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

The common objective for many people is to pay off their mortgage as fast as possible. This is based on two fundamental reasons. First, they want to save money on the amount of interest they are paying and, secondly, they wish to eliminate the mortgage so that they own the…continue reading

When you are buying your first home you most probably will be thinking about the down payment and the mortgage interest rate. But, it will be a mistake if you forget to take into account the closing costs associated with closing a home. In a time where unemployment is high…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

Buying a home with cash is no doubt the best option. But, many people do not have so much hard cash lying around that is why mortgage loans are a crucial part of the home buying process. As you prepare to purchase a home with a mortgage loan, you will…continue reading

Congratulations! The seller has accepted your offer and you are ready to move into your dream home. But, before you sign on the dotted line, it is imperative that you have a professional home inspection done within a week to 17 days after your purchase offer has been accepted. Here…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

Typically when you buy a new home the rule of the thumb is that you sell your current home and use the proceeds to pay for the down payment of your new home. Unfortunately, it does not work out that way for many people. They may need to purchase another…continue reading

Create wealth through homeownership-build equity. While, your home is one of your biggest investments and it brings together so many things under the same roof: dreams, status, shelter and maybe a gateway to better schools and neighborhood, your home equity is your financial stake in your house and is considered…continue reading

Buying and owning a home is part of the American dream and is probably the biggest investment. It can be a huge drain on your monthly budget and prevent you from retiring early, taking a dream vacation or even sending kids to college. The idea of paying off the mortgage…continue reading