Adjustable Rate Mortgage vs. Fixed Rate Mortgage which is better?

Adjustable Rate Mortgage vs. Fixed Rate Mortgage which is better?

There are so many loan products available for different financial situations. Sometimes it is hard to figure out which one is right for you. Adjustable rate mortgages and fixed rate mortgages are two common types of mortgage loans. Both have their pros and cons and your particular personal and financial situation could determine which one is right for you. Adjustable Rate Mortgages An adjustable rate…

Fixer-uppers cost less but are they worth it?

Fixer-uppers cost less but are they worth it?

With all the renovation and fix-it and flip-it shows on HGTV, you might begin to wonder if people actually buy fixer-uppers to live in nowadays. Yes, they do and picking the right one could bring a sense of satisfaction for years to come. But how do you know if you have a good fixer-upper or if you should pass? The biggest attraction to fixer-uppers is…

How will the new Fed rate hike affect your home refinance?

How will the new Fed rate hike affect your home refinance?

As a homeowner, talks of the Federal Reserve raising interest rates can cause uncertainty. If rates go too high it could impact one’s ability to pay their mortgage. The Federal Reserve’s increase in interest rates does not only affect mortgage rates, it also influences student loans, credit cards and car loans.  For those living on a limited budget, this could have a major impact. Homeowners…

How to prepare your home for sale

How to prepare your home for sale

You’ve decided to sell your home. Regardless of the reason for selling your home, what can you do to prepare your home for sale to help ensure you get the best offer possible? It may take a little prep work but there are things that you can do to help. When home buyers come to view your home they are likely to look at everything.…

Conforming vs. Non-conforming loans. What is the difference?

Conforming vs. Non-conforming loans. What is the difference?

When it comes to mortgage loan terminology some first time home buyers may benefit from an introduction to terms they have never heard before. At times, this can feel a little overwhelming, especially when trying to decide which mortgage loan option is right for you. Conforming and non-conforming loans are two of those terms. The words themselves just hint at what the loan type could…

Are condos a better option for first time home buyers?

Are condos a better option for first time home buyers?

With home prices on the rise, saving for a 20 percent down payment on a conventional loan may seem daunting for many first time home buyers.  Even down payments for an FHA loan for as low as low as 3.5 percent can seem out of reach when you are trying to purchase a single family home at today’s prices.  Consider however that there are many…

How to buy a house in a seller’s market

How to buy a house in a seller’s market

What is a seller’s market and what does that mean for a home buyer? You may have heard the news that now may be a great time to sell a house. In a seller’s market the housing inventory is low. This means less competition for homeowners to sell their home and more opportunities for multiple offers to be received. Homes are often sold quicker and…

Should you keep your Adjustable Rate Mortgage?

Should you keep your Adjustable Rate Mortgage?

Chances are you weighed the pros and cons of an adjustable rate mortgage when you first purchased your home. If you decided to obtain an adjustable rate mortgage and your initial rate period is about to end, you may want to decide whether or not to refinance into a fixed-rate mortgage or continue with your current mortgage. Not all adjustable rate mortgages (ARMs) are the…

When a cash-out refinance makes sense

When a cash-out refinance makes sense

With all the fluctuation occurring with mortgage rates over the last few months you may find yourself thinking should I refinance now and can I still get a low rate? While no one is certain yet on the next rate hike, we do know one thing. Mortgage rates are still lower now than they were several years ago.  It is still a good time to…