Refinancing Do’s and Don’ts
By Ted Lyons, Mortgage Loan Officer
Refinancing your home can be a great financial tool to lower your interest rate, shorten the loan term, decrease your monthly payment, or convert one sort of asset (equity in your home) into another (cash in your hands). Here are some tricks of the trade that can help you take advantage of this strategy:
What are the two basic reasons I might refinance my mortgage?
With some limited exceptions, most people refinance their home to lower their interest rate, shorten the term of their mortgage, or decrease the payment by extending the loan over a longer time (rate/term ...
Home Organization Tips
Starting off on the right foot has everything to do with having the right mindset, and believe it or not having a clean home can make all the difference. A cluttered house clutters the brain, after all! With that in mind, here are a few home organization tips ordered by room to help you stay on track.
Since your bedroom is never on display when guests are over, it’s easy to forget (or care) how messy it can become. But there are a variety of organizational processes you can put into place to minimize clutter.
If your closet is constantly ...
3 Advantages of Refinancing Your Home
When mortgage interest rates are very low, most mortgage experts agree that it would be an excellent time to refinance. But why should you? We’ve got the details on the advantages of refinancing your home.
Reduced interest rate. This is one of the main advantages of refinancing anything, especially a mortgage. As you age and your credit history becomes more robust, you may have a higher credit score and a higher income. For this reason, you may qualify for a much better interest rate than you did when you first bought your house!
Ability to take equity out of the home for ...
Getting a Mortgage After Divorce
A divorce changes so many aspects of your life, both emotionally and physically. One major obstacle is figuring out a living arrangement that works for everyone involved. If you decide to pursue a mortgage (or assume the old mortgage) on your own, a divorce can make the process more difficult, but it’s not always impossible. Here are some issues you’ll need to address:
You may want to make sure your old home is in one person’s name only
If you or your ex can refinance in his or her own name, that’s the ideal situation, since one of you would no longer ...
3 Affordable Ways to Improve Your Home’s Curb Appeal
Your home’s curb appeal is the first impression that strikes potential homebuyers, but there’s no need to spend a fortune on improvements. Here are three affordable ways to make a dramatic difference on a budget.
Paint your shutters, trim or doors
A gallon of exterior paint will run you less than $100. By simply painting accents like the shutters, trim or front door you can bring your home back to life and add some brightness, making your home stand out. Bold colors work great for this, but make sure the color also works with other exterior areas of the home, such as ...