Buying a house is exciting. It is also very expensive. Long before you start shopping or fill out a mortgage application, you need to save money. This money pays for the down payment. Conventional loans offer the best terms for those who put down at least 20 percent of the price of the home. This is not reality for many people, though. Luckily there are other programs … [Read more...] about How to Save for Down Payment on a House
You have equity in your home and you want to use it. While there may be a program that allows you to tap into that equity, it’s not always the right choice. Before you jump in and take the equity out of your home, learn which uses are best for your equity and which are best left alone. Get Matched with a Lender, Click Here. Renovate Your Home Perhaps the best reason to tap … [Read more...] about Smart Ways to Use your Cash-Out Refinance Proceeds
Home equity loans are making a comeback as home values rise again. This time around, though, lenders have stricter requirements. You’ll find that you have to verify your income and assets much more thoroughly than in the past. Compare Offers from Several Mortgage Lenders. This doesn’t mean a HELOC is hard to come by, though. Before you jump on board, consider the … [Read more...] about The Biggest Mistakes To Avoid with Home Equity Loans
$1.36 trillion. That’s the nationwide student loan debt level as of the third quarter of 2017. One solution to eliminate this debt hits a little close to home. Around this time last year, Fannie Mae and SoFi teamed up to offer cash-out refinance loans to homeowners with student loans. Cash-out refinancing generally works to consolidate the student loan debt with the mortgage … [Read more...] about Should You Consolidate Your Student Loan Debt With Your Mortgage?
When you are drowning in credit card debt, it can seem very enticing to consolidate all of that debt into your mortgage, giving you one payment every month and lower interest rates. For many people this is a good alternative to paying the minimums on large amounts of credit card debt. For some though, it is not the right choice or it may even be impossible due to the stricter … [Read more...] about When Does it Make Sense to Consolidate Credit Card Debt with your Mortgage?