One government-backed loan that doesn't get a lot of attention, but features a number of great benefits, is the United States Department of Agriculture (USDA) Rural Development Guaranteed Home Loan. According to their website, the USDA provides approved lenders a 90% loan guarantee so that they in turn can offer rural homebuyers of, "low and [...]
For most of us, our mortgage payment is the biggest monthly bill we pay. The best part of that payment is that it builds equity that can be used to improve your financial situation. It's what separates your mortgage payment from a car loan and credit card bills. So, when those monthly bills begin to [...]
Whether your credit card balances have gotten out of hand or you’re just tired of tracking 15 different bills and payments every month, debt consolidation can be a great option—saving you both money and hassle over the long term. Put simply, debt consolidation allows you to roll all of your debts (everything from medical bills [...]
A VA refinance loan can be a great option for qualified veterans, military personnel, and their spouses. Whether you're looking to refinance for a lower interest rate, a shorter payment term, or to take cash out, as a veteran you have a number of options to lower monthly payments, consolidate debt, or find the cash [...]
A homeowner may choose to refinance their mortgage for a number of reasons, including to: Obtain a lower interest rate, lower their monthly payment, and save over the life of the loan Switch from an adjustable rate mortgage to a fixed rate mortgage to avoid rate increases Consolidate debt (like credit cards or auto loans) [...]
For the past 25 years, declining interest rate refinancing has been an ideal way for homeowners to access the equity in their homes. As rates went down, homeowners were able to refinance to consolidate high interest credit cards, auto loans, and other debt—lowering monthly payments and improving their cashflow. Homeowners took advantage of cash out [...]
Do you want to finish 2018 with fewer monthly expenses and more cash in your pockets? Then you might want to consider a mortgage refinance—and soon. If you’ve owned your home for a few years or more, you’re likely paying more than you need to for your mortgage. Today’s mortgage rates are at historical lows, [...]
When you already own a home and have a mortgage, you have two options to consider should you ever need a little extra cash in your pocket: Refinance your current loan or apply for a home equity line of credit (HELOC). But what’s the difference between the two and how do you know which is [...]
There are lots of benefits when you refinance loans---particularly in this time of historically low mortgage rates. By refinancing, you can take advantage of those low rates, lower your monthly mortgage payments, and leverage the equity in your home to put more cash in your pocket or away for a rainy day. Are you considering refinancing your [...]
A mortgage loan refinance is a great way to lower monthly payments and free up much needed cash. In order to determine whether a refinance is right for you, there are several factors to consider. Your Embrace Mortgage Specialist can help you determine whether you should refinance and just exactly how much money you can [...]
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