Blog

22
Dec
By Jim Hasek
Home Mortgage Tips, ,

Understanding the HARP Program and How to Qualify for a HARP Mortgage

Interest rates may be relatively low, but if you're a homeowner who is struggling with your monthly mortgage payment, it may be time to consider what re-financing options are available on the market. If you are looking for a lower interest rate to improve your financial health, here's what you need to know about the HARP program so you can take advantage of a better rate. What Is HARP? The Home Affordable Refinance Program, which is commonly known as HARP, was created in the wake of the 2008 recession, which was brought on by the high amount of housing debt…
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21
Dec
By Jim Hasek
Home Mortgage Tips, ,

Mythbusting: Understanding Mortgage Myths and Why They Shouldn’t Hold You Back

With the fluctuations in real estate and the increasing cost of home ownership, many people are entering the market with more trepidation these days. Fortunately, there are a number of myths associated with buying a home that may not adversely affect potential homebuyers. If you're interested in purchasing a home but are unsure about whether it will get approved, here are a few things you may want to dispel. No Approval With Less Than 20 Percent While putting 20 percent down can help you avoid having to pay private mortgage insurance, this down payment percentage is still just a suggestion…
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20
Dec
By Jim Hasek
Home Mortgage

Graduating Soon? Tips to Prepare You for Your First Mortgage

If you've recently graduated from college, or will be graduating soon, and plan to become a homeowner, you're in a somewhat unique position. You're about to embark on a great journey, but at the same time, you may also be taking on an awful lot of debt. That said, it is possible to successfully manage a high debt load if you're careful. So how can you make sure you can pay your mortgage, your student loans, and your mortgage expenses all without losing your mind? Here's what you need to know. Make Sure You Have An Emergency Fund Managing a…
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19
Dec
By Jim Hasek
Mortgage Rates

What’s Ahead For Mortgage Rates This Week – December 19, 2016

Housing news was boosted by the National Association of Home Builders Housing Market Index, which posted its highest readings since July of 2002. In other news, the Federal Reserve's Federal Open Market Committee voted to raise the federal funds rate and Fed Chair Janet Yellen gave a press conference. Mortgage rates rose and weekly jobless claims fell. Home Builder Confidence Highest in 14 Years, Home Construction Lags According to the National Association of Home Builders, builder confidence in housing market conditions reached its highest rate since 2002 in December. The NAHB Housing Market Index reading topped out at 70 as…
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16
Dec
By Jim Hasek
Home Buyer Tips,

Buying a New Home? Use This Checklist to Ensure Your Finances Are in Order

Buying a home is a significant expense. It doesn't matter whether you're a first-time buyer or have experience. Unless you have a large pile of cash, you'll need to ensure your finances are in order before closing. In this post we'll explore four financial items you'll want to check off before buying a new home. Figure Out Your Current Monthly Budget First, you're going to want to sort out your monthly budget. If you've never done a budget before, start with something basic. Open up a spreadsheet or take out a piece of paper. Make two columns: 'income' and 'expenses'.…
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15
Dec
By Jim Hasek
Home Mortgage Tips,

Not so Fast: 3 Reasons Why You Might Want to Avoid Paying Off Your Mortgage Early

The burden of debt, especially when it comes to the high price tag of a home, can be a significant worry to many people. However, what many homeowners may not be aware of is that paying your mortgage off early can actually have a negative impact on your financial health. Whether you've recently come into money or you're working hard to bump up your monthly mortgage payments, here are some reasons you may want to hold off on paying it off too quickly. Creating A Credit History It can certainly be a weight off your mind to pay down your…
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