Increase in U.S Mortgage Rates after the Presidential Election

Mortgage Rates Calculation

A week following the election, mortgage rates soared sharply. It is believed that the housing rates will get even higher in 2017. It’s because the housing rate is closely tied to the stock market. When there is an inflation in the stock market, the mortgage rates also goes up. And we all know that there … Read more

Republican Party: How Will The Republican Tax Plan Impact the Housing Industry?

Tax Form with calculator | Tax Plan

On November 2, 2017, the Republican Party unveiled it’s tax plan, and some of the most interesting aspects of it relate to the housing industry. There are three key points to consider: A reduction in the amount of mortgage interest that can be deducted. A property tax deduction cap. Capital gains exemption limits which are … Read more

Here’s Why Student Loan Debt No Longer Prevents You from Buying a Home

graduation hat over dollar bills | resembling student loan

According to research by the Federal Bank Reserve of New York, student debt is one of the main reasons for the drop in homeownership in the U.S. amongst millennials. As of Q2 in 2017, student loan debt is $1.45 trillion compared to $549 billion in Q2 of 2007. In fact, student debt has tripled in … Read more

How to Pay off Your Mortgage Quicker

Your mortgage is something you have to pay off each month for decades, right? Not so fast. Many homeowners are using a hack to pay off their mortgage quicker and devote more of their income to saving for retirement. Here’s what you need to know about the effectiveness of bi-weekly payments. Are Bi-Weekly Payments a Good Idea? … Read more

5 First Time Home Buyer Mistakes That Could Cost You Everything

First-Time Home Buyer Couple estimating and calculating their affordability

You may finally feel that now is the time to step onto the property ladder but wait! You have to make sure that you’re 100% ready or risk losing it all later down the line. The good news is that the rate of foreclosures has dropped significantly. According to Business Insider, foreclosures were at their … Read more

Is Now A Good Time to Buy?

Happy Family on Floor After Buying a New Home

2016 was a fairly good year for the housing industry. Despite builders not producing enough homes, national prices crossed the previous 2006 peak, mortgage rates remained historically low, and the Millennial generation finally began to enter the market. The effects the recent election will have on the market are yet to be determined, but that … Read more

Mortgage Application Checklist Defined

Definition of Mortgage Application Checklist All mortgage lenders need paperwork which verifies all of the aspects of your financial life including assets, debts, and so on. A lender will request a number of documents for this purpose. This is precisely what a mortgage application checklist is all about. Here are some of the things you can … Read more

What is a Conventional Loan?

Definition of Conventional Loan A conventional loan is a type of mortgage, but not insured or guaranteed or backed by the FHA or any governmental agency for that matter. The rate and terms are pre-defined and fixed. Purpose There comes a time in all our lives when you would be considering taking a loan from … Read more

Fool Proof 2016 Home Buying Guide

Buyers looking for a home in 2016 are looking at a sellers’ market, but with proper planning, finding the right home at the right price is still possible. The best advice for 2016? Do not wait to begin your search; compare and contrast your mortgage options; do not rule out buying new; and consider relocating … Read more