In this blog series, we simplify common mortgage terms and explain them in 300 words or less.
What Is The Difference? Two of the most often confused terms when it comes to mortgages are “home equity loan,” and “cash out refinance.” One the surface, it’s easy to understand why – both are used to access equity tied up in one’s home. The reasons to pursue either range from wanting to complete a kitchen [...]
What is a Bridge Loan? If you’re researching bridge loans, the chances you’re a current homeowner, so we will skip the basics and get right into it! A bridge loan can be the perfect solution for folks that are looking for a little boost to help them over a common hurdle. They get their name [...]
Save It or Shred It As a homeowner, it’s simply impossible to avoid, seems to accumulate out of nowhere, and you never know what to do with it all – that’s right, we’re talking about the dreaded paperwork. From tax documents, to bank statements and bills, there seem to be three forms for everything. Today [...]
When a Refi Makes Sense In our post 4 Ways to Make Refinancing Work for YOU!, we explain how you as a homeowner can take advantage of refinancing opportunities. From lowering your monthly payments to paying less interest, there are a number of reasons why it’s smart to refinance. However, that still leaves the question of [...]
The Making of a "Good" Credit Score Everyone is acutely aware – some of us more than others – what having bad credit can do to your financial life. From increasing interest rates on loans or credit cards, to upping insurance costs, and even trouble getting a new cell phone contract, the effects are far-reaching. [...]
Is a "Cash Out" Refinance Right for You? There are a number of different refinancing options available to homeowners. Some popular ones are: 15 and 30 year mortgage refinances, cash-in refinancing, short refinancing, and lastly, cash out refinancing. Cash Out Refinancing is a great way to access money you have tied up in your mortgage [...]
Loan to Value Ratio There are a number of terms that you just can’t escape when researching owning homes, mortgages, and loans. “Loan to value” ratio is one of them. That said, it’s also one that a lot of people don’t understand. Have no fear, in this post we will thoroughly but quickly explain the [...]
Home Equity As you consider buying your first home and start the research process, you will likely come across the term “equity” used a lot. It is a frequently cited reason to buy a home, and mentioned along with words like “wealth,” and “financial freedom.” So, we know equity is a good thing; but what [...]
