Starting the process of looking for a new home is exciting. It can also be very overwhelming. It is imperative to understand the housing market in the area you are looking to buy, as well as the monthly costs to maintain a home in the area.
Are you looking to increase the equity in your home in order to sell it quickly? Besides paying down your mortgage with additional payments and such, consider making a few minor fixes that will change the overall look and feel of your home and draw more potential buyers to the property. Get rid of clutter and focus on changes that will appeal to a larger pool of buyers. Here are some additional tips to help increase your homes’ value.
When looking to purchase a home the first question is What Can I Afford? There are many variables to determining this including your income and debts, current interest rates, credit scores, how much of a down payment you can afford and your savings.
Are you in the market for a new home or considering a mortgage re-finance, but wondering how the new tax plan will affect you? There are a few variables to pay attention new regarding the new tax plan and it affects individual mortgagees differently.
Whether you are looking to sell your home or make modifications, it is important to know how much equity you currently have in your home. The amount of equity you have in your home plays an important role, especially when trying to qualify for a line of credit.
Are you considering buying a home this year? Experts in the housing market have forecasted some interesting statistics pertaining the cost of buying a home in 2018. In the past year, home prices have risen an average of 6.5%.
If you are in the market for a new home in 2018, it is important to keep your eyes on the mortgage rates. Economists predict that over the next few years, mortgage rates will begin to rise above 4% and even 5%.
A home Equity Loan allows a homeowner to borrow money against the value of their current home. A lender will allow you to borrow up to a certain amount of your home and uses the equity in your home as collateral against the new loan.
To be Eligible for a VA Loan, you be currently serving or formerly served in the US Armed Forces. There are many benefits of getting a VA loan, specifically the potential for 100% financing, low rates and zero mortgage insurance.
CHFA Loans are offered through the Connecticut Housing Finance Authority. They are for First-time Homebuyers who are looking to purchase a home in certain areas that are targeted for revitalization. CHFA Loans are offered at competitive interest rates.
Is it Worthwhile to Re-Finance My Current Home Mortgage?
November 11, 2017
Author:New England Home Mortgage
If you are considering a home re-finance, it is important to understand the ins and outs of a mortgage refinance. When you refinance your current loan, you are essentially paying off your current loan and replacing it with a new one.
What are the Best Ways to Increase My Credit Score?
November 4, 2017
Author:New England Home Mortgage
When applying for a mortgage loan, your credit score will greatly impact your eligibility. If your credit score is not so great, most lenders will recommend that you try to increase your credit score before applying.
Reverse Mortgages are an attractive option for Seniors over the age of 62, who are looking for ways to supplement their retirement income. While there are no requirements for monthly mortgage payments, borrowers are required to pay the taxes and insurance on the home.
If you are not sure what type of loan you may qualify for, you should do your homework and work with a Mortgage Broker to determine the different types of loans available and specific requirements for each. With FHA mortgages, you first need to meet their credit score requirements.