Mortgage News and Rate Updates

Breaking It Down: Understanding Your Home Closing Costs

Breaking It Down: Understanding Your Home Closing Costs

By Tim Coutis / January 25, 2023
Posted in ,

When you’re a first-time homebuyer, the entire concept of closing costs may be elusive and intimidating. You know they’re coming, but you have no idea what to expect. Luckily, a little knowledge can go a long way. Fees for loan…

Read More
Closing Costs: How much should you expect to pay

Closing Costs: How Much Should You Expect to Pay?

By Aly Yale / January 4, 2023
Posted in

Closing costs can be confusing.

Not only do they cost you an additional few thousand dollars come closing day; they also cover fees and expenses you’ve likely never heard of, making them even more perplexing for a first-time buyer.

Read More
What is PMI?

What Is PMI?

By Aly Yale / December 14, 2022
Posted in

Maybe you’ve heard the term thrown around by your lender or loan officer, you’ve spotted a “PMI” line item on your closing disclosure, or you’re seeing “PMI” on your escrow statements. Whatever the reason, you want to know: what is…

Read More
What Does a "Cash Out" Refinance Mean?

What Does a “Cash Out” Refinance Mean?

By Aly Yale / October 12, 2022
Posted in ,

You’ve probably heard the term “cash-out refinance” before. Maybe your neighbor used one to pay for their new deck or your sister took one out to cover your nephew’s first year of college tuition. Whatever the reason, you know that…

Read More
Sliding levers on a sound mixing board

Adjustable Mortgage Rates – Pros and Cons

By Austin White / October 12, 2022
Posted in ,

With home loan interest rates at an historic low, many people are rethinking the adjustable rate mortgage. This type of mortgage rate, which is commonly abbreviated as ARM, comes in a few different flavors. Unlike fixed mortgage rates, they fluctuate over time. The majority of homeowners – roughly seven out of ten, according to Bankrate.com – prefer fixed rates for this reason. Although they have traditionally gotten a lot of bad press, ARMs might be worth a second look. At the very least, it is good to familiarize yourself with the pros and cons of the adjustable rate mortgage.

Read More
Renting to Own: How to Transform Rent Payments into a Mortgage

Rent to Own Mortgage: How to Transform Rent Payments into a Mortgage

By Aly Yale / September 7, 2022
Posted in ,

Why pay rent toward someone else’s mortgage when you could put that cash toward your own? That’s exactly the thought behind renting to own agreements, which let you rent a property, apply a portion of your rent costs toward the mortgage…

Read More
tips for first time sellers

Tips for First-Time Sellers

By Tara Mastroeni / August 3, 2022
Posted in ,

There are plenty of tips to be found for first time homebuyers, but what about for tips first time home sellers? In an effort to bridge the information gap, we’ve provided five tips for first time home sellers below. Read…

Read More
What to know if you get married and already own a home

What to Know If You Get Married—And Already Own a House

By Aly Yale / June 22, 2022
Posted in ,

It’s one thing if you get married and then buy a home. But what happens if you do the opposite, and buy a home before tying the knot? Do you need to put your new wife or husband on the…

Read More
How much can I afford if I'm self employed?

How Much Mortgage Can You Afford If You’re Self-Employed?

By Jon Clark / June 1, 2022
Posted in

Estimating how much of a mortgage you might qualify for is a relatively easy process with online mortgage affordability calculators. You simply plug in your income and debt obligations and, poof, the calculator will spit out an estimate of how…

Read More
Sorry we're not closed sign

The Repercussions of a Mortgage Not Closing on Time

By Mary Mack / May 25, 2022
Posted in ,

You’ve worked hard for years, saved up the down payment, and have finally found your perfect dream home. And now that you have your offer accepted and are in escrow, you’re ready to sign on the dotted line and close…

Read More