Shopping for a house can be stressful, but choosing a loan has the potential to be just as bad. There’s a lot to know, a small window in which to figure it all out and a 30 year commitment to a loan product that might just not be right for you for to worry about. All in all, it might be easier to remove your own inflamed appendix than to pick a mortgage.Read More
ll mortgages are structured uniquely, such that the majority of any payment made before about halfway through the loan is interest (depending on your down payment and rate), so it would naturally follow that some people would want to shortcut this early period and get on to paying on the meat of the loan. The buyer would then take over the payments from the seller, without the loan changing terms at all. This is, in essence, how an assumable mortgage works.Read More
The housing market continues to thrive across much of the country as we head into the spring months. Additionally, many of the markets that burst with the bubble of 2008 are mostly recovered. This has created things we have not seen in previous years such as bidding wars for some homes, creating urgency for the buyer, and also demanding higher market prices in many areas. This coupled with the recent news that the Feds will likely continue to hold interest rates somewhat steady for a short time longer is creating an increased frenzy in our real estate market.