Biweekly Mortgage A biweekly mortgage is a mortgage for which one-half payment is made every other week instead of a “full payment” made once per month. The homeowner makes 13 payments per year instead of the usual twelve, which accelerates the loan’s payoff schedule by approximately 6 years. ? The “Regular” Mortgage: 12 Payments Per […]
How Much Home Can I Buy? One of the most common questions a first-time home buyer will ask is “How much home can I afford?” The answer, as we will tell you, is that “it depends”. There are no fixed set of rules for how much home you can afford, or how big your mortgage […]
With the real estate market steadily improving, more and more first time buyers are purchasing homes and qualifying for mortgages. Have you been thinking about buying your first home? HomeWay Mortgage has put together a few tips to help you begin your journey to home ownership. Affordability. One of the most important things you can […]
One of the most complicated decisions you will likely make concerning your home mortgage will be which lender to choose. Today there are several mortgage lenders out there ready to accept your loan application. But just because a lender accepts your application doesn?t mean it?s the right deal for you. Since you?ll likely be associated […]
When you get a mortgage, the lender usually adds real estate taxes and insurance premiums to the monthly house payment. The lender sets aside this money in what is called an escrow account (sometimes it’s called an impound account). An escrow account ensures that the taxes and insurance will be paid on time. This protects […]
Many of our clients ask, “Do you really need to use a Realtor to purchase a home?” ?My response is, ?Would you perform surgery on your own tooth or would you go to a dentist? ?You are purchasing the most expensive item in your entire life and you should utilize a professional.” Navigating a real […]
New to the home buying process? Curious about all of these different loan types you heard your friends and family talk about? No worries, we got you covered.? Below you will find a quick overview of the most talked about loans. Education is the key to making smart decisions, as a home buyer or mortgage […]
You?ve finally found it: a home you can?t wait to buy it and move into. From the exposed ceiling beams to the hardwood floors, this feels like the place. So what?s next? Don?t just stand there dumbstruck; it?s time to dig deeper and ask questions?and not just the kind that randomly pop into your head, […]
When Does it Make Sense to Refinance? There are times when it is advantageous to refinance your home after you have taken out a loan to purchase your property. Here are some of the reasons why you should or shouldn?t refinance and when to do it: Securing a Lower Interest Rate One of the best […]
A great milestone of your financial life is the purchase of your first home.? While less exciting, the tax implications of that achievement are no less critical.? After all, home ownership creates several new opportunities for you to save on your taxes. ?Got your attention? Mortgage Interest Deduction That big fat mortgage payment you now […]