran with a current VA-backed home loan. IRRRL is an acronym for Interest Rate Reduction Refinance Loan. To refinance with this program, also called the VA Streamline, the loan must provide a net tangible benefit (NTB) which would be in the financial interest of the Veteran.  ...CONTINUE READING
Buy Before You Sell Options

Buy Before You Sell Options


The decision to buy first or sell first, has always been a little of the "Which came first: the chicken or the egg?" type of question. Is it better to buy another home before you sell your current one or sell the current one before you buy the replacement? ...CONTINUE READING
Removing or Adding a Person to a Loan

Removing or Adding a Person to a Loan


In divorce situations, it is common, for the spouse who keeps the home to refinance to remove the other spouse from the loan. Equally as common, first-time buyers who don't have enough income to qualify may ask a parent to co-sign and must add their name to the mortgage. ...CONTINUE READING

Pages