The Benefits of Refinancing

With the trend of record low mortgage rates lately, many more people are seriously considering refinancing their home. Refinancing is not for everyone, but there are big benefits for some people. For those in good financial standing, refinancing can be used to shorten the length of your mortgage and/or lower your monthly payment. Another good…

The 20% Rule for Down Payments

A good down payment can save you money in the long run. The traditional rule of thumb has been 20% down on a house. Putting at least 20% down can help you in several ways: 1. Private Mortgage Insurance (PMI) Any borrower who puts down less than 20% is required by the lender to carry…

The Mortgaging Process Step by Step

The process of securing a mortgage for your new home is not as intimidating as it may seem. Though there are many things that happen behind the scenes, there is no reason to fear the mortgaging process. Here is a step by step guide to what happens on the way to buying your dream home:…