Lending

Using Your Home Equity Line of Credit (HELOC)

With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial […]

Does Renting Make Sense in Today’s Market?

Red sign that reads "for rent" hanging from white post in landscaped front yard

Last week we discussed principles to abide by when thinking of purchasing a home. First, a quick review of the key points: Establish a cash reserve for unforeseen expenses. Prioritize your savings. DO NOT exceed 28% of gross income AFTER SAVINGS on your mortgage payment. This week, I want to discuss why renting may be […]

Are You Planning to Purchase a Home?

row of colorful shotgun style houses on tree lined street in afternoon sunlight

In the late Fall of 2021, the 30-year fixed-rate mortgage at below 3% offered cheap financing for borrowers looking to purchase, or refinance, a home. However, while the cheap financing seemed like a blessing, the acceleration in home prices was the devil in disguise. Fast forward just a few months, and we see 30-year fixed-rate […]

Financing a Home is Easier than Ever!

There is nothing more satisfying than making an investment for your future. One of the most important investments you will make in your life is when you buy a house. When purchasing a home, loans rates are typically less expensive if the home is financed under a conventional loan with mortgage brokerage companies like Fannie […]

Borrow on a 30-Year Mortgage and Invest the Difference?

On the popular social media site, Tik Tok, a recently circulated video has gained a lot of notice.  Its premise is that a smart financial move is to take out a 30-year mortgage on your home instead of a 15-year mortgage and invest the difference.  The video distinguishes between a 15- year mortgage and a […]

Conventional Home Loans Getting Cheaper

row of colorful shotgun style houses on tree lined street in afternoon sunlight

In December of 2020, Fannie Mae and Freddie Mac, the two largest government-controlled mortgage companies, which purchase half of all mortgages in the US, applied an additional 0.5% fee to all of their conventional loan purchases.  The fee, intended to reduce Covid-19 and the housing market risks, added approximately $1,400 in costs to an average […]

Low Mortgage Rates: Love Them Or Hate Them

According to a leading measure of U.S. residential real estate prices, the S&P CoreLogic Case-Shiller Home Price Index, home prices rose 11.2% year over year in January.  With a limited supply of new homes on the market, increased demand from ultra-low interest rates, and stay-at-home dynamics due to Covid-19, the conditions are perfect for higher […]

Mortgage Rates: Time To Revisit

COVID has permeated our lives to such a degree that it is easy to miss significant opportunities that are right in front of you. Currently, one of the biggest opportunities is historically low mortgage interest rates. In March of this year, 30-year mortgage rates dropped to an all-time low of 3.25%. The 15-year fixed-rate was […]