Author: Regan Hagestad

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

When you set out to purchase a home, some of your expenses likely will include a down payment, as well as money for movers and new furnishings. There’s also another expense that many homebuyers sometimes forget about: closing costs on a mortgage. Typically ranging from 2 percent to 5 percent of a borrower’s loan amount, closing costs average about $5.749

One of the most important decisions facing a couple going through a divorce is what to do with the home they owned together. And if the breakup is bitter, attempting to agree on the house and mortgage can be difficult. There are several factors to consider, including how the property was financed and titled; whether or not one of the

If you’re buying a home, one question you might have is whether home insurance is required when you own a house. In many cases, homeowner’s insurance is indeed mandatory, and even in cases where it isn’t absolutely necessary, it’s still a good idea. To help you understand why, here’s a look at exactly what homeowner’s insurance is, why it often

Plus, Other Questions You Might Have About Refinancing With today’s low mortgage rates, you might be thinking about refinancing your home again. But you might be wondering about the process, especially if you’ve refinanced before. Here are some answers to any questions you might have about refinancing a mortgage. How many times can you refinance your home? Refinancing involves obtaining

With mortgage rates at an extremely low level, you and your spouse might be considering taking the plunge and buying a home. But what happens when you apply for a mortgage jointly and one credit score is much lower than the other? You’ll find out that you both need to have good credit to get an affordable mortgage rate, and

A second mortgage is a type of home loan that a lender approves in addition to an original mortgage that has not yet been paid in full. Homeowners can use a second mortgage to borrow against the equity they have in their houses, often at lower rates than other types of financing. Essentially, a second mortgage is a lien that’s taken

When you’re just starting out, purchasing your first house can seem like a daunting task. But certain milestones can mean huge changes in how you handle your money. Here are six suggestions to help get your financial life on track. 1. Create a net worth statement To create a snapshot of your current financial situation, look online for helpful worksheets

With mortgage rates hovering at historic lows, many homeowners are rushing to refinance. There’s much to be gained by switching your existing home loan for a new one, and here are three reasons why refinancing now could be a smart move. 1. You could reduce your monthly payment The No. 1 goal when it comes to refinancing your mortgage should