Personal Finance Articles

Want to get your personal finances in order but you're not sure how?
Here at Mortgage Loan, we have a few tips!
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
What to consider when buying homeowners insurance
Personal Finance

What to consider when buying homeowners insurance

Homeowners insurance isn’t as price-competitive as auto insurance, making it one of those things you have to buy — mortgage lenders require having homeowners insurance set up before a home loan is finalized so that their collateral is protected — but something that many people are likely to shop for once and then forget about it.

Aaron Crowe
10 months ago
Study: Renters have more regrets than homeowners
Personal Finance

Study: Renters have more regrets than homeowners

Owning a home and sending payments to your mortgage lender each month can be tough. That mortgage bill is probably the biggest expense you face, and maintaining a home is no inexpensive task. You can easily spend thousands of dollars a year should your hot water heater burst, furnace conk out or roof start leaking. And if you are paying off an adjustable-rate mortgage, you might be watching mortgage rates closely to make sure your monthly mortgage payment doesn’t rise too much.

David Mully
2 years ago
Freezing your credit against identify theft: What to know
Personal Finance

Freezing your credit against identify theft: What to know

Worried that a hacker will steal your personal information and use it to apply for credit cards, a home equity line of credit (HELOC) or personal loans in your name? Then it might be time to freeze your credit, something you can do free with the three national credit bureaus of Experian, Equifax and TransUnion.

Kirk Haverkamp
2 years ago
Home equity is growing. Should you tap it?
Personal Finance

Home equity is growing. Should you tap it?

According to the latest research from CoreLogic, homeowners across the United States gained plenty of home equity last year. That’s good news for homeowners, who can tap their equity for everything from paying down credit card bills to covering at least part of their children’s college education.

Dan Rafter
2 years ago
Will second appraisal rule make it harder to get a reverse mortgage?
Personal Finance

Will second appraisal rule make it harder to get a reverse mortgage?

It might be a bit more challenging for seniors to qualify for some reverse mortgages now that the Federal Housing Administration has enacted its second-appraisal rule. This doesn't mean, though, that seniors who want to tap the equity in their homes should panic: The new rule, which applies to the FHA's Home Equity Conversion Mortgage (HECM) program, hasn't yet impacted many reverse mortgage applications.

David Mully
2 years ago