mortgage

Over recent months many homeowners’ have taken advantage of the record-low interest rates to refinance their mortgage and lower their monthly expenses. If there is no specific plan on how to utilize these savings then it is easy to spend it on needless expenditure. So, if you have refinanced recently…continue reading

One of the largest loans that you receive is a home loan. So, lenders need to evaluate your financial status to ascertain whether your income will cover the mortgage payment and other monthly debts. For this you need to be ready to submit a bunch of documentation which includes your…continue reading

The economy has taken a nosedive due to the Covid-19 pandemic and mortgage rates are at their historic lows. This has resulted in many homeowners rushing to refinance their mortgage to shave down on monthly payments and build equity faster. If you are considering refinancing your mortgage for the first…continue reading

Like many mortgage loan applicants, you have probably heard from friends, colleagues, and family that you need two years of continuous employment history to qualify for a home loan. So, if you have found yourself out of employment for an extended period, due to the COVID-19 pandemic or any other…continue reading

If you are taking out a mortgage for the first time or are unfamiliar with the mortgage process, there is a cost that is easy to overlook in the excitement of going through the home buying process. It is known as private mortgage insurance or PMI that homebuyers need to…continue reading

Since the COVID-19 pandemic hit the US markets in March, the mortgage rates have dropped to record lows. According to data from Freddie Mac the 30-year rate mortgage decreased to 3.03% and a 15-year mortgage to 2.51% last week. These are the lowest in Freddie’s survey which dates back to…continue reading

Are you planning to buy a house soon? If you do, then knowing your debt to income ratio is as important as knowing your credit score and your credit history because it plays a vital role and can come in the way of you being able to qualify for a…continue reading

It is an exciting experience after the purchase of your dream home and becoming a homeowner. Unfortunately, financial circumstances like job loss, unexpected health issues, the increase in the interest rate of an adjustable mortgage, or pay cuts can leave you facing difficult financial decisions. Before the Covid-19 pandemic, the…continue reading