Last week’s economic reports suggested that demand for homes is rising despite a jump in mortgage rates and rising home prices fueled by low inventories of homes for sale. Demand for homes rose by 1.40 percent as interest rates jumped after the 10-year Treasury rate rose by 10 basis points.
With all the expenses that go into monthly living and the temptations that come along with life, saving money for the down payment on your new home can be quite a struggle for many people. If you’re having a hard time saving and are wondering what you can do to ensure a higher bank balance next month, here are a few things that may pose a risk getting the home of your dreams.
Title insurance protects you and your lender from title disputes and other ownership issues that may arise. Here are just a few ways that title insurance can impact your mortgage.
When you have been researching your different options for a mortgage on your home, you might have heard of an âInterest Only Mortgageâ. What exactly does this type of mortgage mean and how does it work?
If you are on the verge of buying real estate, you’ve probably heard the term Private Mortgage Insurance. Mortgage professionals talk about it a great deal, but you may be asking, “What is it exactly? And why should I care?”
As lenders tighten mortgage guidelines for home buyers, minimum down payment requirements are increasing.
Are you applying for a mortgage on your home? Keep in mind that a mortgage is a major financial decision and choosing one will have a significant impact on the rest of your life.
What happens if you go through a tough financial period and you find yourself behind on your mortgage payments for your home?
If you are applying for a mortgage to buy a home, doing your homework in advance before you submit the application means that you will stand a better chance of getting accepted at a desirable mortgage rate.
Paying off the mortgage on your home faster means that you will not only have the satisfaction of owning your own home sooner, you will also have the benefit of paying much less in interest over the years.
The faster you pay off your mortgage, the more money you can save, so here are some tips to accelerate your payment schedule.