Are you buying or refinancing a home? Recent changes in mortgage loans may make it easier and cheaper to borrow. For 2020, conforming mortgage loan limits are rising to $510,400 in most areas and $765,600 in high cost areas like Washington D.C. (The max amount first started at $417,000 after the real estate meltdown and […]
Tag Archives | mortgage
Refinancings Are Booming: Should You Trade-In Your Mortgage For A Newer One?
Interest rates are at rock bottom, pushing mortgage refinancings to a new post-crisis high. Lenders extended over $2.4 trillion in home loans last year, the most since 2006, reports The Wall Street Journal. That’s a positive sign for the economy. People who save money on their mortgage payment are likely to go out and spend that […]
The 20% Down Myth, And How You Can Now Buy A Home With Much Less
One of the biggest misconceptions about buying a house today is that you need to make a 20% down payment. And let’s face it. That’s holding back a lot of potential homeowners, especially first-time buyers, who just don’t have that much cash in the bank. But the facts are that while a 20% down payment is […]
Saving On Your Mortgage: When A Good Idea Goes Wrong
Have you ever noticed that trying to save money can end up costing you more? Over the weekend, a friend was telling me how her twenty-something sister bought a new home and took out a 15-year fixed term mortgage. Looking at the numbers, a 15-year mortgage can be a smart move. Not only does a […]
7 Steps To Qualifying For The Best Mortgage
“Mortgage rates have plunged to record lows, below 4 percent. That’s great — but only if you can actually qualify for a loan, and that’s not easy,” says Kathleen Lynn, writing for the New Jersey Record. Lynn has seven tips to help you take advantage of bargain-basement mortgage rates, ranging from polishing up low credit scores, getting pre-approval for […]
Last Call for Refinancing?
If you are standing on the sidelines waiting to refinance, don’t wait too much longer. Rates are at historic lows. “This is an excellent time to refinance,” said Greg McBride, senior financial analyst at Bankrate.com, in a February 2012 Wall Street Journal interview. If you can’t decide if a refi is right for you, here’s some factors to keep […]
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About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
