Banknotes

Other than different interest rates, most people think that one mortgage is the same as any other. In truth, there are dozens of different mortgage loan options, each with their own special provisions to help people in different phases of life or people in specific situations.

When life changes, your home loan needs may change, too. From first-time home buyer to eventually downsizing as an empty-nester, there’s a perfect mortgage for every phase of life.

Divorce is difficult for so many reasons. To avoid making it harder than it has to be on your finances, it helps to understand the way mortgages are handled as you divide assets.

Whether you are thinking about keeping your current home to provide stability or considering a move to get a fresh start, there are things you should know to make the process easier.

It’s incredible, but true: Mortgage rates, already near historic lows months ago, have continued to drop. In fact, the rate environment is such that people who bought a home just last year might benefit from already refinancing, as it’s estimated that by doing so, the average homeowner could save around $150 monthly.

With the weather finally starting to cooperate and spring just around the corner, the 2019 housing market is beginning to heat up in earnest. Loan applications for newly constructed properties accelerated going into this year’s peak home-buying season, contrasting with the weakness seen at this time in 2018. Year-over-year new-home purchase applications for March were up 7%; compared to the previous month, they increased 19%.

If you are thinking about purchasing your first home, the down payment may be one of the reasons why you decide to wait. While there are a number of factors that play into a pre-approval for a home loan, the down payment is a major component to this process. Setting aside funds for a home purchase is not always easy.

While there is a lot of information out there about homeownership, it is very important to talk with a local, knowledgeable lender regarding the options for your particular situation. 

Economists confirm that homeowners, on average, accumulate more wealth than renters. By paying down their mortgage on a monthly basis, part of every payment goes to the principal and the value of their asset (house). Homeowners also have the flexibility to improve their property to better suit their needs and to increase its value over time.

When trying to decide what loan program is the best for you, a basic decision is whether to go with a fixed rate or an adjustable rate mortgage.

Dane County’s Spring Real Estate Market is here!  We are on year three of lack of inventory in homes for sale, which means it is going to be another year of a strong seller’s market.  When homes do get listed for sale, it does not take long for that property to go into contract and thus on its way to a successful closing.  It is great being a seller right now, however as a seller, what are you going to buy? 

On December 22, 2017 the President signed the Tax Cuts and Jobs Act of 2017.  The new law makes many significant changes to the tax code, including doing away with the deduction for the interest paid on home equity loans.

Are you looking to purchase a home in 2018?  It is still a great time to invest in real estate since interest rates remain at historical levels, the underwriting of mortgage loans has loosened up and rent prices continue to increase.