Buying a home is an exciting experience! And, it doesn’t have to be overwhelming when you understand the steps. Whether or not you’ve been through the process, if you’re considering buying a home, now is the time to brush up on what to know about mortgages before applying. Here, we’ll walk you through how mortgage payments work, the application process, and what mortgage options you have once you’ve made the purchase. How Mortgage Interest Works When it comes time to purchase a home, you’ll hear a lot about rates. Think of an interest rate as the price you pay for using someone else’s money. More specifically, your mortgage rate is… read more »

If you’ve been paying off your current mortgage for a while, it may be a good idea to refinance. By refinancing, you pay off your current loan and replace it with one that (ideally) has more favorable terms. However, it’s important to know whether it’s worth it to refinance your mortgage. During refinancing, you’ll go through the entire application and approval process over again, so it should at least balance out the costs in the end. The Best Times To Refinance A Mortgage Typically, the best times to refinance a mortgage are those that will net you large savings over the life of the loan. These circumstances include: Market rates… read more »