What the New Student Loan Forgiveness Means for You The President’s new plan will erase $10k of student debt for millions of borrowers. To qualify, you need to have taken out a federal student loan prior to June 30, 2022, and make under $125,000 as a single filer (or $250,000 as a household). So, do [...]
Are adjustable-rate mortgages safer now than they were in 2008 Adjustable-rate mortgages are gaining ground amid rate hikes for fixed-rate mortgages. Here’s what you need to know if you’re in the market for a home loan. As interest rates rise for conventional loans, home buyers are turning to adjustable-rate mortgages in increasing numbers. According to [...]
Saying “I Do” to Homeownership: How to Prepare for This Big Commitment Buying a home is a major commitment. It’s a bit like, well, getting married: you’ve got to be ready and you have to find the right “one.” And, like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care [...]
3 Ways to Refinance to a VA Loan A VA refinance is brand new loan, not just an adjustment of a current one. A VA refinance will require a new loan application, a new title report and depending upon the type of VA refinance, more paperwork. Today, there are three different VA refinance loans. The [...]
VA Loan Eligibility Requirements To be eligible for a VA loan, you or your spouse must meet the basic service requirements set by the Department of Veterans Affairs (VA), have a valid Certificate of Eligibility (COE), and satisfy credit and income requirements. You may be eligible for a VA loan by meeting one or more of the [...]
When Veterans Should Use a VA Loan VA loans are federally backed loans available to eligible military service members who are looking to buy a house. In many cases, it will be your best option thanks to the perks like no down payment, competitive rates, limited closing costs, and no private mortgage insurance premium (PMI). [...]
Even when rates are low, refinancing your mortgage isn't always the right choice. Here are some points to consider before you refinance. Deciding when to refinance your home loan depends on several factors besides whether you can get a better mortgage rate than you already have. And though there are many reasons people refinance their [...]
Refinancing is the process of paying off an existing loan with the proceeds from a new loan and using the same property as collateral. Usually, the interest rate on the new mortgage will be less than the old, the loan will cost less and you will save money. However, refinancing isn’t appropriate for every homeowner. [...]
