Generally, people wait until after they’ve bought their first home—or in some cases even their second—before they start seriously investing in real estate. However, there’s no rule to say that you can’t start earlier. In fact, more and more people are making their very first home purchase an investment property....
Author: Loan Fleet News
The Pros and Cons When Considering a 15-Year Mortgage
Many borrowers and aspiring homeowners assume that they’ll be making mortgage payments for a full 30 years. While the 30-year mortgage has long been the standard, it’s important to know that other options exist—including one that cuts the standard loan term in half. Of course, we’re talking about the 15-year...
What Does a Loan Officer Do?
Lenders exist to loan people funds. Money that can be used to close on a home, start a small business, make renovations to a property, etc. However, lenders don’t loan money to just anyone, and securing a loan requires you to prove that you are creditworthy. This process will invariably...
What to Expect During the Home Loan Process
Buying a new home is exciting, but it can also be a little intimidating, especially if you have never done it before. The loan process, in particular, can seem daunting. Certainly, there will be some paperwork to complete, some regulatory hoops to jump through, and several steps to the process...
When Should I Consider Refinancing?
The home loan process is something that most homeowners go through at least once. When it comes to refinancing your home mortgage loan, is it worth it to go through the process again? The answer is yes, with some caveats. Refinancing can certainly be beneficial, but it’s not always a...
5 Mortgage Refinancing Errors to Avoid
There are many reasons to consider a mortgage refinance—shrinking your monthly payments, minimizing your interest rate, or freeing up additional cash for another major purchase. With that said, refinancing doesn’t always work out as borrowers hope it will, and there are a few common refinancing errors you’ll want to avoid. ...
4 Tips for Refinancing Your Mortgage
Interest rates are hitting new record lows, but banks what banks do makes it even more difficult. Here’s how you can better your chances. There has never been more appropriate time for trying to refinance your mortgage. Rates are at record lows. The government is devising new programs to help...
Thanks to Millennials, Homeownership Is As Low Now as in 1965
We guess that the fact that young people are not interested in buying a home at once these days has been a big contribution to the fact that the housing industry has never truly recovered from the Great recession. This means that while the interest rates are still quite high...
Compared to 2019, This Year’s Refinancing Bids Have Doubled
In a world where the mortgage payment’s interest gets as high as it can be, the refinancing is… Have interest rates fallen? Do you expect them to go up? Has your credit score improved enough so that you might be eligible for a lower-rate mortgage? Would you like to switch...