Blog

07
Apr
By Jim Hasek
Home Buyer Tips, ,

It’s Tax Time: Learn How Buying a New Home Can Help to Reduce Your Tax Burden

Most people do not look forward to tax time, whether they get money back or not, but as a homeowner there are a lot of things you can do that will help to reduce your taxes and get you a refund. If you're getting prepared to invest in a home and are wondering how it can benefit you, here are some deductions you'll want to watch out for. Minimizing Mortgage Interest One of the best benefits of having a home is that you can actually deduct mortgage interest at tax time and save considerable money as a result. While the…
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06
Apr
By Jim Hasek
Home Mortgage Tips,

Buying a Home With a Mortgage? Here’s What You Can Expect at Your Closing Meeting

If you've decided to invest and have finally found your ideal home, it's probably an exciting time for you and your family. But before the deal is sealed, there will be a closing meeting so that all of the loose ends can be tied up. If you want to be ready for closing and are curious what the final meeting will entail, here are a few things to be prepared for. The Last Walk Through The initial home inspection may have already occurred prior to your closing meeting, but a final walk through should also be granted in the event…
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05
Apr
By Jim Hasek
Home Mortgage Tips, ,

Your Debt-To-Income Ratio and How It Affects Your Mortgage

When you're delving into the market in the hopes of finding your dream home, it's likely you'll come across the term debt-to-income ratio. This may not seem important at first, but your DTI is the key to determining the amount of money you can put into your home and just how much you should spend on a monthly basis. If you're curious about what this means for you, here's how to calculate it and how it can impact your mortgage. What's Your DTI Ratio? One of the best ways to determine whether or not a home is affordable for you…
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04
Apr
By Jim Hasek
Home Mortgage Tips, ,

Understanding Mortgage Amortizations and Why Longer Periods Can Cost More

Buying a home is one of the largest investments you will make in your life, and that's why so many people have longer mortgage amortization periods to pay down the principal. While it may seem appealing to have a longer amortization period, here's why an extended loan term can end up costing you more and may be less financially beneficial when it comes right down to it. About Mortgage Amortization Generally speaking, a 25-year mortgage amortization period can be typical, but there are many loan periods that a homebuyer can choose for amortization. While a longer-loan period may seem enticing…
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03
Apr
By Jim Hasek
Mortgage Rates

What’s Ahead For Mortgage Rates This Week – April 3, 2017

Last week's economic news included Case-Shiller Home Price Index reports, pending home sales, and consumer confidence readings. Weekly readings on average mortgage rates and new jobless claims were also released. Case-Shiller: Home Prices Higher in January According to Case-Shiller reports released last Tuesday, average home prices increased in January. The national average home price rose 0.20 percent from December to January; year over year, home prices grew by 5.90 percent. Home prices were 0.90 percent higher on a month-to-month basis when seasonally adjusted. The West continued to dominate home price growth. Seattle, Washington reported 11.20 percent growth in home prices…
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31
Mar
By Jim Hasek
Home Buyer Tips, ,

Student Loans vs. Down Payments: 3 Ways You Can Manage Both and Buy a New Home

The idea of paying off your student loans and buying a home at the same time can seem like an impossible feat given the impact on your Debt-to-Income (DTI) ratio. However, there are ways it's possible to have enough funds and good enough credit to make your dream of home ownership come true a little more quickly. If you're currently considering how to manage both, here are some options you might want to consider. Decrease Your Debt Lenders will be looking at your DTI ratio in order to determine whether or not you're a solid financial bet, so before throwing…
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