One of the best things about owning a home is that as you pay down your mortgage, your home builds equity that you can access should you ever need to (as long as you meet the loan requirements). You can access your equity through one of two ways, either through a home equity line of credit or a cash-out refinance. more “Using a Cash-Out Refinance Wisely in the Winter”
Although spring and summer are considered the hottest home buying seasons, there’s something to be said about waiting until winter to get into the hunt. After all, in winter, those families who bought over the summer will be already settled into their new homes and many of those who didn’t buy will put their home buying dreams on hold until the spring thaw.
This means in winter, there’s far less competition and that can sometimes translate into sellers being more willing to negotiate. more “6 Tips for First Time Homebuyers Getting a Mortgage in Winter 2023-24”
As we close in on the start of the fourth quarter of 2023, it would be an understatement to say that the housing market has been a bit of a disappointment once again this year. Not helping things is the fact that the Fed recently raised interest rates to over 7%, putting it a far cry away from the hopeful 5% that most industry analysts were predicting at this time last year.
The recent rate hike not only affects the hopes and dreams of new buyers, but it also puts a lot of added strain on those who haven’t yet made the decision to either sell their homes or refinance their mortgages. With such uncertainty looming, what’s the best bet for 2023 – should you sell or refinance? more “What’s the Best Bet for 2023: Selling My Home or Refinancing My Mortgage?”
Despite current interest rates not being as low as everyone might like, refinancing is still on the table for a good number of homeowners, but especially for those who are thinking about doing a cash-out refinance for home improvement purposes.
Refinancing to pay for certain home improvements or renovations can make sense even when interest rates are slightly higher than what you wish because the completed projects can increase your home’s market value, which will in turn potentially increase your equity to the point that you can remove private mortgage insurance from your monthly payment. This will help offset the increase in your payment amount caused by the higher interest rate. more “Five Common Mistakes to Avoid When Doing a Cash-Out Refinance on Your Home”
Buying a first home is one of life’s most exciting events. But it doesn’t come without its fair share of worry. After all, we want to ensure that the home we’re buying is not only a good fit for our families and lifestyle, but also our budget. The problem is, far too many first-time buyers get sucked into the excitement of shopping for homes and end up buying more home than they realistically need (and can afford). more “How Much Should You Spend on Buying Your First Home, and Why?”
If you are thinking about refinancing your home mortgage in 2023, then traditionally speaking, the best time to do so would be during the last two weeks of the last month in each quarter. So, this means the last two weeks in September and December, since March and June have both already passed. more “The Best Time to Refinance Your Home Mortgage in 2023 (And How to Do It)”
Homeowners choose to refinance their home mortgages for a wide range of reasons, some more logical than others. But for those who choose to refinance for the right reasons, there can be some very clear and distinct advantages of doing so.
If the interest rate has dropped to a point where you are considering refinancing your home loan, then here are six clear benefits that can come from making this decision. more “6 Clear Benefits of Refinancing Your Home Mortgage”
If you’re of a certain age, then you have probably heard (or even used) the famous quote from the film, Ferris Bueller’s Day Off – “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.”
And if you’re a homeowner, then you probably know all too well how fast life really moves. In fact, life moves so fast that some homeowners think about refinancing their mortgages not long after they’ve closed on their homes! more “How Long Should Homeowners Wait Before Refinancing a New Mortgage?”
The crazy fluctuations of the real estate market over the last few years has made it tough for a homeowner to know when to pull the trigger on refinancing their mortgage. After a lengthy span of record low interest rates, today’s rates are up and hovering around 7% for a 30-year fixed rate mortgage loan.
With such volatility in recent years, the current interest rate is still high enough to keep a lot of refinance prospects sitting idle on the sidelines. And even for those who might be in the position to refinance, other questions come into play, like – is summer the best time to refinance a mortgage or should I wait? more “Is Summer the Best Time to Refinance a Mortgage?”
Interest rates haven’t exactly been kind to home buyers and homeowners interested in refinancing their mortgages over the last few years, but they are slowly moving back in the right direction. As a result, those homeowners looking to refinance their home loans are finding themselves once again back at considering their options.
But if you’re like most homeowners, you might be wondering – at what point is it worth it to refinance my mortgage? more “At What Point Is It Worth It to Refinance My Mortgage?”
