Buying a home is one of the largest investments you will make in your life, and that's why so many people have longer mortgage amortization periods to pay down the principal. While it may seem appealing to have a longer amortization period, here's why an extended loan term can end up costing you more and may be less financially beneficial when it comes right down to it. About Mortgage Amortization Generally speaking, a 25-year mortgage amortization period can be typical, but there are many loan … [Read more...]
What Does Contingent Mean on a House Sale
In the context of a house sale, "contingent" typically means that the sale of the house is dependent on certain conditions being met. These conditions could include things like the buyer securing financing, the completion of a home inspection, or the sale of the buyer's current home. For example, if a buyer makes an offer on a house and the offer is accepted by the seller, the sale may be contingent on the buyer obtaining financing within a specified period of time. If the buyer is unable to … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 25, 2023
Last week’s economic reports included readings on U.S. housing markets, housing starts and building permits, and the scheduled post-meeting statement from the Federal Open Market Committee of the Federal Reserve. Data on sales of previously owned homes were released along with weekly reports on mortgage rates and jobless claims. National Association of Home Builders: Rising Mortgage Rates Shake Builder Confidence Homebuilders lost confidence in U.S. housing market conditions in September. … [Read more...]
5 Things To Know About Severe Weather And Homeowners Insurance
The average homeowner feels secure knowing they have insurance in the event of a severe weather calamity. Most people believe that no matter what happens, they have paid for protection against disaster. Unfortunately, not every homeowners insurance policy provides full reimbursement from severe weather losses. Hurricanes, tornados, earthquakes and other rare catastrophes may not be covered under your current policy. Consider the impact of these extreme events and whether you are fully insured … [Read more...]
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