24 May 2017
By Mark Feder

Thinking About a Second Mortgage on Your House? Here’s What You Need to Know

Home Mortgage Tips
Whether it's to consolidate debt or make funds available for a home renovation, many people consider a second mortgage in order to make it possible to pursue other options. However, like any important financial decision, it's important to be informed about the financial implications before diving in. If you're currently weighing your mortgage options and are considering a second mortgage, here are some things to do before the final decision. Research The Lenders Since a second mortgage means that you'll be borrowing against the value of your home, it's especially important to do your research the second time around and…
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19 May 2017
By Mark Feder

The 10-year Mortgage: Why a Shorter Amortization Period Can Be Your Best Option

Home Mortgage Tips
From 'down payment' to 'adjustable rate' to 'debt-to-income' ratio, there are so many terms involved in the mortgage process that it can be hard to learn them all and keep them straight. However, whether or not you've heard it, the term 'amortization period' might be one of the most important ones associated with your financial well-being. If you're currently considering the period of loan you should choose, here are some things to think about before taking on a term. What Is Amortization? Used to refer to the length of time it takes to pay off your mortgage loan, a typical…
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12 May 2017
By Mark Feder

You Ask, We Answer: What Are the Pros and Cons of Private Mortgage Insurance?

Home Mortgage Tips
It's easy to get Private Mortgage Insurance (PMI) confused with homeowners' insurance, but PMI is an entirely different thing that may or may not be necessary when it comes to your home purchase. If you're going to be investing in a home in the near future and are wondering what PMI may mean for you, here are some things to consider regarding this type of insurance. Your Down Payment Amount If you've been perusing the housing market for a while, you've probably heard that 20% is the ideal amount to put down when investing in a home; however, you might…
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11 May 2017
By Mark Feder

3 Classic Credit Mistakes to Avoid If You’re Trying to Secure a Mortgage Loan

Home Mortgage Tips
The mortgage application process can be fraught with a lot of stress on its own, but if you've experienced issues with your credit in the past it can be even more taxing. While there may be a lot of things you may not be aware of when it comes to their impact on your credit, here are some things to watch out for if you're planning on purchasing a home in the short-term future. Applying For Extra Credit Whether you've just been offered a great new deal by a department store or you're not even thinking about it, new credit…
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