Tawnya King

03 Jun 2022

Should You Use A Home Equity Loan To Buy A Vacation Home?

Mortgage

If you are looking for a way to diversify your investments while also making it easier to go on vacation, you may have thought about purchasing a vacation home. Saving up enough money for one house was already hard enough, so how are you going to save up money for a second house? If you have owned your primary residence for a while, you might be able to take out a home equity loan. Then, you could use this to purchase a vacation house. How Does A Home Equity Loan Work? A home equity loan allows you to borrow against…

02 Jun 2022

By Tawnya King

How Much Should You Budget for Closing Costs? Let’s Take a Look

Home Mortgage Tips

If you're in the market for a new home, you're probably trying to budget for all of the expenses that come with a home purchase. After all, the asking price isn't necessarily the entire amount that you'll pay - there are other expenses that will factor in to the final price. One such expense is your closing costs. Closing costs are the miscellaneous fees you'll pay when you sign the deal to buy your home. But how much do you need to save up for closing costs? Here's what you need to know. The General Guideline for What to Expect…

01 Jun 2022

By Tawnya King

Make Modifications To Age In Place With A Home Equity Loan

Mortgage

There are a lot of people who would like to remain in their homes for as long as possible. Unfortunately, a traditional home may have a few features that can make it difficult for people to stay in their homes as they get older. There are some modifications that can be done relatively easily to reduce the risk of falls. This includes adding handrails, improving the lighting, and even adding seats in the shower. Unfortunately, some modifications, such as making a home wheelchair accessible, can cost thousands of dollars. A home equity loan can make this process much more affordable.…

31 May 2022

By Tawnya King

What’s Ahead For Mortgage Rates This Week – May 31, 2022

Financial Reports

Last week’s economic reporting included readings on new and pending home sales, minutes from the Federal Reserve's recent Federal Open Market Committee meeting, and data on inflation. Weekly readings on mortgage rates and jobless claims were also released. New and Pending Home Sales Fall The annual pace of new home sales fell in April according to the Commerce Department. Year-over-year sales of new homes fell to a pace of 591,000 sales as compared to the March reading of 709,000 sales of new homes. Analysts expected a year-over-year pace of 750,000 new home sales in April. Rising home prices and mortgage…

27 May 2022

By Tawnya King

Whatever You Do, Don’t Make These Common Mortgage Mistakes

Mortgage Tips

Are you applying for a mortgage on your home? Keep in mind that a mortgage is a major financial decision and choosing one will have a significant impact on the rest of your life. Many people go into this decision without understanding all of the essential mortgage information they need to know, which means that they are likely to make poor choices that will result in paying much more than they need to. If you want to save yourself from throwing away your hard earned money, here are a few common mistakes to avoid: Trying To Bottom Out the Market…

26 May 2022

By Tawnya King

FHA Streamline Refinance Mortgage Loan Program

Home Mortgage Tips

Refinancing a home loan can provide numerous benefits, but it can also seem daunting and intimidating to some. Many homeowners would love to lower their interest rate or take advantage of other benefits associated with refinancing, but they are concerned about the time and expense associated with refinancing their current mortgage. The FHA Streamline Refinance loan program is designed to provide those who currently have an FHA loan with an easier way to refinance their mortgage, and this may be a desirable option for many. No Appraisal Needed One common complaint that people have when applying for refinancing relates to…

25 May 2022

By Tawnya King

Saving Up for Your Down Payment? Try These Money-saving Tips to Speed Things Up

Home Mortgage Tips

One of the most significant challenges that many people face when preparing to buy a first home relates to saving money for a down payment. While there are many different loan programs with varying down payment requirements, the fact is that it can still be difficult to save up a large sum of money. Some programs may require you to save as much as 10 percent or 20 percent of the sales price of the home. You can employ a few different tips and techniques to save money for a down payment more quickly, and these are some of the…