For many, becoming a homeowner is a dream. The chance to build equity, invest in your future, or even paint the walls neon green makes owning a home a top bucket list item. Although renting can provide temporary and convenient housing, owning your own house offers far more financial and personal advantages. So if you’re […]
Whether you are a first-time home buyer or an experienced homeowner, it’s important that you take the time to evaluate your finances and set an accurate budget when looking to buy. If you don’t calculate your monthly costs accurately, you could end up with serious financial hardships in the future. Set yourself up for home-buying […]
Technical Definition of Pre-Approval: A mortgage pre-approval means a loan officer has looked at your finances—your income, debt, assets, and credit history—and determined how much money you can borrow, how much you could pay per month, and what your interest rate will be. So, what exactly is pre-approval? Simply put, pre-approval means that you’ve […]
About Mortgage Interest Rates Federal Rates Mortgage interest rates are dependant on federal interest rates, which the Federal Reserve influences. The aim of the Federal Reserve is to stimulate the economy while avoiding inflation. By setting terms for the federal funds rate (the interest rate which banks charge each other for short-term loans). And the […]