As we close out the third quarter of 2022, mortgage rates have hit a 20-year high. The 30-year rate on fixed-rate mortgages sits at just over 7% now. If you need to buy a home or refinance your current mortgage, what can you do to save on your mortgage right now? Let’s explore some money-saving… Continue Reading
In the previous two articles, we discussed how to qualify for a mortgage on investment properties and loan-to-value (LTV) requirements for investment property. In this article, we discuss the 3 main differences between buying an investment property and buying an owner occupied property. When buying an investment property, make sure you understand the limitations on… Continue Reading
Let’s say you’re buying a house or refinancing and you need PMI. What are your options (besides putting down 20%)? Take Two Mortgages to Avoid PMI That’s right. If you take two mortgages that add up to 90% or 95% (remaining 5-10% is your down payment), you can avoid paying PMI. How? Because your first… Continue Reading
Let’s say you’re about to buy a house. You’re at a family barbecue on the weekend. The sun is out, the kids are running around, there’s burgers on the grill. Your older brother comes up to you and asks if you found a lender yet. You tell him you got some quotes, and they’re all… Continue Reading
If you’re in the housing market for the first time, the mounting cost of everything can get pretty overwhelming, even if you’ve been saving carefully. After all, everybody knows to save five to 10 percent of our dream home’s cost for a down payment, but fewer people know that we need to be saving another… Continue Reading