There have been rumors of 5% – 6% interest rates for over 2 years now– the only difference between then, and now, is that now it’s happening. The new normal for a Conventional home loan above 65% loan to value is going to fall into the 5% interest rate range by the end of […]
By Advantage|2017-04-19T02:32:18+00:00November 17th, 2016|
MIP (Mortgage Insurance Premium) is insurance homeowners pay to FHA to protect the lender against loss on FHA insured loans.
You may be able to eliminate this monthly fee in certain cases. In some areas, values have gone up enough to allow homeowners to refinance and drop this charge. To find out if this applies to you, […]
By Advantage|2017-04-19T02:32:38+00:00October 14th, 2016|
Reducing household spending isn’t the only way to save money on homeownership. You may also be able to significantly cut monthly costs by refinancing your home loan, especially when interest rates are low. A “refi” can offer other advantages, too. But there are also potential downsides. So how do you know if it’s right […]
By Advantage|2016-08-25T22:33:26+00:00August 23rd, 2016|
I ran across a funny article the other day about the two best days each year that give a home buyer the upper hand in buying a house. The two days were Easter and Christmas. They are the days you are least likely to have your offer trumped by another offer. When getting ready […]
By Advantage|2016-06-15T20:52:29+00:00June 15th, 2016|
If you’ve been thinking about a first home or even a move up home, now may be the ideal time to make your move. With interest rates this low, you can power up and benefit from a range of affordable loan programs we offer. The advantages include:
Purchasing more home without increasing the monthly payments […]
By Advantage|2016-06-15T20:53:10+00:00June 15th, 2016|
If one could only raise their hand and say “yes, please” to obtain a mortgage, the dream of homeownership would be simple. But the path to homeownership may be a bit curvier than you expect if you are carrying too much credit card debt or haven’t established credit.
Establishing a credit history isn’t difficult if you focus on a slow but steady plan. Borrowing small amounts and paying them off steadily can prove to the financing institutions that you are reliable. The same goes for paying down credit cards. Credit-building strategies take skills that will serve you well in life, the skills of perseverance and reliability.
By Advantage|2016-05-25T16:51:06+00:00May 23rd, 2016|
If you’ve been thinking about a refinance, now may be the ideal time to make your move. Rates are at a historical low and they may not last. There are many benefits to refinancing your current home loan. Here are just a few:
By Advantage|2016-03-22T22:01:16+00:00February 15th, 2016|
If you dream of owning a home, a place where you can paint, have a media room, raise your kids, celebrate holidays or have a pet, it might be time to learn what you need to do to prepare. If you aren’t sure of exactly what you need to do to obtain a mortgage don’t worry, you are not alone. A recent national Fannie Mae survey revealed that very few people, even those who own homes, know the current minimum home ownership criteria. The least informed group was renters hoping to buy a home within five (5) years. These renters admit they don’t know exactly how much money they will need for a down payment, how high their credit score needs to be to qualify for a mortgage and very few understand the debt to income ratio requirements.