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Time to Refinance?

The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home at when you refinance to use for other purposes.…

Buying vs Renting a Home

Does it make more sense to rent than to buy? That has been a long-running debate in this country. However, the question is flawed: There is no correct answer. There…

Understanding Mortgages

Most people will need a mortgage to finance the purchase of a home. A mortgage works much like any other loan: You borrow money from a bank, credit union or…

Calculate a Home Equity Loan Payment

Repayment of a home equity loan requires that the borrower make a monthly payment to the lender. That monthly payment includes both repayment of the loan principal, plus monthly interest…

Home Affordability

You are ready to make the jump from renting to buying a home. That is good news. The National Association of Realtors’ latest report for 2022 states that the median…

Understanding Your Debt-to-Income Ratio

Your debt-to-income ratio (DTI) is the percent of your gross monthly income that goes toward required debt payments. This number allows potential lenders to see at a glance whether you…

Should You Refinance Close to Retirement?

Low-interest rates make refinancing attractive to many homeowners. It can help you lower monthly payments, and you can use the extra money for many things. However, if you are approaching…