Mortgage

Tapping into home equity can be risky, as it puts your home on the line. The main risks include potential foreclosure if payments are missed, market fluctuations that could leave you “upside down,” and accumulating further debt. Using equity to pay off high-interest loans may not solve long-term problems if spending habits aren’t reformed. To […]

Fannie Mae and Freddie Mac play key roles in the U.S. housing market by buying mortgages from lenders, creating liquidity, and influencing loan availability and rates. Fannie Mae focuses on conventional fixed-rate loans with larger banks, while Freddie Mac works with smaller institutions, often offering adjustable-rate loans. Understanding their differences can help homebuyers and investors

Yes, you can use your home’s equity to build wealth—if you do it wisely. Your home isn’t just a roof over your head; it’s a financial asset, and with the right strategy, it can become a tool for growth. By tapping into your home’s value through a HELOC, home equity loan, or cash-out refinance, you

Refinancing your mortgage before the rate adjusts can protect you from rising payments tied to an adjustable-rate mortgage (ARM). If your ARM reset is within the next year and interest rates are climbing, switching to a fixed-rate loan can lock in stability, save money long-term, and ease budgeting stress. Timing is key—refinancing 6–12 months before

Buying a home is saving for the down payment? Many buyers are caught off guard by a different hurdle – closing costs. These one-time fees show up at the finish line, and they can run into thousands of dollars. Knowing what to expect keeps you in control of your purchase. What Closing Costs Are and

A pending home sale means the seller has accepted an offer, but the deal isn’t final yet. While most pending sales go through, buyers often wonder if it’s worth waiting. It might be—if financing looks shaky or the inspection flags issues. Still, don’t pause your search. Waiting on a pending home without a backup plan

When it comes to buying a home, the type of mortgage you pick can either help you build wealth or trap you in stress—and knowing the key differences between fixed-rate and adjustable-rate mortgages is what makes the difference. I’ve been there. Deciding between locking down a rate for 30 years or going with something that

Buying a home is one of the biggest financial steps most people take in their lifetime. It’s exciting, but it also comes with a lot of paperwork, new terms, and numbers that can feel overwhelming. Just when you think you’ve finally made it through the loan applications, house tours, and inspections, another phrase pops up—cash

How to budget for potential rate increases with a 5/1 ARM? You’re not alone asking that. Look, getting into a home with a 5/1 ARM sounds smart—low rates upfront, you save money early on. But let’s be real. What happens when the rate resets after five years? Things can get ugly fast if you’re not

The key difference between a HELOC and a home equity loan lies in flexibility versus predictability. A HELOC works like a credit card with variable rates and ongoing access to funds, while a home equity loan gives you a fixed lump sum with stable payments. Choosing the right one depends on your financial goals—whether you