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Don’t Let Rising Interest Rates Deter Your Purchase of a Home
A possible buyer’s worry is that rising interest rates will make it more expensive to take out a mortgage and make a home purchase. Rising interest rates might seem discouraging,…
All about the Debt-to-Income Ratio
What bills are calculated in the debt to income ratio? How much of your monthly income goes toward paying off debts is quantified by the debt-to-income (DTI) ratio. It’s a…
All About Home Inspections
What is a Home Inspection? When a trained professional inspects a home, they look at many different aspects of it to determine its overall condition. A home inspection is a…
How to Estimate Homeowner Insurance Before Buying a House?
When buying a house, it’s important to consider the cost of homeowner insurance as part of your budget. Homeowner insurance can protect you from financial losses due to events such…
How Does Refinancing Work in Real Estate?
What is a Mortgage Refinance? When you refinance your mortgage, you exchange your current loan for a new one, typically with a new principal and interest rate. The new mortgage…
How Will Rising Interest Rates Affect Mortgage Payments?
November 2022 began with an all-too-common theme, with the Fed, once again, hiking up the federal interest rate in an attempt to cool inflation. This latest increase brings interest rates…
Why do they call it Mortgage instead of ‘Home Loan’?
What is a Loan? The lender and the borrower form a relationship through the loan. In this scenario, the lender is also referred to as a creditor and the borrower…
Do Mortgage Interest Rates go Up or Down During a Recession?
The specter of a recession has returned, and with it, for some, the fear that mortgage rates will rise. However, the possible reaction of rates at this time is unknown….
How are Mortgage Interest Rates Calculated?
Most people’s single largest investment is the mortgage on a home. Mortgage lenders and banks will typically finance 80% of the purchase price of a home, with the buyer agreeing…
What is Mortgage Insurance, How it Works, and When You’re Required to Have It?
What is Mortgage Insurance? Mortgage insurance is a tool to enable buyers to qualify for loans they may not otherwise have been eligible for. Defaulting on payments, dying, or otherwise…
