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Financing a Second Home? Use a Home Equity Loan
Home Equity Loans

Financing a Second Home? Use a Home Equity Loan

Buying a second home can pose some challenges you don't face when buying a home for your primary residence. The mortgage interest rates are higher. Lenders will scrutinize your credit reports and income documentation very closely to ensure you have sufficient income to meet all your obligations. The property itself may be difficult to qualify for a mortgage.

Dan Rafter
7 days ago
Getting a mortgage with a new job? It's easier than you think
Home Purchase

Getting a mortgage with a new job? It's easier than you think

There are plenty of requirements you must meet when applying for a new mortgage or when you plan to refinance your existing loan. Lenders will look at your debt levels, income and credit score. They’ll also look at your employment history. Fortunately, getting a mortgage with a new job is far from an impossible task.

Aaron Crowe
7 days ago
Options for Refinancing an FHA Mortgage in 2021
FHA Loans

Options for Refinancing an FHA Mortgage in 2021

Are you a homeowner with a current Federal Housing Administration (FHA) loan? If so, there are options in today’s mortgage lending market that could help save you money. Options include refinancing to a Conventional home loan with a low rate, eliminating FHA mortgage insurance (MIP), or using the FHA streamline refinance program.

David Mully
30 days ago
Refinance a Jumbo to a Conventional Mortgage - 2021 Loan Rate Savings
Jumbo Loans

Refinance a Jumbo to a Conventional Mortgage - 2021 Loan Rate Savings

Good news for Jumbo mortgage holders! If you have a current mortgage balance under $548,000 most likely you have a higher rate than necessary. The increase in 2021 for conforming home loan limits are increasing to $548,250 for a single-family unit in most parts of the U.S. This increase is up from the previous limit of $510,400 in 2020. Conforming loan limits in 2021 can go as high as $822,375 in Alaska and Hawaii in 2021. So for example, if you have a current Jumbo mortgage with a balance of say $530,000 you can now potentially qualify for a better conforming loan interest rate.

David Mully
30 days ago
Home Refinance 2021 Costs vs. Benefits | Conventional Mortgage
Mortgage

Home Refinance 2021 Costs vs. Benefits | Conventional Mortgage

Before you decide to do a home refinance, evaluate the benefits vs. the closing costs to make sure you understand the entire picture and if it is smart to move ahead. Starting by consulting with a Financial Advisor or a CPA is a good idea. They often are the ones who recommend refinancing to their clients when they can see that the benefits outweigh the costs.

Emma Clifford
30 days ago
Consolidate Debt: Home Equity Loan, Mortgage Refinance and Personal Loans
Personal Finance

Consolidate Debt: Home Equity Loan, Mortgage Refinance and Personal Loans

With the current COVID-19 situation most of us could use solutions to help our financial situation. Consolidating debt with a home equity loan is one good option. Most people have more than one debt. You may have high interest credit cards, loans and mortgages. Refinancing a mortgage with fixed rates so low, may be a more desirable option with one low fixed monthly payment. A Personal loan from a bank or credit union could also help you achieve your goal.

David Mully
2 months ago
How To Finance A Boat
Personal Finance

How To Finance A Boat

A boat, large or small, motor or sail, can be a great place to relax after a hard week in the office. Learn how to finance your own dream yacht.

Kirk Haverkamp
4 months ago
How to Apply for an FHA Loan
FHA Loans

How to Apply for an FHA Loan

Applying for an FHA loan
Home ownership is a goal that can be tough to reach. FHA loans can make it easier. With low down payments, relaxed credit requirements and competitive rates, FHA loans are designed to meet the needs of first-time homebuyers and other buyers whose credit or finances might make it difficult to qualify for a conventional mortgage.

Dan Rafter
4 months ago