Applying for a mortgage means you have to make many decisions. Among them is the mortgage term. This determines how long you will take to pay your mortgage back. It has a major impact on the amount of your monthly payment; your interest rate, and the amount of interest you pay over the life of the Read more
Who’s Afraid of the Fed Rate Hike, Rising Mortgage Rates?
Last week the Federal Reserve raised its target range for the federal funds rate the first time this year and the second time in a decade. The Fed rate hike itself does not directly affect mortgage rates but it does hold implications to financing and refinancing homes in the near future. Here’s what Read more
Refinance Rates and Fixed Rate Mortgage Options
As of Dec. 8, 2016, mortgage refinance rates slid lower per Bankrate’s survey. This means that rates for 30-, 15- and 10-year fixed rate mortgages are still within the record-low standard. And locking into fixed refinance rates offers two things: lower rates and more stable monthly payments in Read more
Making the Choice Between a 30, 20 and 15-Year Conventional Mortgage
When you apply for a conventional mortgage, it could be second nature to simply ask for the 30-year fixed mortgage, but there are other options. It pays to know the differences between the three options, aside from the obvious difference in time that each loan offers. Many borrowers opt for the Read more
Should you Refinance your 30-Year Loan?
Many people think that when rates drop they should jump on the refinance bandwagon and get that lower rate. For some people this might be the right option, but likely to be for a select few. A lower rate is not the only thing you need to look at – there are many factors to consider before you trade Read more
