Are you thinking about buying a new house, condo or apartment? Whether you are upgrading, downsizing or investing, if you intend on borrowing the funds you'll need to be pre-approved for a mortgage. In today's blog post we'll explore mortgage pre-approval and why this should be one of your first steps in buying a new home. Pre-Approval Helps To Determine Your Budget Do you know your budget? Mortgage lenders consider many factors when deciding how much they are willing to lend to a home buyer. While your employment status, salary, assets and credit rating are important, they are all pieces of a … [Read More...]
Fixed mortgage rates rose by two basis points last week as the average rate for a 5/1 adjustable rate mortgage dropped by two basis points. Construction spending returned to positive territory, but job growth dropped in public and private sectors. National unemployment was lower. Construction Spending Rises in August Builders increased construction spending in August after July's reading dipped lower than June's reading. Construction spending rose by 0.50 percent in August, which exceeded expectations of a 0.40 percent increase and July's reading of -1.20 percent. Higher construction … [Read More...]
The kids are heading back to school, the leaves are starting to turn and the weather is getting cooler. Yes, autumn has arrived, but the end of summer does not mean that your home décor has to suffer. Let's take a look at a few ways that you can brighten up your home and give it that warm, autumn feeling. Start With Oranges, Yellows And Light Browns A quick walk through your local neighborhood will offer a good sense of the color palette that you should be using in your décor makeover. In much of the country, trees will be turning a variety of yellows, oranges, and golds as the … [Read More...]
Are you interested in expanding your investment portfolio with hard, long-term assets that are almost certain to grow in value? If so, you will want to consider investing in real estate. Let's take a look at how you can get started with real estate investing in just three easy steps. Start By Budgeting Your Time And Money Real estate investing is just that – investing! Moreover, this, of course, means that you'll need to commit both money and time to see results. The great news is that if you're just getting started with real estate investing, you don't need to start with much of either. … [Read More...]
As with any loan or line of credit, there are benefits to getting your mortgage paid down. You'll pay less in interest, potentially saving thousands over the repayment period. Moreover, you'll own your home outright that much quicker. Let's explore four money-smart strategies that will help you to pay your mortgage off faster. Start With The Obvious And Increase Your Payments It won't come as a surprise that one of the easiest ways to get your mortgage paid off is to increase the amount you put towards your monthly payments. Most lenders will allow you to place any extra funds directly against … [Read More...]
Are you in the market for a new house or apartment? If you are financing the purchase by taking out a mortgage, you'll want to know how to make this transaction run as smooth as possible. In today's article, we'll share a quick four-step guide to speeding up the mortgage closing process. Step #1: Check In On Your Credit Score The first step before applying for your mortgage is to check in on your credit. Request a copy of your credit score and history from one of the major reporting firms. Go over this report, paying close attention to any old or outstanding items that you may have already … [Read More...]
