It’s no secret that mortgage interest rates have risen significantly in the last couple of weeks, but that doesn’t mean you need to abandon your plans to refinance or purchase a home. Interest rates can change at any time and are driven by market forces such as economic news and inflation. Moreover, although rates are on the rise it’s important to compare interest rates from a long-term point of view. The chart below, from Freddie Mac, compares mortgage interest rates throughout history. Based on this data, mortgage rates are still considerably low compared to decades
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Finding the right home for your family is one of the elements to consider while house hunting. Here are six tips to help you find a family-friendly neighborhood. Read Reviews: See what neighbors and the community have to say about the area. One way to do this is by looking for signs of a family-friendly neighborhood such as playgrounds, well-lit streets, and a quiet environment. Research School District: Conduct research on local school districts and educational programs in the area. Find out more about school statistics by using websites like GreatSchools.org which provide specific information about schools in
The Federal Housing Finance Agency (FHFA) recently made a statement that upfront fees for specific high-balance and second-home loans were going to increase beginning April 1, 2022. If you are considering buying a home, then doing so prior to the change may be smart. Here is everything you need to know about the increase in upfront FHFA fees. Announcement Breakdown The FHFA new pricing framework will take place on April 1, 2022; increasing the upfront fees for any high-balance and second home loans sold to Fannie Mae and Freddie Mac. The fee increase will
A reliable lender is like a four-leaf clover, hard to find and lucky to have! But buying a home requires more than just luck, you need a knowledgeable Loan Officer to help guide you through the homebuying process. Learn how you could luck out by purchasing a home this season! Low-Interest Rates While rates are constantly changing in the housing market, interest rates remain historically low!* Your mortgage payment consists of four components: principal, interest, taxes, and insurance. It’s important to take advantage of today’s rates to secure a lower interest rate before they
Whether you are looking to increase the value of your home or make your space more functional, consider all elements that go into remodeling your home. Learn more by reviewing our top home remodeling tips below! 1. Plan What are your overall home goals? Envision the end goal for your home and create a detailed plan BEFORE starting the remodeling process. According to Family Handyman, consider the condition of your neighborhood and research which renovations will yield a higher return on investment. Planning is key for a successful house remodel, so be sure to take the necessary preparation
The moving process can seem like an overwhelming and stressful task to many. Check out these moving tips & tricks to prepare for the big day and take the stress out of moving! 1. Create a Moving Checklist Before packing, consider making a moving checklist to keep track of what rooms and items you plan on packing first. Since the moving process can take time, creating a checklist is a great way to remember what items have been packed already so you’re not digging through boxes! 2. Declutter Go through all your items and
The 2022 tax season is officially here, as of January 24th! Now, the Internal Revenue Service will begin accepting and processing federal tax returns for the year 2021. Whether you plan on filing taxes on your own or with an accountant, it is important to ensure you are readily prepared this season. Here are 5 MUSTS to be prepared for tax season! 1. Important Documents As we know, filing taxes requires documentation. It is a smart idea to start gathering tax documents now. Since many documents, such as W-2s and 1099s, may be digitally delivered, consider creating a digital folder to store important documentation. Some important documents to
Creating a monthly home budget is crucial to achieving your financial goals. A monthly home budget compares and tracks your income and expenses. This allows you to plan how much you could spend or save each month. Check out some of our budgeting tips below to help you start saving for your dream home today! Set a Financial Goal Start off by setting a realistic short-term or long-term goal. Create a budget that will allow you to save for your home’s down payment, while giving wiggle room for unexpected expenses. Note: There are a variety of mortgage
Being prepared with a Home Emergency Prep Kit in an event of an emergency or disaster is essential to any homeowner. Review the list of basic supplies needed below to start your home emergency prep kit! According to the American Red Cross and Ready, the following basic supplies are recommended to assemble your home emergency prep kit. Download My Free Home Emergency Prep Kit Checklist! Water: (one gallon per person per day for several days, for drinking and sanitation) Food: (at least a three-day supply of non-perishable food) Battery-powered radio and a NOAA Weather Radio with tone alert Flashlight First Aid Kit Extra
Recently, refinancing has been a trend on the rise. However, many homeowners are unsure where to begin when it comes to refinancing their mortgage. If the refinance process seems confusing to you, then our simple and easy four step guide to refinancing your mortgage can help break this complex process down! Step 1- Analyze Your Financial Goals As with any decision, it is important to consider the motive behind the decision. Consider your personal financial goals and if the refinance coincides with them. There are generally FOUR main reasons people refinance – to cut mortgage