Financing Your Mortgage It seems almost unimaginable that only a few decades ago homebuyers were faced with interest rates over 17% when they refinanced or purchased a new home. Imagine how difficult it was to qualify for a $200,000. Mortgage for 30 years with a monthly payment of $2950.00. for […]
Author: Peter DeFusco
The purchase of your first home is an important financial decision, one that requires a careful analysis of the total cost of home ownership. One aspect of the total cost of owning a home are the loan costs […]
With mortgage rates down, millions of U.S. homeowners are back in the money to refinance. To be “in the money”, your mortgage rate must be more than […]
It’s Home Show season in New England once again. In February and March each year these regional events bring us all out of hibernation from winters chill to stimulate fresh ideas for our properties. Home Shows are great place to dream eyes wide open for that new kitchen or bath or even a new addition to your present home.
Many federal, state and local agencies administer programs to assist people who need help buying a home. Some of these are loan programs; others provide assistance with down payments or with building a home. Federal Housing Administration (FHA) mortgage loans – These mortgages, administered by the U.S. Department of […]
MORTGAGE RATES FOR ARMS & FIXED RATE LOANS As recently as 10 years, mortgage borrowers had tens of choices with respect to picking “the best mortgage” for their needs. Today, there are basically two — fixed-rate mortgages (FRM) and adjustable-rate mortgages (ARM). It can be confusing to know which loan […]
Refinance to shorten the term of your loan. If you have a 30-year mortgage, now may be a great time to consider refinancing. With record low interest rates, you may find that a 15-year mortgage is not much more expensive than the 30-year loan payment you have been paying. Start by entering your information a mortgage calculator […]
The start of a new year is a popular time to make resolutions: promises to yourself to achieve specific goals and objectives. Financially speaking, you might want to pay off debt, build up savings, prepare for retirement or better manage your daily spending in 2015. Those are good goals to […]
Unless you are paying cash for your project, you will need a construction loan to pay for the materials and labor.
If you’re in the market for a new home, navigating the range of home loans to find the one that best meets your needs can be difficult, particularly if this is the first time that you are buying a home. To make things easier, the federal government and most states offer home loans tailored to first-time […]