Mortgage rates have dropped to historic lows in the past year, causing many to refinance their mortgage. Refinancing your mortgage can help you save money. One report estimated the average savings to be $300 per month after refinancing. But there are some upfront costs you should know about before refinancing your mortgage. The First Cost of Refinancing: Closing Costs Closing costs are 2-5% of the...
We’ve all heard of a mortgage, but what about a reverse mortgage? A reverse mortgage is a type of loan that allows you to cash out your home’s equity while you still live in your home. Instead of paying the lender your monthly mortgage, the lender pays you. You don’t have to pay back the money until you move out, sell the house, or pass away. Here is more information about how it works, and why you...
Becoming a homeowner is a milestone many aspire to reach, and it’s an exciting goal! But it can be hard to decide if you’re ready for the commitment of being a homeowner or should renew your lease for another year. Here are some signs that you’re prepared to buy a home! 1. You Have Money for a Down Payment to Buy a Home This first step is one of the most challenging obstacles homebuyers face...
HomeLight released their Top Agent Insights Spring 2021 Report! Homelight polled almost 1,400 from February to March to hear their thoughts about the real estate market. Here are some key trends that are or can influence the summer 2021 housing market. Seller’s market continues to intensify and spread. The market is still hot everywhere, giving sellers the upper hand. In Q1 2021, 97% of agents...