Detailed mortgage information to help home buyers and homeowners.
War, crisis, and mortgage rates….three words you usually don’t hear together. When we have the potential for war, armed conflict, or an international crisis we are asked this question a lot: How does war and crisis impact mortgage rates? For people looking to purchase a new home or those looking to refinance a current mortgage, … Read more
30-Year Fixed Vs. 15-Year Fixed The 30-year fixed vs. 15-year fixed mortgage debate has been going on for decades! Every homeowner wants a low mortgage payment, and every homeowner wants to pay off their mortgage as fast as they can; however, combining the two to get the full benefit of both options is not possible. … Read more
Government Shutdown – Impact On Mortgages Every year, politicians in Washington claim there will be a government shutdown. Since 1980, there have been fifteen government shutdowns (as of 2024).1 A government shutdown can impact the mortgage industry in various ways, including mortgage rate volatility leading up to the shutdown and delaying the issuance of loan … Read more
When Not To Refinance Refinancing your current mortgage doesn’t always make sense, and here are some guidelines for determining when not to refinance. We all want the lowest rate and payment possible, but sometimes, a refinance is not a good idea. It’s important to make sure you’re making informed financial decisions – especially when it … Read more
Buying Down The Rate Buying down the rate is when you pay a fee to the mortgage lender for a lower interest rate. The most widely recognized payment is a “1 point buydown,” which typically reduces the mortgage rate by 0.125% – 0.375%. Buying down the rate is offered by most mortgage lenders. Is buying … Read more
Loan Estimate Explained The Loan Estimate is an informational document the mortgage company provides within three days of you completing a loan application. It has three pages, each providing a detailed disclosure about your loan. It includes the interest rate you were quoted, the costs and fees associated with the transaction if your loan has … Read more
Down Payment Requirements For A First-Time Homebuyer As a first-time homebuyer, you have several loan program options when it comes to financing your home purchase. The down payment requirements for a first-time homebuyer will differ from program to program. The idea of the traditional 20% down payment for a first-time homebuyer (FTHB) went away years … Read more