Many people are wondering what type of home loan is right for them, and one of the options is an ARM loan. This is an adjustable-rate mortgage. Typically, the rate is fixed for a certain amount of time, but it can change after that. Adjustable-rate mortgages will vary depending on the market. Is an ARM a smart loan option? There are some situations where an ARM loan can be helpful, but people need to be careful with them. The Risk Of An ARM Loan First, it is important to understand why ARM … [Read more...]
The Younger Generations Are Interested In Owning A Home
The real estate market has been red hot this year, with many people looking to purchase a home because of record-low interest rates. This includes younger individuals, as younger generations are interested in owning a house for the first time. The past couple of years have been anything except normal, and the housing market has taken off, with demand far exceeding supply. Why is this taking place? Record Low-Interest Rates Are Driving People Into the Market Even though there are many reasons why … [Read more...]
Many Millennials Need More Space
There are many Millennials who are looking for a home, and many of them are getting ready to trade up for more space. If you think you need more space, you may have more buying power than you realize. The coronavirus pandemic has led to a lot of changes, and you might be able to use the equity in your home to purchase a bigger house with more features. Why Millennials Are Looking For Bigger Homes There are a few reasons why many Millennials are looking for bigger homes. First, the coronavirus … [Read more...]
Refinancing: Check Your Financials First
Although interest rates continue to rise, they are still low and you have probably heard that refinancing could help you save money on your home loan. Even though you are probably focused on current mortgage interest rates, feverishly comparing them to your own interest rate, you need to check your financials first. What are a few important indicators of your financial health that you need to check before you go through the refinancing process? Check Your Credit Report During the refinancing … [Read more...]
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