It may sound tempting to refinance your home loan now that rates are low, but is it really the smart thing to do? Before you make the final decision to refinance your home be sure to do all the calculations carefully. You could actually end up losing money on a home refinance.
When you refinance your [...]
What is a point when referring to a mortgage loan? A point is simply a percentage point of the overall loan amount that is paid up front, usually included in closing costs. For example if you are financing $200,000 and paying 1.5 points, you will have to come up with $3,000.
Why pay points toward a [...]
A mortgage buy down program or reverse mortgage may be an acceptable option for someone living on a fixed income who has no other means to earn money to pay for their current expenses.
Many financial experts agree that mortgage buy down programs are a bad investment, but I believe for some it may be an [...]
A reverse mortgage is a mortgage loan or lien against your home that you do not have to pay back for as long as you live there. It’s similar to a home equity loan in the fact that you are taking equity out of your home in the form of cash. You can get the [...]