To get a conventional loan, you will usually need to have at least 20 percent equity. This means that your house will have to be worth at least $250,000 to get a $200,000 loan. If you have less equity, you could end up having to pay for private mortgage insurance, which can easily add $100 or more to your monthly payment.
Are Interest Rates On The Rise – What’s The Next Move?
As the federal reserve continues to taper quantitative easing measures, financial experts project mortgage interest rates will climb in the next two years. Could this be the much awaited ray of light at the end of the proverbial tunnel for builders and investors or will it drive hesitant home buyers to dig in and shelter in place?
BUSTED: 4 Myths About Buying Your Home That Just Aren’t True
It can be pretty intimidating to dip your toes into the realm of home ownership, especially if you’re a first-time homebuyer.
4 Important Questions To Ask Before Refinancing Your Mortgage
So you are thinking of refinancing? Well you are in luck because I have 4 quick and important questions you should ask yourself before doing so.
What Financial Preparations Should I Make Before Applying For A Mortgage?
Getting a mortgage isn’t an easy thing to do. Before a lender will put down tens of hundreds of thousands of dollars, it wants to know that the borrower can handle the loan so that it will get paid back.
