13 May 2015
By Mark Feder

Saving Up for Your Down Payment? Try These Money-saving Tips to Speed Things Up

Home Mortgage Tips
One of the most significant challenges that many people face when preparing to buy a first home relates to saving money for a down payment. While there are many different loan programs with varying down payment requirements, the fact is that it can still be difficult to save up a large sum of money. Some programs may require you to save as much as 10 percent or 20 percent of the sales price of the home. You can employ a few different tips and techniques to save money for a down payment more quickly, and these are some of the…
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12 May 2015
By Mark Feder

Mortgage 101: the Basics of How Mortgage Refinancing Works

Home Mortgage Tips
Refinancing your home mortgage can be beneficial for you for a number of reasons. As a homeowner, you may have spoken with some of your friends and neighbors who have already refinanced, and you may have heard about some of the different benefits associated with refinancing your mortgage. For example, refinancing can result in a lower mortgage payment, the ability to pay your mortgage off more quickly, reduced interest charges and other benefits. If you have never gone through this process yourself, however, you may not know what to expect with the refinancing process. Determining if Refinancing Will Benefit You…
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07 May 2015
By Mark Feder

Understanding Lower FHA Mortgage Insurance Premiums and How They May Help You Save Money

Home Mortgage Tips
FHA loans are designed to help individuals take advantage of the benefits of home ownership, and these loans have low down payment requirements. However, for borrowers who choose to make a down payment that is less than 20 percent of the sales price, the borrower will be required to pay a mortgage insurance premium with the monthly mortgage payment. This premium is in place to minimize the risk that the lender takes when making a low down payment loan, but it does result in a higher monthly mortgage payment for the homeowner. Recently, the FHA has announced a lower rate…
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05 May 2015
By Mark Feder

Save Some Additional Cash with Our Guide to Lowering Your Monthly Mortgage Payment

Home Mortgage Tips
If you are like many other homeowners, your home mortgage payment is the single largest expense in your monthly budget. This is a fixed expense that you will typically be responsible for until your loan is paid in full or until you sell your home, and you may have a 15, 20 or even 30 year term on your mortgage. If your home mortgage payment has become unaffordable or burdensome for you to manage with your current financial situation, rest assured that you may be able to save some additional cash each month without selling your home. Refinancing your existing…
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