Blog
Waiting Will Cost More
Post Date: 03-06-2022
Mortgage rates have been kept artificially low by the Federal Reserve since the Great Recession in 2010. There is a whole generation of people who have never known what might be called normal mortgage rates. And then, most of the rest of the adults in America have forgotten what average rates were in the 60's, 70's, and especially, in the 80's when they hit 18.45%. ...CONTINUE READING
Some Should Consider an ARM
Post Date: 02-23-2022
Adjustable-rate mortgages are not the right choice for many homeowners especially, if they plan to own the home for a long time. Less than 3% of buyers choose an adjustable-rate mortgage according to NAR's 2021 Profile of Home Buyers and Sellers. With fixed-rate mortgages hovering in the mid 4.00% range, it's understandable that people select a rate that will not change over the term.
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Why a Home Should Be Your First Investment
Post Date: 02-09-2022
Real estate has been described as the basis of all wealth. Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth.
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Paying Points to Lower the Rate
Post Date: 02-02-2022
Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. ...CONTINUE READING
I wish I knew then...
Post Date: 01-26-2022
We have all heard this expression that implies that had a person known earlier in life what they know now, they would have done things differently. The subject possibilities are endless While no one has a crystal ball to see into the future, it may be possible to learn from people who have experienced similar situations. ...CONTINUE READING
Your Home is a Hedge Against Inflation
Post Date: 01-19-2022
The concern about inflation is the sustained upward movement in the overall price of goods and services while the purchasing value of money decreases. Tangible assets like your home consistently become more valuable over time. In inflationary periods, your home is a good investment and a hedge against inflation. ...CONTINUE READING
Why is the APR higher than the interest rate?
Post Date: 01-12-2022
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
Post Date: 01-05-2022
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?
Post Date: 12-29-2021
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
Post Date: 12-22-2021
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