Is a Mortgage Refinance Right for You?
Are you looking to reduce your monthly mortgage payments, get a lower interest rate, convert your home equity into cash, or switch to a fixed-rate loan? Consider refinancing your home loan. But before you jump into the refinance process, remember that everyone’s financial circumstances are different. Loan balances, interest rates, remaining months on the loan term – they all vary depending on each situation. However, there is one thing that is, and always will be, the same fo
Low Interest Rates Have A High Impact On Your Purchasing Power
Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest rates would have if you planned to purchase a home within the local median price range, and planned to keep your principal and interest payments between $1,600-$1,700 a month. With