21 Apr 2015
By Mark Feder

The Pros and Cons of Putting in More Than 20 Percent as a Down Payment on Your New Home

Home Mortgage Tips
One of the most common questions home buyers ask today relates to how much money they need to put down on a home. There are mortgage requirements in place that establish minimum down payment requirements, and some home buyers will barely have enough to pay the minimum down payment as well as closing costs. However, if you have access to more money, you may be wondering if you should make a larger down payment. There are several points to consider to determine if making a larger down payment is right for your financial situation. Having Liquid Assets Available After Closing…
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15 Apr 2015
By Mark Feder

You Ask, We Answer: How Often Should I Refinance the Mortgage on My House?

Home Mortgage Tips
Refinancing a home mortgage can provide you with an incredible range of benefits. These include everything from reducing your mortgage term and lowering your payments to helping you more effectively build equity or pulling equity out to use for beneficial purposes. One common question that many homeowners ask is how often a mortgage should be refinanced. While there are benefits associated with mortgage refinancing, there are also some points to consider before you rush into the process. Think About Refinancing Costs First, remember that each mortgage application will come with refinancing costs. These costs can equate to thousands of dollars…
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14 Apr 2015
By Mark Feder

Suffering from Credit Problems? Understanding Mortgage Lenders and How They Assess Your Credit

Home Mortgage Tips
One of the most significant factors a mortgage lender will review when you apply for a new mortgage loan is your credit history and rating. While some people have stellar credit, others have a troubled credit history with lower scores. If you fall into the latter scenario, you may be wondering how lenders will assess your credit situation when you apply for a mortgage in the near future. Reviewing Your Credit Scores Initially, lenders will review your credit report to determine your credit scores. Your scores will have a direct impact on the interest rate that you qualify for or…
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07 Apr 2015
By Mark Feder

How Does Making Lump Sum Payments Affect Your Mortgage? Let’s Take a Look

Home Mortgage Tips
Periodically, many homeowners will receive a rather sizable amount of extra cash. This may be from a bonus from your employer, a refund on your tax return, a financial gift from a relative or something else altogether. While there are many things that you could do with your windfall, you may be wondering if paying down your mortgage balance is a wise idea. Before you make your decision about how to spend your money, consider what impact your lump sum payment will have on your mortgage. Reduction in Principal Balance The most obvious impact a lump sum payment will have…
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