02 May 2024
By Mark Feder

Mortgage Tips for Empty Nesters: Downsizing and Relocating

Homebuyer Tips
So you are soon to be an empty nester! With the kids flown from the nest, it's your time to welcome a new chapter of freedom and flexibility. Whether you're looking to downsize to a cozier space or relocate to your dream destination, navigating the mortgage landscape can seem overwhelming. There is no need to fear! We've got you covered with some invaluable tips tailored to meet the unique needs of empty nesters like you. Assess Your Financial Situation: Before diving into the world of mortgages, take a close look at your financial picture. Consider your retirement savings, investment portfolios,…
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01 May 2024
By Mark Feder

The Role of a Co-Signer in Mortgage Applications: Pros, Cons, and Alternatives

Mortgage Application
Are you dreaming of owning your own home but facing obstacles in securing a mortgage? You're not alone. Many aspiring homeowners encounter challenges due to factors like credit history, income, or debt-to-income ratio. There is a potential solution that could help you achieve your homeownership goals: a cosigner. A cosigner, typically a family member or close friend, agrees to take joint responsibility for a mortgage loan alongside the primary borrower. While this arrangement can offer several benefits, it's essential to weigh the pros and cons carefully before proceeding. Pros of Having a Co-Signer Higher Approval Odds: If you have a…
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30 Apr 2024
By Mark Feder

Choosing Between a Home Equity Loan and HELOC

Mortgage Tips
As a homeowner, tapping into your home equity can be a strategic financial move. Whether you’re renovating your house, consolidating debt, or covering major expenses, two popular options stand out: home equity loans and home equity lines of credit (HELOCs). Understanding the differences between these two can help you make an informed decision that best suits your needs and financial goals. Home Equity Loan: The Lump-Sum Option A home equity loan sometimes referred to as a second mortgage, provides you with a lump sum of money upfront, which you repay over a fixed term with a fixed interest rate. Here’s…
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29 Apr 2024
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 29th, 2024

Financial Reports
At Wednesday's meeting, the Federal Open Market Committee (FOMC) is widely expected to maintain the current federal funds rate target range of 5.25% to 5.50%. This decision comes amidst conflicting economic signals. Tailing that, there is the Chicago PMI, Non-farm Payrolls, and the full release of the Consumer Confidence report. All of these are expected to match current economic conditions. The prior week's GDP numbers also factor into the equation, informing that economic growth has slowed this year compared to the previous year for Quarter 1. The PCE Index, the Federal Reserve’s preferred choice of inflation indicators, has shown inflation is…
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