When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage. In some cases, an adjustable rate mortgage (ARM) may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it's important to understand both the pros and cons. When To Consider Adjustable Rate Mortgages … [Read more...]
Should You Pay Discount Points When You Get Your Mortgage?
One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy "discount points" to lower your interest rate. There are pros and cons to doing both and each borrowers situation will be different so it's important to understand which option is best for your individual situation. Some factors you should consider include: Cost of borrowing - generally … [Read more...]
Look Beyond The Interest Rate: What Else Matters When Choosing A Mortgage Lender?
Most consumers securing a mortgage plan to remain in that loan for 30 years. During that time, the borrower maintains a relationship with the loan servicer or lender. Most often, home buyers do not think twice about who the mortgage lender is, but rather focus on the interest rates offered. Look beyond this information. Borrowers need to take into consideration much more before they sign on the dotted line. Here's what to look for specifically: Choosing a Specialized Lender Can Help Home buyers … [Read more...]
How The 2018 Tax Changes Can Affect Your Mortgage
When the chatter was at its peak on the 2018 tax law changes being proposed, one of the big areas of concern for homeowners was the elimination of the mortgage interest deduction. Right behind that issue was a similar treatment with regards to property tax deductions. As the rumors swirled and Congress moved, many feared both deductions had finally met their day and were going to be entirely eliminated, resulting in a major financial hit that many homeowners and particularly those in high real … [Read more...]
- 1
- 2
- 3
- …
- 6
- Next Page »
