Buying Mortgage Points

If you’re buying a house for the first time, you might come across items you’re unfamiliar with. Items like Private Mortgage Insurance, FA vs. Conventional Loans, or what is included in the closing costs. Paying mortgage…

3 Steps to Refinance without Increasing Your Loan Balance

Step 1 – Choose a No-Cost Loan The first step is to choose an interest rate that has $0 fees which will equate to zero closing costs. This is what we term a “no-cost loan”.…

Everything You Need to Know About Closing Costs

What Are Closing Costs? Closing costs are the various fees you pay your lender or third parties for creating, processing, and underwriting the loan. These fees cover items like a home appraisal, title insurance, and…

Using your mortgage for debt consolidation

According to the Federal Reserve Bank of New York, Americans have a total credit card debt of $925 billion. That’s up $38 billion compared to the first quarter of 2022. This doesn’t include student loans, auto…

When Should I Lock In My Mortgage Rate?

Rate Lock Overview Although they are a crucial part of the home buying process, mortgage rate locks can be complicated for first-time buyers. Everything you need to know about mortgage rate locks, including what they…

Understanding Private Mortgage Insurance

Private mortgage insurance (PMI) is a type of protection that helps protect lenders’ investments but doesn’t protect borrowers against losing their homes if they can’t make their monthly payments. The good news is that most…

Primary Residence vs. Investment Property vs. Secondary Home

When you apply for a mortgage, your lender will ask if this property will be your primary residence, a second home, or an investment property. Your answer will determine what mortgage rate you get, who…