Mortgage

Buying a home is a major investment that requires strong financials. If you have a large amount of student loan debt, you may find it challenging to purchase a home for many reasons. From saving for a down payment, to qualifying for a loan, to affording monthly mortgage payments, student loan debt can play a significant role in your ability to buy a home. Debt-to-Income Ratio One factor that plays a...

If you're brand new to the wonderful world of home loans, you might be a bit overwhelmed by how many different types of financing options are really out there. Both primary loan types (fixed-rate and adjustable-rate) have many variations, so how do you know which one is best for you? Let’s start with Fixed-Rate Mortgages. The most popular loan in today's marketplace is the 30-year fixed. This is a...

Deciding whether or not to refinance an existing mortgage typically means running some numbers. You can do this on your own, but it’s helpful to get the professional assistance of a loan officer. It mostly boils down to how much you’ll save each month, but there are other considerations. First, the change in rate isn’t everything. Old school rules say that it’s a good idea to refinance if...

Refinancing a mortgage is about to get more expensive — potentially reshaping the math for millions of borrowers looking for savings amid a historic boom for home loans. On Wednesday night, mortgage purchasers Fannie Mae and Freddie Mac, informed lenders that, starting in about two weeks, they will be adding a 0.5% fee when buying refinance mortgages. Known as an Adverse Market Refinance Fee, the...

A credit score significantly determines the terms of your loans and whether you can afford these loans or not. Credit scores are used in evaluating a range of loans such as personal loans, car loans, and home mortgages, so credit scores are equally important for both renters and homeowners. Your credit score will determine how much you can borrow and the length of your repayment. The higher the credit...