How Much Equity Do I Need to Refinance?

How Much Equity Do I Need to Refinance?

Many homeowners take advantage of the refinance option to reduce monthly mortgage payments, lower interest rates or to get a shorter term on the mortgage. Another benefit of refinancing that many homeowners take advantage of is using the equity in their home to pay...
What Is the 28 36 Rule?

What Is the 28 36 Rule?

When you start looking for your dream home the first thing you should consider is affordability. Buying a home is one of the biggest financial decisions you’ll ever make. You must know how much home you can comfortably afford and it’s best to know this...
Paying Off a 30-Year Mortgage in 15 Years

Paying Off a 30-Year Mortgage in 15 Years

Most homeowners opt for a 30-year mortgage because it is the most affordable option. This is especially true of first time homebuyers. Once you get settled in and are comfortable making your house payment each month, you may begin to wonder how you can pay off your...
Can You Refinance Your Mortgage at Any Time?

Can You Refinance Your Mortgage at Any Time?

When you refinance your mortgage, you have to take out a new loan to pay off the old one. Reasons for doing this vary, but often lower interest rates motivate homeowners to refinance to save money on interest. Some homeowners want a shorter term to pay off the...
Mortgage Rates Have Jumped, but Just How Bad Is It?

Mortgage Rates Have Jumped, but Just How Bad Is It?

Inflation is at its highest rate in over 40 years, and younger Americans are especially feeling the pain. Homebuyers are aghast at the record-high home prices, and most young people are currently priced out of the housing market. Added to the major problem of...