11 Jun 2015
By Mark Feder

The Pros and Cons of Using Spare Funds to Pay Your Mortgage Down Faster

Home Mortgage Tips
A home mortgage payment can be a large or even the largest expense in a person's budget, and not having this payment any longer can be a life changing experience. Because of this, you may be dreaming about the day when you no longer have to make this payment. Some people may even actively make extra payments to their mortgage in order to pay the outstanding balance off more quickly. These may be funds from an IRS tax refund, cash received from the holidays or a birthday or some other windfall. Before you make the decision about whether to use…
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09 Jun 2015
By Mark Feder

First-time Mortgage Borrowers: Avoid These “Rookie Mistakes”

Home Mortgage Tips
Many home buyers who are applying for their first mortgage will go to great lengths to research the options, learn more about loan terms and generally educate themselves about a process that they are unfamiliar with. Despite these common steps that rookie mortgage applicants make, they often make similar mistakes when applying for their first mortgage. By learning about these common mistakes, you can take steps to prevent making them yourself. Not Focusing on All Costs of Home Ownership Many first-time home buyers are overwhelmingly focused on setting up a mortgage payment that is affordable for their budget. While this…
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04 Jun 2015
By Mark Feder

Which is Better: Bi-weekly or Monthly Mortgage Payments? Let’s Take a Look

Home Mortgage Tips
When you apply for a new mortgage, your lender may ask if you want to set up monthly payments or bi-weekly payments. At one time, monthly payments were common, but bi-weekly payments are increasing in popularity. This is because they break a large expense up into two smaller and seemingly more manageable payments. In addition, you can also make what equates to a full extra payment on the mortgage each year with a bi-weekly payment structure. Before you decide which is best for you, consider a few factors. Your Personal Budget Many people may believe that if they get paid…
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02 Jun 2015
By Mark Feder

An Insider’s Guide to Fannie Mae’s HomePath Program and Closing Cost Assistance

Home Mortgage Tips
Home buyers today may be concerned about finding the perfect home to purchase, but they are also often concerned with the process of applying for a mortgage. The loan application process itself may seem daunting, but many are concerned about finding a great deal on their mortgage. This may include getting a great interest rate and finding a program with low closing costs. The Fannie Mae HomePath program and closing cost assistance program is a beneficial option for many, and you may benefit from learning more about it. What Is This Program? The Fannie Mae loan program has been around…
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