You get an annual physical. You see the dentist once or twice a year. You sit down with your accountant yearly, too. Shouldn’t you check in on your mortgage just as often? Your mortgage might clock in at hundreds of thousands of dollars, and it makes up a large chunk of your household wealth. [...]
There are dozens of reasons you might want to refinance your mortgage loan. For one, it could help you lower your interest rate, thus lowering your monthly payment (plus the total interest you pay over the course of your mortgage). Additionally, you can also refinance to pay your loan off faster, to access cash, [...]
With mortgage rates at historic lows at the time of publication, many homeowners are wondering: is it time to refinance? Though a refinance has the potential to bring about some serious benefits (a lower payment, less interest paid, a quicker pay-off timeline, for example), the truth is it's not right for everyone. It's important [...]
There are times when homeowners find themselves underwater on their mortgage, which means the balance of the mortgage is higher than the fair market value of their property. This became a big problem when the housing bubble burst over ten years ago, but it still happens today. For ten years, the Home Affordable Refinance [...]
College is expensive. The average cost of public college is nearly $10,000 per year for in-state residents and more than twice that for out-of-state residents. Add that up over four years and you’ve got a pretty hefty sum of money on your hands — a sum that many students (and their parents) just don’t [...]
Refinancing can be beneficial for many homeowners. It can lower your rate, your monthly payment and maybe even shorten the total length of your loan. But if you have two mortgage loans on your hands? Then refinancing might be even more powerful a financial tool. You might have two mortgages because: You took out [...]
In the present moment while writing this blog, mortgage rates are officially at their lowest point in almost two years, according to Freddie Mac. For would-be buyers, that can mean a more affordable entry into homeownership. But for existing homeowners? It can be the ticket to serious savings and a slew of both short- and [...]
Just because you’re saving up to buy a house doesn’t mean you have to scrimp and penny-pinch at every turn. Even more importantly? It doesn’t mean skipping that much-needed summer vacation either. If you’re looking to buy a house but still need a little R&R this season, there are plenty of ways to travel [...]
With mortgage rates dropping in the first quarter of the year, the number of homeowners refinancing has steadily climbed. And it’s no wonder why. Refinancing your mortgage can come with serious benefits. From lower interest rates and reduced monthly payments to faster repayment periods and access to quick cash, the advantages are many if [...]