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…
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31 Jul 2025
By Tawnya King

Should You Get a Mortgage If You Plan to Move Soon?

Mortgage
Deciding to buy a home when you know you might move within a few years can be a challenging choice. Many people wonder if it makes financial sense to take on a mortgage if they will not live in the property long term. The answer depends on several factors, including your personal goals, market conditions, and your financial situation. Consider Your Time HorizonMortgage loans often come with upfront costs such as closing fees, appraisal costs, and sometimes private mortgage insurance. If you plan to move within a year or two, these costs can outweigh the benefits of homeownership. However, if…
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23 Jul 2025
By Tawnya King

The Benefits of Mortgage Rate Buydowns

Mortgage Rates
When purchasing a home, every detail matters, especially your interest rate. One strategy that many buyers overlook is the mortgage rate buydown. A buydown allows you to lower your interest rate for the first few years of your loan, or even permanently, by paying upfront fees at closing. This option can significantly reduce your monthly payments, offering financial relief when you need it most. Types of Mortgage Rate BuydownsThere are two common types of buydowns. A temporary buydown, such as a two one buydown, reduces your interest rate for the first two years. For example, your rate might be reduced…
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18 Jul 2025
By Tawnya King

Could You Save Money by Refinancing Right Now?

Financial Reports
Understanding the Real BenefitsThe most common reason to refinance is to lower your monthly payment by getting a better interest rate. But refinancing can also help you pay off your loan faster, switch from an adjustable to a fixed rate, or tap into your home equity for important expenses. If your credit score has improved, or if your home has gained value, you may qualify for better loan terms now than when you originally purchased. Lower Monthly Payments or Faster PayoffEven a small drop in your interest rate can make a big difference over the life of your loan. For…
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17 Jul 2025
By Tawnya King

The One Number More Important Than Your Credit Score for Mortgage Approval

Financial Reports
When it comes to getting approved for a mortgage, most people immediately think of their credit score. While it is definitely important, there is another number that can play an even bigger role in your approval, our debt-to-income ratio. Also known as DTI, this number gives lenders a clearer picture of your ability to manage monthly payments and overall debt. What Is Debt-to-Income RatioYour debt-to-income ratio is the percentage of your monthly gross income that goes toward paying debts. This includes things like credit cards, car loans, student loans, and the projected mortgage payment. It does not include groceries, utilities,…
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16 Jul 2025
By Tawnya King

How to Talk to Your Parents About Co-Signing a Mortgage

Financial Reports
Asking your parents to co-sign a mortgage can be one of the most vulnerable conversations you will ever have. It is not just about paperwork and finances, it is about trust, timing, and long-term commitment. Whether you are a first-time buyer or trying to qualify for better loan terms, a co-signer can make a big difference, but only if everyone involved is fully informed and comfortable. Understand What Co-Signing Really MeansBefore bringing it up, make sure you understand what co-signing a mortgage involves. A co-signer is not just offering moral support, they are legally agreeing to repay the loan if…
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13 Jun 2025
By Tawnya King

Creative Strategies for Saving on Closing Costs

Mortgage Tips
When you are budgeting for a new home, it’s easy to focus on the down payment, but do not forget the closing costs. These fees typically range from 2% to 5% of the home’s purchase price and cover things like the appraisal, title search, loan origination, and other administrative expenses. For many buyers, especially first-timers, they can feel like an unwelcome surprise. The good news? There are creative, effective ways to reduce these expenses and make homeownership more affordable. 1. Negotiate With the Seller In a buyer-friendly market, you may be able to negotiate for the seller to cover part…
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