Your mortgage rate is a critical factor in how much you can borrow or spend on your home through the years. Even half of a percentage point can cost tens of thousands of dollars in interest over the life of your loan. The good news? Mortgage rates can fluctuate, even after you first settle on […]
When Is the Right Time to Renew Your Mortgage?
A mortgage is also the largest financial commitment that most homeowners ever make. And since terms of a mortgage are generally only for a few years — frequently three to five — you’ll almost certainly have multiple chances to renew before your home is paid off. But here’s the million-dollar question: When is the right […]
How to Refinance to Consolidate Debt and Save Money
in debt to more than one source — be it credit cards, personal loans or car payments — can feel overwhelming. “High rates, multiple due dates and balances that never seem to go down are all barriers making it difficult to move forward.” That’s what mortgage refinancing is for. When you refinance your home, you […]
Mortgage Renewal vs. Refinancing: What’s the Difference?
If you’re a homeowner, you may be staring down one important question: To renew or refinance your mortgage? Though the two words are often used interchangeably, they mean quite different things — and the term you embrace could greatly affect your finances. In this piece, we’ll dissect the difference between mortgage renewal and refinancing, the […]
Top Reasons Homeowners Choose to Refinance Their Mortgage
For most homeowners, a mortgage is not just something you take out once and forget. Over time, however, circumstances change — whether it’s with interest rates, your finances or long-term goals. That’s where refinancing comes in. Refinancing means you take out a new mortgage to replace your existing loan with a new one — and […]
How to Improve Your Credit Score Before Applying for a Mortgage
When it comes to purchasing a home, your credit score is critical to your ability to get a mortgage. It not only helps decide whether you’ll get approved but also at what interest rate, which might affect the types of loans available to you and even how much you’ll pay over the life of your […]
Should You Buy a Home Now or Wait? A Guide for New Buyers
Determining when to purchase your first home is one of the largest financial decisions that you will ever make. With increasing home prices, variable interest rates and no clear forecast for the market, it’s common to ask the question: “Should I buy now or wait?” The reality is, there isn’t one size that fits all. […]
Hidden Costs of Buying a Home That No One Tells You About
For the vast majority of people, home ownership represents the single biggest purchase they’ll ever make. While you likely know that a down payment and closing costs will be in order, along with any monthly mortgage, there are many other hidden fees that often take first-time buyers by surprise. If you’re unprepared, these expenses can […]
First-Time Homebuyer Checklist: 10 Things to Know Before You Buy
Purchasing your first home is a big deal — but all that excitement can feel daunting if you don’t know the ins and outs of buying a home. From saving for a down payment to navigating mortgage options, there are many moving parts. If the plan is in place, it can be a lot easier […]
What Is a Mortgage Broker and How Do They Help You?
For many of us, purchasing a home will be the single most important investment decision we will ever make. With all the different types of mortgages, interest rates and lenders out there, the options may seem infinite. Enter the mortgage broker. But what is a mortgage broker and how can they help make the path […]