A low interest rate is appealing because it means a lower mortgage payment. However, before you sign on the dotted line, it’s important to read the fine print that comes with that low rate. Here are a few details to inquire about before you proceed as they could affect your options down the road and … Continue reading
A rate hold is the length of time your interest rate is held for, it’s used to protect the borrower from rising interest rates. If rates go up before your rate hold has expired, you are entitled to the original lower rate that was held for you. If they go up after your rate hold has … Continue reading
2016 brought the 6th set of mortgage rule changes since 2008 and while there is plenty of speculation on how the real estate market will be affected by them, I believe they were implemented with minimal immediate impact. For the majority of borrowers, financing a home is a process you will go through a … Continue reading
Tips for smoothly navigating two home transactions simultaneously You own a home now, but it’s time to make a change. If you’re moving up or downsizing, you probably have questions about how it all works. That is, the logistics of buying another home while you still own your existing property. Here are 10 facts you need … Continue reading
If you’re like most borrowers, you won’t be shopping for a mortgage very often. This means you may not know all about the specialty mortgage products that are currently available in the mortgage market. I’ve provided a brief overview of a few of the less common mortgage financing options below that I have recently encountered. … Continue reading
Okay, maybe that is not the first thing that comes to mind immediately following an engagement. If you do have marriage on your mind, you are probably also thinking about where you’re going to live when you begin your life together, which would likely include space for your children. If buying a home versus renting … Continue reading
Mortgages are not a subject we learn about in high school, although I wish they were. Credit, interest rates and qualifying for a mortgage are all things that will greatly affect your lifestyle going forward. Most learn about them only when they are ready to buy a home, through friends, family, or the Internet. My concern … Continue reading
