Refinancing – When is the Right Time?

Rates are low and there’s a mini refinance frenzy happening. A large portion of home owners are doing it, but should they? It’s difficult for most people to really know if refinancing is in their best financial interest. The standard rule used by previous generations was, if the interest rate dropped by at least 1% then it made sense to refinance. It would do you good to throw that rule right out of the window! There are points and fees that can be built into the loan to reduce the rate, making it appear that you are truly reducing the cost of your mortgage. Buyer beware! Often times, while the interest rate is lower, you could be paying high fees to get it. You can improve your chances of making a sound financial decision by understanding the basic concept of break even and how to calculate it.

What You Need To Know About Private Mortgage Insurance (PMI)

Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

Why Is So Much Paperwork Required To Get A Mortgage?

When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

National Homeownership Month

 Homeownership is an essential part of the American Dream! This month, we celebrate National Home Ownership Month and those whose success and determination have helped make them homeowners. June also brings hope and excitement to those who are pursuing home ownership. It’s common knowledge that the benefits of owning a home go way beyond building wealth. Home ownership gives people a place to build their life memories, a place to raise families, a place to celebrate with those we care about, and a place of our own that gives us stability and a sense of pride within our communities. Home ownership changes lives and enhances futures.