Mortgage Financing 101

– and Ways to Keep Your Budget in Check Remember the good old days when home mortgage rates were below 3%?  In fact, they had been historically low for well over a decade, hovering between 2.5 to 3.5%.  Today, we are witnessing rates that are on a continued climb due to a number of factors,…

Most of us use credit for major expenses whether it’s to pay for a college education, buy a vehicle, or secure a mortgage. Many people also use credit for smaller purchases, such as appliances or holiday shopping. A summary of our credit history, including loans and credit card charges reveals our credit score, which is…

With the new year comes predictions for the housing market and mortgage rates. Any changes in the economy and votes on Capitol Hill can have an impact on real estate, but for now, analysts tell us there are a few trends to watch for. Ellie Mae keeps track of how long it takes to close…

In recent posts, we’ve reviewed how you can get a better rate on your mortgage – and therefore reduce your monthly payment as well as the overall cost of your loan over 30 years – by improving your credit score and paying off credit card debt. But that’s not the only way to save money…

The housing market in New Hampshire is very attractive to many. Beautiful three and four bedroom homes in great neighborhoods near excellent schools and amenities can be found in the $350,000 range. In some cases, an investment of this size can even get you into a new construction home that can be customized to your…

In our last post, we explored how having a high credit card utilization rate negatively affects your credit score. The utilization rate is the ratio of the balance owing to the credit limit. We also talked about just how much you can save on your mortgage by improving your credit score. Today, we’ll take a…

One of the biggest stresses of buying your first home is saving for that down payment. Ideally, you started this process when you were first thinking about moving out of your parent’s house or from your expensive apartment. However, you may be looking for some fast, last-minute ways to save as well! It’s never too…

For most people, buying a new home also means getting a mortgage. The person working behind the scenes on your mortgage is called an underwriter. The underwriter reviews all of your paperwork, evaluates your financial situation, and ultimately ensures that you will be able to meet the defined loan obligations. After the housing crisis during…