Do you want to combine your first and second mortgage into one? Here’s 4 smart some money savings tips to be aware of when you submit a loan application. When you apply to refinance your home with the intent of financing more money beyond the balance of your first mortgage, your total loan amount could…
If you have been on the fence about buying a home or refinancing the one you already own, the 2016 FHA loan limit increases may financially benefit you. Here’s how… The Federal Housing Administration continues their mission in helping consumers realize the dream of homeownership. In today’s mortgage lending environment there’s three buckets of loan…
On November 25, 2015, the Federal Housing Finance Agency announced the 2016 new loan limits. Most notably, four counties in California have increased as well as various others throughout the country. Here’s what you need to know regarding the changes… Know Your Loan Category When you apply for a mortgage to buy a home or…
If you’re thinking about qualifying for a mortgage, here’s what you must know if you have payments with a few months left to go. Get the facts… When you apply for a mortgage loan, the lender takes in the consideration your credit score, your cash you plan to use to spend on a home, your…
Ever wonder the best way to gain more control of your debt? A low rate and payment helps, but discipline and smart income choices play an important role as well… Income is a crucial component lenders look at when granting you a mortgage loan. It is the basis by which they are going to get…
If you’re serious about reducing your interest expense associated with your mortgage, refinancing is a guaranteed bet to reduce your payment, reduce your cost of funds and pay off your home faster. Haven’t refinanced yet? Know your options… Rate Reduction This is number reason most consumers elect to refinance. The biggest driver of payment reduction…
If not handled properly, your student loan may adversely change your home purchase plans. Here’s what you probably don’t know regarding your student loan servicer… Just like any other credit obligation, your student loan servicer reports to the credit bureaus. Even if the payment is deferred, the obligation still reports every 30 days much like…
Mortgage interest is a double edge sword, on one hand it’s a tax-deductible expense, but by and large it is the heaviest cost of homeownership. What to pay attention to if you have not done a mortgage in a few years or bought a home before. Interest Works The Opposite Of Rent The amount of…