26 Oct 2022
By Tawnya King

Amortization: What You Need To Know About How Your Loan Is Paid Off

Mortgage
If you own a home, you will see a lot of information about your payment schedule. It specifies exactly what payments you have to make, when you have to make them, and how much of each payment will go toward your principal and interest. This is called an amortization schedule, and it is typically designed in such a way that your last payment pays off your loan down to the penny. How does this impact the life of your loan? Most Of Your First Few Payments Go Toward The Interest During the first few years, the majority of each payment…
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25 Oct 2022
By Tawnya King

What Do First-Time Homebuyers Need To Know?

Mortgage Tips
If you are purchasing a house for the first time, you are probably excited to imagine what your life might look like in a bunch of different houses. At the same time, the process can be a bit overwhelming. The housing market is competitive right now, the financing process can be confusing, and you might not know exactly what you are looking for. What are a few of the most important tips first-time home buyers need to know? Reach Out To Experts For Help First, you need to reach out to professionals who can help you during the process. For…
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24 Oct 2022
By Tawnya King

What’s Ahead For Mortgage Rates This Week – October 24, 2022

Financial Reports
Last week’s economic reporting included readings from the National Association of Home Builders on national and regional  U.S. housing markets. The National Association of Realtors® reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Home Builder Confidence in Housing Market Falls for 10th Consecutive Month The National Association of Home Builders reported that home builder confidence in the U.S housing market fell for the 8th consecutive month in October; the organization described the situation as “unsustainable.” The NAHB…
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21 Oct 2022
By Tawnya King

Refinancing A Mortgage: How Does This Work?

Mortgage
If your financial situation has changed, you might be interested in refinancing your mortgage. In general, refinancing means that you will replace your current mortgage with a new one. The process of refinancing is similar to the process of applying for a mortgage, but you need to think about your goals during the refinancing process. That way, you can put yourself in the best financial position to be successful. Why RefinanceYour Mortgage? There are several reasons why you might be interested in refinancing your mortgage. For example, you might want to tap into the equity in your home to cover…
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20 Oct 2022
By Tawnya King

What To Know About Flood Insurance

Mortgage Tips
Flooding can happen in any location at any time. Even though many people associate floods with coastal properties, flooding can take place inland as well. That is why you always need to take a look at the map to figure out whether your property is located in a flood zone. There are some situations where your lender might require you to purchase flood insurance. What do you need to know? What Is Protected And What Is Not? When you purchase flood insurance, there are three broad components that you should examine. You need to check and see whether the policy…
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19 Oct 2022
By Tawnya King

The Top Tips To Get Your Offer Accepted

Mortgage Tips
The housing market today is very competitive, and you might be wondering how you can get your offer accepted. If the seller has multiple offers on the table, it can be a bit of a challenge. Many people assume that the best way to get an offer accepted is to offer the most money. Even though that is certainly helpful, there are several other tips you should follow to make sure your offer is the one the seller picks. Get Pre-Approved For A Mortgage First, you must make sure that you get pre-approved for a mortgage. Unless you are paying…
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17 Oct 2022
By Tawnya King

What’s Ahead For Mortgage Rates This Week – October 17, 2022

Financial Reports
Last week’s economic reporting included readings on month-to-month and year-over-year inflation and the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The University of Michigan published its preliminary consumer sentiment reading and weekly reports on mortgage rates and jobless claims were also released. September Inflation Readings Provide No Relief Inflation rose by a month-to-month pace of  0.40 percent in September as costs for staples including rent, food, and medical care increased. The Fed raised its target interest rate by 0.75 percent. Year-over-year inflation rose by 7.20 percent; this was the highest growth reading since…
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