Although the best way for first-time homebuyers to come up with a down payment for a home is to save for one, sometimes you’re in a hurry. Maybe your dream house just popped up on the market or you no longer are satisfied with being a renter. Whatever the reason, you’re ready to buy a house now. But while your
Record-low mortgage rates have seen more people choosing to refinance their existing home loans to save money of late. A precautionary measure taken by the Federal Reserve to mitigate the effects of the coronavirus pandemic, the rock-bottom rates could potentially help homeowners save thousands of dollars. But what if you’re retired and still owe money on your home? You might
Independent contractors account for a huge portion of the U.S. economy. According to the Freelancers Union, more than 50 million Americans operated this year as freelancers, which translates into about 35 percent of the country’s workforce. And while freelancing has many perks, getting approved for a mortgage isn’t one of them. Unfortunately, the ongoing coronavirus pandemic has put additional hurdles in
With mortgage rates remaining at an all-time low, refinancing still is top of mind for many homeowners. And even though a 30-year fixed-rate mortgage might be the typical first choice among most borrowers, refinancing to a 15-year mortgage not only can shorten your mortgage term, but it also can keep you from paying additional interest. Keep in mind the monthly
