08 Dec 2022
By Mark Feder

A Step-by-Step Guide to Refinancing a Traditional Mortgage to a FHA Mortgage

Home Mortgage Tips
Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial goals and more. Those who are interested in refinancing in an FHA mortgage may consider these steps. Understand the Rules and Requirements There are specific rules in place regarding refinancing under the FHA program. For example, the loan amount may be up…
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06 Dec 2022
By Mark Feder

5 Ways That a Mortgage Can Be a Huge Benefit to Your Financial Future

Home Mortgage Tips
For many people, investing in a house is one of the most important purchases they will make in their lifetime. However, alongside having the comfort of your own home, there are many financial benefits associated with buying in. If you're currently perusing the market for opportunities, here are some reasons to consider investing a little sooner. Get Away From Inflation If you have an adjustable-rate mortgage, your interest rates will certainly fluctuate from time to time, but owning a home actually allows you to guard against the reality of inflation, which can be a significant burden as a renter. While…
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02 Dec 2022
By Mark Feder

Understanding ‘PITI’ and What Goes in to Your Monthly Payments

Home Mortgage Tips
Ask any friend or family member that owns a home and they will share that it takes a bit of management to keep all the expenses under control. Let's explore the concept of PITI and why it is vital to have a clear picture of how much your home is costing you each month. Just What Is PITI, Anyway? PITI is an acronym that stands for "principal, interest, taxes and insurance," which are the four main components that make up your housing costs. Principal - this is the amount that you are paying against the total amount that you borrowed…
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18 Nov 2022
By Mark Feder

3 Ways That a Reverse Mortgage Can Transform Your Retirement

Home Mortgage Tips
Are you a retired individual looking for ways to increase your financial security? If so, you may have heard of a home equity conversion mortgage, more commonly known as a reverse mortgage. Used correctly, this is one of the most effective financial products for retirees who own their home. Let's explore three ways that a reverse mortgage can help to transform a dull retirement into one filled with excitement. It's All About Flexibility The primary benefit that one receives with a reverse mortgage is financial flexibility. It is an excellent way to tap into the equity that has built up…
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