Whether it's to consolidate debt or make funds available for a home renovation, many people consider a second mortgage in order to make it possible to pursue other options. However, like any important financial decision, it's important to be informed about the financial implications before diving in. If you're currently weighing your mortgage options and are considering a second mortgage, here are some things to do before the final decision. Research The Lenders Since a second mortgage means … [Read more...]
Did You Know: Single Women Are Buying Homes Faster Than Single Men — Here’s Why
With low interest rates and uncertainty as to where the real estate market will be in the next six months, many people are opting into ownership and investing in a home. Interestingly, according to the National Association of Realtors, approximately 17 percent of homebuyers in the United States last year were women, which is a much higher percentage than the 7 percent of single men who invested in a home. While the statistics may be interesting enough on their own, here are some of the reasons … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 22, 2017
Last week's economic reports included readings from the National Association of Home Builders, Commerce Department readings on housing starts and building permits and weekly reports on mortgage rates and new jobless claims. NAHB Housing Market Index Rises, Exceeds Expectations Builder Sentiment rose two points in May, which exceeded expectations of no change to April's reading of 68. Builders and analysts said that short inventories of available homes continue to drive demand for new homes. … [Read more...]
The 10-year Mortgage: Why a Shorter Amortization Period Can Be Your Best Option
From 'down payment' to 'adjustable rate' to 'debt-to-income' ratio, there are so many terms involved in the mortgage process that it can be hard to learn them all and keep them straight. However, whether or not you've heard it, the term 'amortization period' might be one of the most important ones associated with your financial well-being. If you're currently considering the period of loan you should choose, here are some things to think about before taking on a term. What Is Amortization? Used … [Read more...]
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