19 Sep 2025
By noelkelman

Myths About Mortgages That Still Fool Homebuyers

Mortgage Tips, ,
Buying a home is one of the biggest financial decisions most people will ever make, and the mortgage process can feel overwhelming. With so much information available, it is easy for myths to spread, and many homebuyers still believe ideas that are simply not true. Clearing up these misconceptions can make the path to homeownership less stressful and much more successful. Myth One: You Need Perfect Credit A common belief is that only people with flawless credit can qualify for a mortgage. While strong credit helps secure better rates, many loan programs exist for borrowers with less than perfect scores.…
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18 Sep 2025
By noelkelman

Deciding Whether to Pay Extra Toward Principal or Save for Other Investments

Mortgage, ,
When it comes to managing your mortgage, one of the most common questions is whether to put extra money toward paying down the loan principal or to save that money for other investments. Both choices have advantages, and the right decision often depends on your goals, financial situation, and comfort with risk. The Case for Paying Extra Toward Principal Making additional payments directly to your mortgage principal reduces the amount of interest you pay over the life of the loan. Even small extra payments can shorten your mortgage term and save thousands of dollars on interest. For many homeowners, this…
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17 Sep 2025
By noelkelman

How Borrowers Can Benefit from Inflation with the Right Mortgage

Mortgage, ,
Inflation is a topic that impacts nearly every part of the economy, from the cost of groceries to long term financial planning. For homeowners and those considering a mortgage, inflation can feel intimidating. However, with the right perspective and strategies, borrowers can use inflation to their advantage and create lasting financial benefits. Understanding the Relationship Between Mortgages and Inflation Inflation reduces the purchasing power of money over time. While this can make everyday expenses higher, it also works in favor of borrowers with fixed rate mortgages. Since the mortgage payment stays the same each month, the real value of that…
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16 Sep 2025
By noelkelman

How Parenthood Changes Mortgage Needs and Housing Priorities

Mortgage Tips, ,
Becoming a parent is one of life’s most exciting milestones. Along with the joy and responsibility of raising children, many families find that their housing needs and mortgage priorities change dramatically once little ones arrive. What may have worked for a single person or a couple often needs to be reevaluated when planning for the comfort, safety, and growth of a family. Space Becomes Essential One of the first priorities for parents is space. Families often seek larger homes with additional bedrooms and bathrooms to ensure that children have their own space and parents have room for future growth. An…
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15 Sep 2025
By noelkelman

What’s Ahead For Mortgage Rates This Week – September 15th, 2025

Financial Reports, ,
Both the CPI and PPI came in precisely within expectations. Under the current circumstances, there is now a very high probability that the Federal Reserve will implement a quarter-point rate cut, a view widely shared by industry analysts. There is also a strong possibility of another cut to follow. Meanwhile, Consumer Sentiment has hit another low in the last 4 months, as many have growing concerns about the state of the job market in addition to inflation continuing to grow. It is unknown how much the rate cuts will impact inflation, but so far the Federal Reserve has managed to…
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12 Sep 2025
By noelkelman

Strategies to Save on Your Mortgage in a Rising Rate Environment

Mortgage Tips, ,
When interest rates climb, homeowners and buyers alike often feel pressure on their monthly budgets. Fortunately, there are strategies that can help you save money and manage your mortgage more effectively even in a rising rate environment. By making thoughtful adjustments and using available tools, you can still work toward long term financial security. Make Extra Payments Toward PrincipalOne of the simplest ways to reduce the total cost of your mortgage is by making extra payments directly toward your principal balance. Even adding a small amount each month, or making one additional full payment per year, can cut your loan…
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11 Sep 2025
By noelkelman

5 Key Steps in the Mortgage Underwriting Process

Mortgage, ,
Buying a home can be exciting, but it can also feel overwhelming. Understanding the mortgage underwriting process can make things a lot smoother!  What is Underwriting?Underwriting is when lenders review your financial information to determine if you qualify for a mortgage. They check your income, assets, credit history, and the property itself to assess risk. The 5 Key Steps Submit Your ApplicationPre-approval starts here! This tells you and your lender how much you can afford and saves time while looking for a home. Verify Income and AssetsProvide documents like pay stubs, tax returns, bank statements, and ID. Lenders check your…
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10 Sep 2025
By noelkelman

Understanding the Temporary Rate Reduction Mortgage

Mortgage Tips, ,
Buying a home is exciting, but the thought of monthly mortgage payments can feel overwhelming, especially for first-time buyers. One strategy to ease the financial burden is a temporary rate reduction. This type of mortgage allows borrowers to pay a lower interest rate for the first two years of the loan before it returns to the original fixed rate. How a Temporary Rate Reduction WorksIn a temporary rate reduction, the interest rate is lowered in stages during the first two years. In the first year, the borrower pays a rate typically two percentage points below the note rate. In the…
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