Mortgage rates have been at record lows for quite some time, making it easy for new homebuyers to finance their dream homes. But what comes down will eventually go back up, and with the world economy expected to rebound in 2016, we’re about to start seeing more expensive mortgages. So what can you do to prepare yourself before mortgage rates start to rise? Here are three strategies that will keep you ahead of the game.
Homeowners need to make sure they maximize every square foot of their home. This includes the closet. A lot of people get frustrated when they look at their closets because they feel like they cannot find what they are looking for. Anyone who is struggling to keep their closet organizers should take a look at a few important points below.
Last week’s scheduled economic reporting included readings on consumer prices, retail sales, and the University of Michigan’s preliminary Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released.
When someone is looking at purchasing a home, they usually focus on the purchase price of the home and the potential monthly payment. At the same time, there are other costs that need to be included as well. This includes home insurance and real estate taxes. As a result, many homeowners find themselves asking if they should use an escrow account or not. What do homeowners need to think about and how can they make the right decision?
With more people spending time at home than ever before, many people are wondering how they can go about changing the way the home is laid out. This can be an expensive project, which is why many people are interested in getting a home improvement loan.
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property.
While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.
Applying for a home loan can be an exciting process; however, this is a major financial decision. Therefore, potential homeowners need to make sure they understand how to shop for the best mortgage rate possible. A mortgage is usually a long-term loan, allowing potential homeowners to purchase a home using small monthly payments. Fortunately, there are a variety of tools available that can make the process easier. What do potential homeowners need to know when shopping for mortgage rates?
Last week’s economic reporting was limited due to the Labor Day holiday. Job openings were reported along with weekly readings on mortgage rates and jobless claims.
When applying for financing, lenders want to make sure the client is going to pay back the balance of the loan. Therefore, they will look into pre-existing debt including credit card debt, student loans, car payments, and back taxes. Sometimes, applicants have IRS installment agreements. This is an agreement consumers make with the IRS to pay taxes over an extended timeframe. How might this impact someone’s ability to apply for home financing?
If you have a mortgage, you’re probably looking for the best option to pay it off. So is a biweekly payment or monthly payment the better option for you? Which payment strategy best fits your individual circumstances? Here’s what you need to know.
Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days.