The one good outcome of the economic chaos surrounding the pandemic is some of the lowest interest rates we’ve seen in a long time. But before you rush to refinance your home, there are three things to consider. Do the Math Yes, the interest rates are historically low, but they might not be low enough

We know, there are so many things to learn and think about before buying your first home. So, we thought we’d simplify things and give you a Do and Don’t list. Don’t … Shop Too Soon You need to apply for a mortgage before you do anything else. Since there are few homes on the

Staying healthy isn’t the only concern these days. The coronavirus is also affecting our wallets. We want our members healthy and to keep your financial stresses at a minimum, so here are a few tips to help. Keep Your Savings Safe – Some people panic during stressful times and want to withdraw all their savings.

Chances are, if you’ve listened to your parents you’ve been instructed that you need at least 20% down when buying a home. You’re not alone. According to a Sallie Mae survey, nearly 50% of renters think they need 20% down to buy a home. The good news is you’re much closer to becoming a homeowner

One is often not enough, but how many credit cards are too many? Is there a magic number of credit cards that will help, not hurt, your credit score? Your credit score is based on many factors and can be affected by numerous things. It all comes down to ratios. Credit agencies look at what

From picking neighborhoods and school districts, to dealing with down payments and home inspections, there are a lot of choices homebuyers need to make. A major decision, one that will affect your finances for years, is what kind of mortgage to get: fixed or adjustable rate.  The most popular type of mortgage is fixed-rate, which means

Private Mortgage Insurance (PMI) When purchasing a home, there are many different costs to factor into a budget. While many people are aware of expenses like taxes and the cost of making repairs, there are some costs that people don’tthink about, such as Private Mortgage Insurance (PMI). PMI is an additional monthly expense added to your

The thought of buying your first home can be thrilling – and intimidating. Whether you’ve just started the homebuying journey or you’re in the middle of the process, we’ve got some tips to help you along the way. These tips can be a refresher if this isn’t your first time house-hunting as well.  Down PaymentIt

Believe it or not, you’ll need more than just a pile of cash to make your first (or second, or third) home purchase. There are other non-monetary assets that you’ll need in order to qualify for a home loan with the lowest interest rate. Add these five assets to your list of things to have

Although the terms sound interchangeable, they represent two different stages in the home loan application process. If you begin looking at houses when you are pre-approved but not pre-qualified, you could fall for a house you can’t truly afford, or you’ll lose out to another buyer who is further along in the mortgage and buying