Mortgage rates have spiked 0.5 percent since the U.S. presidential election earlier this month. On a 30-year fixed loan of $300,000, this increases your monthly payment by $85. If you were waiting to refinance, this is a wake up call, and if you plan to buy a home, it’s time to reevaluate your budget – because
Mortgage rates have spiked 0.5 percent since the U.S. presidential election earlier this month. On a 30-year fixed loan of $300,000, this increases your monthly payment by $85. If you were waiting to refinance, this is a wake up call, and if you plan to buy a home, it’s time to reevaluate your budget – because
By Elizabeth Weiss Living paycheck to paycheck is not uncommon for many homeowners. And sometimes, when you find yourself in a bind and you’re struggling to make the next mortgage payment, you may be tempted to try to skip a payment, thinking you can repay it later once you get back on track. But a passive
By Elizabeth Weiss Living paycheck to paycheck is not uncommon for many homeowners. And sometimes, when you find yourself in a bind and you’re struggling to make the next mortgage payment, you may be tempted to try to skip a payment, thinking you can repay it later once you get back on track. But a passive
You may never have heard the terms transactor or revolver in relation to your credit habits. But if you’re hoping to qualify for a mortgage someday, your credit-paying habits, viewed over time, could be used by lenders to estimate how likely it is you’ll repay your loan. This could make a difference in the terms
By nature all tiny homes are small, but that is often where their similarities end. With a variety of styles, amenities, and differing levels of quality on the market, the cost of living in one of these diminutive abodes can be as diverse as the houses themselves. A tiny home can be a permanent structure or
Buying a tiny house is a huge undertaking – particularly from a financing perspective. Tiny house hunters are typically looking for homes that range from 100 to 500 square feet. Many of these home buyers are millennials, who don’t want the hassle of maintaining a large house, says Matt Parker, a real estate agent in
Recently, negative headlines have appeared about how banks “cross-sell” you additional products and services. But cross-selling isn’t always bad for consumers – and, in fact, when it comes to mortgage cross-selling, there are some compelling benefits. Here’s a look at what cross-selling is, and how to know when it can help or hurt your finances. What is cross-selling?
You’ve made an offer on a property, the seller has accepted, and maybe you’re about to sign a contract. Now it’s time to put some money down to show that you’re serious about moving forward. The amount of money a buyer puts down (and when it’s put down) varies by state and local market. For
Home shoppers eager to qualify for a mortgage could get turned down because of a number they’ve never heard of: their debt-to-income ratio (DTI). If you’re a bit hazy on DTI, you’re in good company. According to Fannie Mae’s Economic & Strategic Research (ESR) Group, more than half of consumers surveyed weren’t sure what it