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Saving for a Down Payment on a Home

Owning a home instead of renting is often a wise financial move. It allows you to reduce your overall monthly costs while you build equity in real property. The biggest…

Know When to Lock-In a Mortgage Rate

When you are preparing to get a mortgage, one of the steps you can take is to lock in your interest rate. This is when you sign a formal agreement…

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…

Understanding Housing and Debt Ratios

You’ve found your dream home in the perfect neighborhood. There’s just one problem: You do not know if you can afford the monthly mortgage payments that will come with the…

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…

The Pros and Cons of an HOA

A homeowners association (HOA) provides you with the chance of living in an orderly and well-run neighborhood that’s managed by an organization that sets the rules and regulations under which…

Should You Refinance Into a Shorter Term Mortgage?

When mortgage rates are high — and in December 2022, the rate for a 30-year mortgage loan was at 6.27 percent, while the 15-year fixed-rate mortgage loan was at 5.52…