Many homeowners are struggling to keep up with their mortgage payments on a monthly basis, and it can often seem like there are limited options for remedying the situation. If you haven’t heard of HARP refinancing and you’re a homeowner who’s looking for a lower interest rate, this may be the right solution to your payment woes. Instead of letting the opportunity blow by, here’s all you need to know before this option ends in 2016. Continue reading
Getting the best mortgage financing for your new home can sometimes be a complicated process and, unfortunately, things can go wrong. Using a licensed and trusted mortgage loan specialist can help alleviate many of these challenges.
There are certain mistakes that many homebuyers make when applying for their mortgages that can seriously damage their chances of being approved. If you are aware of the most common mortgage issues, you will be better able to prevent them when applying for your own mortgage.
Make sure that you keep the following tips in mind when applying for a mortgage: Continue reading
What if you could accelerate the mortgage payment on your home so that you own your property several years earlier than your 15 or 30 year term?
Making your final mortgage payment and owning your house is an incredibly good feeling and there is a simple way that you can bring about that rewarding day much sooner.
By making one extra mortgage payment every year, you will be able to pay off your mortgage years earlier without putting a lot of stress on your present day finances. Although it might not seem like a lot, just one extra payment per year can help you to significantly reduce the length of your mortgage.
For example, if you have a 30 year mortgage with a fixed rate, it could be possible to pay off your loan in 25 years instead of 30 when you make an extra payment per year. You will also very likely be able to save thousands of dollars over the years in interest charges. Continue reading
Imagine that you’ve found the perfect home and are ready to apply for financing. Your home loan approval amount comes back lower than you would have expected and at an interest rate significantly above what you have heard is available on the market.
This could be because you have an average to poor credit score. Continue reading