Your home’s equity is likely one of your most valuable assets, and it likely took years of hard work to accumulate. At first glance, going backwards by borrowing money on your home seems like a bad move. However, in some situations, taking advantage of a reverse mortgage can be a lifesaver. While a reverse mortgage … Continue reading 3 Signs a Reverse Mortgage Is Right for You
A good credit score is not the only item in question when buying a home, but it is a major one. So, what is a good credit score? Generally, a FICO credit score of 700 is considered good. The national average credit score has been slowly growing since the 2008 recession. In 2018 the average … Continue reading What is a good credit score?
Buying a home is likely the largest purchase you’ll make in your life. Whether it’s your first home or your dream home, you want to make sure you buy a house in a location you’ll love for years to come. Are you relocating to a new city? Do you have kids who need to be … Continue reading Factors That Matter Most About Location
Traditional fixed-rate mortgages are the most popular types of loan programs for borrowers because they generally involve an unchanging monthly mortgage payment that is easy to budget around. The most common fixed-rate mortgages are 15-year and 30-year loans, and while both of their interest rates are fixed over their lifetimes, they each offer different advantages … Continue reading The Pros and Cons of 15-Year and 30-Year Mortgages
While interest rate fluctuations are common in the mortgage industry, there are actually several reasons why refinancing sooner rather than later can be a good idea. Here are some of the best times to refinance. Before Your ARM Rate Fluctuates If you have an adjustable-rate mortgage (ARM), then it’s a good idea to refinance before … Continue reading When is the Best Time to Refinance?
Beneficial to both tenants and landlords, rent-to-own agreements provide tenants the option to purchase a rental property after living a specified amount of time at that residence. While such contracts commonly involve single-family homes, they can also be applied to apartments, condos, and duplexes. To better understand how such an arrangement can benefit you, here … Continue reading The Basics of Rent-to-Own Agreements
As a first-time home buyer, finding the right mortgage solution can be overwhelming. Because all mortgage loans differ from one another, it is best to work with an experienced mortgage firm that can help you select the best one. Some factors to consider when choosing a mortgage option are: The size of your down payment … Continue reading The Best Mortgage Option for a First Time Home Buyer
Although you may have chosen a 30-year mortgage loan, who says you must wait that long to own your home outright? If you are someone who would like to pay off your mortgage early, there are several ways to accomplish your goal. Refinance into a 10, 15, or 20-year mortgage Although a 30-year mortgage is … Continue reading Tips to Shorten Your Mortgage Term
Not only does paying late and defaulting on your mortgage loan lower your credit score, but it also makes it more difficult for you to refinance or obtain another loan in the future. Even worse, the lender could repossess your home and sell it. While unexpected events happen such as job loss or illness, defaulting … Continue reading How to Avoid Mortgage Default
As new construction continues, employment steadies, and U.S. wages rise, we can expect to see many Americans buying homes in 2019. Whether someone wants to live an active lifestyle downtown or a more relaxed one close to the beach, the Central Florida housing market is a compelling real-estate investment choice for both locals and those … Continue reading 2019 Orlando Home Buying Forecast