Tag Archive: loan

Is It Really Better to Buy a Home When Interest Rates Are Low?

September 1, 2014 by Leave a comment

With interest rates still low, many people remain interested in purchasing a home whether it’s their first one or second. The cost of doing so can be affordable and in a recent North Shore Bank/GMAR Home Affordability Report, shoppers in the second quarter could still buy a home with a small monthly payment as compared to late in... View Article

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Have You Tried to Refinance Lately? HARP Changes Could Help You Qualify

August 29, 2014 by Leave a comment

As the housing market continues to rebound, lenders are in a tricky situation. Excessively strict lending laws can cause the market to stagnate, but loosening restrictions too much will result in foreclosures. Consumers and economists often eagerly await news about lending conditions, since it directly impacts the market. One major source of information on lending conditions is the... View Article

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Increasing Home Value Part 3: Why You Should Consider Paying Off Your Mortgage Early

August 28, 2014 by Leave a comment

If you want to make some headway with your personal finances, you may want to make plans to repay your debts. When we talk about debt, most of the time we’re referring to the “bad” kind: student loans with balances greater than your annual salary, or consumer credit card debt. But there’s “good” debt, too. That’s what your... View Article

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What is a home equity loan?

August 26, 2014 by Leave a comment

Many homeowners think of home equity loans and home equity lines of credit as the same thing. But they’re not. In fact, there are some significant differences between the two. Think of a home equity line of credit as a type of credit card that uses your home as collateral. You can borrow up to a certain... View Article

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HARP is nearing its end: If you’re underwater, its time to refinance now

August 22, 2014 by Leave a comment

Debating whether to refinance? If you owe more on your mortgage loan than what your home is worth, you might be running out of time. That’s because the federal government’s Home Affordable Refinance Program — better known as HARP-  is scheduled to expire at the end of 2015. And if you don’t refinance before that government program... View Article

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