Exploring 20-Year Mortgage Options
Nearly 78% of all home mortgages created last year were for a 30-year term, according to the Urban Institute. But have you ever considered a 20-year term? A shorter term will save tons in interest payments, and you will build equity faster and be mortgage free sooner, even though you will pay a bit more monthly. New proposed legislation could help first-time homebuyers reduce the cost of a 20-year mortgage or provide down payment help.
Here’s what you need to know if you’re considering a 20-year mortgage:
Can you buy a home with bad credit?
Tips to obtain or fix your credit to buy a home It used to be that only people with the best credit would qualify on their own to buy a home. Today, there are plenty of options for people with less than desirable credit scores, below 700. If poor credit or a low score has … Continued
Mortgage Rates Forecast for 2020
What Will Mortgage Rates Do in 2020? We don’t have a crystal ball, but there are data sources that help predict what mortgage rates will do in the near future. In review, 2019 was an outstanding year for mortgage rates, and mortgage shoppers can expect to still find great value going into 2020. If you … Continued
Creative Ways to Save for a Down Payment
9 tips for developing passive income to help buy a home Dreaming of home ownership or purchasing a different home, but having a hard time saving money from your paycheck every month? People that are more successful with meeting financial goals, like saving for a down payment, invest time into making their money work for … Continued
First Home Purchase? Here’s 10 Great Tips!
Do these things before starting to look for your first home Are you ready to buy your first home? Home shopping is fun and exciting, but it can also be overwhelming. Ideally, everyone wants an affordable home that they love, but there is more to that idea than many people realize. Unfortunately, many first-time buyers … Continued
Our Best Tips for Buying in a Sellers Market
The market is challenging, but we can help Great interest rates mean it’s a favorable time to buy a new home. But if you have started the hunt, you may have already run into a few obstacles. Low inventory means houses do not stay on the market long. If you do put in an offer, … Continued
Buying a House? How’s Your Credit?
The first step in home buying- Check your credit. Before you start looking for a new home, take a look at your credit, and understand where you stand financially. Credit scores are symbols of your ability to repay debts. Mortgage lenders look at this number first when reviewing your credit worthiness. If you are applying … Continued