Purchasing a home is a significant milestone, and first-time homebuyer programs make the process easier for many stepping into homeownership. But what if you’ve owned a home before or are currently a homeowner? Can you qualify as a first-time homebuyer again? Surprisingly, the answer is yes. Under certain conditions, you may be eligible for these programs more than once. Here's a closer look at how it works, the eligibility criteria, and how to make the most of these opportunities. Who … [Read more...]
What to Do If Interest Rates Drop After Getting a Mortgage
When securing a mortgage, buyers aim to lock in the best possible interest rate. But what if interest rates fall after you’ve closed on your loan? Are you stuck with your current rate? The good news is that you may have options, whether your loan is brand-new or you’ve been paying it off for a while. Here are three ways to take advantage of lower rates. 1. Explore a Float Down Option Many borrowers choose fixed-rate loans for stability—they protect you from rising rates. … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 27th, 2025
With the holiday of the previous week in addition to an extremely light release week, only the Consumer Sentiment report is weighing in on the lending markets. With both the inflation reports showing inflation cooling off, there is still some optimism about where the Federal Reserve will take things. This optimism is only cooled by the uncertainty the new presidency will bring. Many markets have responded in kind, with lending partners showing a trend of increasing rates and other markets … [Read more...]
How to Refinance Your Mortgage
Refinancing your mortgage can be a strategic financial decision, enabling you to save money, access home equity, or adjust your loan terms to better suit your current financial situation. Here’s a detailed guide to help you understand the process and determine if refinancing is the right move for you. What is Refinancing? Refinancing involves replacing your existing mortgage with a new one, often with the goal of: Securing a lower interest rate. Adjusting the loan term, either … [Read more...]
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