Mortgage Tips

Simple tips to help you save money on your mortgage.

Do You Need 20% Down to Buy a House?

Do You Need 20% Down to Buy a House?
April 10, 2017 1 Comment »

It’s been some time since I’ve done mortgage Q&A, so without further delay, let’s explore the following question: “Do you need 20% down to buy a house?” If you chat with anyone older than 50 (maybe 60), they’ll probably tell ... Read More »

Is It Really Such a Great Time to Sell a House?

Is It Really Such a Great Time to Sell a House?
April 6, 2017 No Comments »

We’ve heard it for years now – that it’s a seller’s market. And it’s hard to argue that fact with home prices hitting new nominal highs in many states across the nation, month after month. If you’re a seller these ... Read More »

An FHA-to-Conventional Refinance May Allow You to Ditch MIP

An FHA-to-Conventional Refinance May Allow You to Ditch MIP
April 5, 2017 No Comments »

While refinance applications seem to be taking a backseat to purchase applications, there are still some good reasons to refinance your mortgage, even if rates aren’t currently at their best. First off, let me preface this with the fact that ... Read More »

The 5/5 ARM Is an Adjustable-Rate Mortgage for the Faint of Heart

The 5/5 ARM Is an Adjustable-Rate Mortgage for the Faint of Heart
March 6, 2017 No Comments »

There’s a popular new loan in town that a lot of credit unions seem to be offering known as the “5/5 ARM,” which essentially replaces the more aggressive 5/1 ARM that continues to be the mainstay at larger banks and ... Read More »

Pay Down Your Debts Before You Apply for a Mortgage to Increase Purchasing Power

Pay Down Your Debts Before You Apply for a Mortgage to Increase Purchasing Power
February 23, 2017 1 Comment »

With home prices (and interest rates) on the rise, it’s getting more and more difficult to qualify for a mortgage. One simple strategy you can employ to boost your purchasing power is to pay down existing debts. I’ve already warned ... Read More »

2017 Mortgage Rates Are Expected to Stay in the 4% Range

2017 Mortgage Rates Are Expected to Stay in the 4% Range
January 31, 2017 No Comments »

Before you panic, take comfort in the fact that mortgage rates probably won’t do too much in 2017, just as they haven’t in recent years, despite stark predictions telling us otherwise. I went ahead and compiled the 2017 mortgage rate ... Read More »

Would You Rather Have a Low Mortgage Rate or Pay a Lower Price for a Home?

Would You Rather Have a Low Mortgage Rate or Pay a Lower Price for a Home?
January 18, 2017 1 Comment »

My friend asked me the other day if I’d rather have a low mortgage rate or pay a lower price for a home. I paused briefly, then said I’d rather pay less for the home. My thought process was basically ... Read More »

2017 Mortgage and Real Estate Predictions

2017 Mortgage and Real Estate Predictions
December 28, 2016 2 Comments »

Well, another year has passed, and not just any year. Some have referred to 2016 as the worst year ever, though I’m a little more optimistic. Anyway, it’s time to look forward to see what the future holds for mortgages ... Read More »

Is the 30-Year Fixed Mortgage Actually a Lot of Work?

Is the 30-Year Fixed Mortgage Actually a Lot of Work?
December 5, 2016 No Comments »

I typically refer to the 30-year fixed mortgage as a set-it-and-forget-it type of mortgage because it’s fixed for the entire duration of the loan. The mortgage rate in month one is the same as the rate in month 360. The ... Read More »

Is Now the Time to Slow Down Mortgage Repayment?

Is Now the Time to Slow Down Mortgage Repayment?
December 1, 2016 No Comments »

Now that mortgage rates have jumped, it might be time to take a look at how you’re repaying your mortgage. Put simply, if your mortgage rate is fixed and lower than prevailing rates, it could make sense to slow things ... Read More »