Choosing between taking a fixed rate or variable rate mortgage option is a decision every mortgage holder must make!
This decision requires multiple factors to be taken into consideration. Below I will outline some of the things a borrower should consider before choosing which type of mortgage term is right for them.
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A home equity lines of credit (HELOC) is an option available to home owners that allows them to leverage the equity they have built up in their homes.
When you apply for this type of loan, you can choose to receive a lump sum of cash to use as you please (Full amount or partial), or borrow the sum over time to use as you please.
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So you are ready to buy your first home, now what? Your first step should definitely be to obtain a mortgage pre-approval, but don’t get that confused with a “Pre-Qualification”.
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Refinancing your mortgage is a great way to take utilize your home’s equity, to take advantage of lower interest rates, consolidate debt, and save money. But it can also cost you money if you do it in the wrong way or with the wrong lender!
Before you refinance, it is always best to meet with an independent Mortgage Professional like myself, to make sure you are getting the right product for your current and future needs.
Before you choose to refinance your Mortgage, you should know these 5 things; (more…)
Most adults have several different types of debt; Credit card, car loan, line of credit, and the biggest one, your mortgage. There is nothing wrong with this, but we have to be careful to use these credit lines properly, to know what the product is, and whether you are getting the best product for your needs.
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These suggestions can help you avoid the stress and blockades that many borrowers have faced along the route to approval.
If you don’t already know, getting pre-qualified is always the very first step that should be taken! However, even before the per-qualification, you need to make sure you have all your ducks in a row! (more…)