Blog - Page 2 of 131 - Tawnya King

14 Aug 2025

The Impact of Bankruptcy on Mortgage Eligibility

Mortgage Tips

Going through bankruptcy can be a challenging and stressful process. However, it s important to understand how bankruptcy may affect your ability to secure a mortgage in the future. Bankruptcy, whether Chapter 7 or Chapter 13, can significantly impact your credit score and financial history, both of which are critical factors when applying for a mortgage. Despite this, it's possible to obtain a mortgage after bankruptcy, though the path may be a bit more complicated. Chapter 7 Bankruptcy and Mortgage EligibilityChapter 7 bankruptcy, also known as liquidation bankruptcy, involves the discharge of most unsecured debts. This means that individuals who…

13 Aug 2025

By Tawnya King

The Benefits of Paying Points on Your Mortgage

Mortgage Tips

The Benefits of Paying Points on Your MortgageWhen you take out a mortgage, you may be given the option to pay points in exchange for a lower interest rate. A mortgage point, also known as a discount point, is equal to 1% of the loan amount. For example, if you re financing $200,000, one point would cost $2,000. While paying points means you ll pay more upfront, it can offer long-term savings. Understanding the benefits of paying points on your mortgage can help you decide if it's the right move for you. What Are Mortgage Points?Mortgage points are fees paid…

12 Aug 2025

By Tawnya King

Cash-Out Refinance vs. Rate-and-Term Refinance: Which One Is Right for You?

Mortgage Tips

When considering refinancing your mortgage, two main options often come to the forefront: Cash-Out Refinance and Rate-and-Term Refinance. Both allow you to change the terms of your mortgage, but they serve different purposes and have distinct advantages. Understanding the differences between these two refinancing options is crucial to making an informed decision that best aligns with your financial goals. What Is a Cash-Out Refinance?A Cash-Out Refinance allows you to replace your existing mortgage with a new one for more than you currently owe. You receive the difference in cash, which you can use for various purposes, such as paying off…

11 Aug 2025

By Tawnya King

What’s Ahead For Mortgage Rates This Week – August 11th, 2025

Financial Reports

The major report to look out for was the Trade Balance, which has decreased more than expected, suggesting that the current administration's policies are having an impact. However, the long-term impact on the economy as a whole remain to be seen. This was followed closely by consumer credit, which came in far lower than expected, though many are predicting that consumer credit usage will grow over time. While the labor market remains constrained, the consumer market has remained stable in spite of the uncertainty brought on by the tariff policies. Trade BalanceThe U.S. Census Bureau and the U.S. Bureau of…

08 Aug 2025

By Tawnya King

Why Retirees Are Taking Out Mortgages on Purpose

Mortgage Tips

For generations, the goal was simple, pay off your mortgage before retirement and enjoy your golden years debt-free. But today’s retirees are changing the conversation. More and more, homeowners in or near retirement are choosing to take out a mortgage on purpose, not out of necessity. And for many, it is a smart financial move. So why would someone take on a mortgage after age 60, 70, or even 80? The answer lies in strategy, flexibility, and long-term planning. Preserving Retirement Assets Many retirees live on a fixed income, often supported by savings, pensions, or investment accounts. Tapping into these…

07 Aug 2025

By Tawnya King

Your Mortgage Timeline, Backward

Mortgage Tips

For many homebuyers, the mortgage process feels like a maze. You know you want to own a home, but the path to get there can feel confusing. So let us try something different. Instead of walking forward through the process, let us walk backward, starting from the moment you get the keys and working our way to where you are now. Seeing it in reverse can help demystify the journey and show you how each step builds on the last. Closing Day: You Get the Keys This is the moment you have been waiting for. On closing day, all paperwork…

06 Aug 2025

By Tawnya King

From Divorce to Fresh Starts, the Mortgage Paths No One Talks About

Mortgage Tips

When people think about getting a mortgage, the story usually sounds the same, young couple, starter home, perfect timing. But real life does not always follow that script. The truth is, many people come to the mortgage process in the middle of a major life change. Divorce, job loss, rebuilding credit, or starting over later in life, these chapters are real, and so are the mortgage paths that come with them. If this is where you find yourself, you are not alone, and you are not without options. Divorce and the Next Chapter Divorce is one of the most common…