08 Nov 2023
By noelkelman
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Understanding Assumable Mortgage Loans

Mortgage Tips, ,
Mortgage loans are an essential aspect of financing the purchase of a property. Among the various types of mortgages available, one option that may be advantageous for both buyers and sellers is an assumable mortgage loan. An assumable mortgage loan is a type of home loan agreement that allows a homebuyer to assume the existing mortgage of the seller when purchasing a property. In other words, the buyer takes over the seller's mortgage terms and conditions, including the interest rate, repayment schedule, and remaining balance. Benefits of an Assumable Mortgage Loan: Favorable Terms: Assumable mortgages often carry lower interest rates…
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07 Nov 2023
By noelkelman
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The Role of A Down Payment: How Much Should I Save?

Home Mortgage, ,
Buying a home, a car, or any significant investment often involves making a down payment. The down payment is a crucial part of the purchasing process, as it can impact your loan terms, interest rates, and monthly payments. But how much should you save for a down payment, and why is it so important? Understanding Down Payments A down payment is a portion of the purchase price that you pay upfront when buying a house, a car, or making a large investment. It's a way to demonstrate your commitment to the purchase and reduce the risk for the lender or…
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19 Oct 2023
By noelkelman
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Understanding Why You Don’t Need to Pay Off Your Mortgage Early

Mortgage Tips, ,
In the world of personal finance and homeownership, there's a common debate: should you pay off your mortgage early, or is it better to take a more relaxed approach to your home loan? While the idea of being mortgage-free is undoubtedly appealing, there are compelling reasons why you might not need to rush to pay off your mortgage ahead of schedule. Tax Benefits: Mortgage interest payments is a tax deduction that can help reduce your taxable income, potentially lowering your overall tax bill. Before you rush to pay off your mortgage, consult with a tax professional to determine how this…
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17 Oct 2023
By noelkelman
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3 Important Tips When Making a Down Payment for a Home

Home Mortgage, ,
When it comes to purchasing a home, one of the most significant financial decisions you'll make is how much to put down as a down payment. Your down payment not only affects the amount you need to borrow but also plays a vital role in determining your mortgage interest rate and overall financial stability. Here are three crucial tips to keep in mind when making a down payment for a home: Determine Your Budget and Financial Goals: Before you start setting aside money for a down payment, you must understand your budget and financial goals. Assess your current financial situation,…
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10 Oct 2023
By noelkelman
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Why You Should Compare Different Mortgages

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Comparing mortgages is a crucial step in the process of buying a home or refinancing an existing mortgage. Here are some reasons why: Save Money: Comparing mortgages can help you save money by finding the best interest rates and terms available. A lower interest rate can mean thousands of dollars in savings over the life of a mortgage. Avoid Pitfalls: By comparing mortgages, you can avoid pitfalls such as hidden fees, penalties, or other unfavorable terms that can cost you money and cause financial stress. Negotiate Better Terms: If you have a good understanding of what's available in the mortgage…
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04 Oct 2023
By noelkelman

Buying or Selling a Home This Winter? Keep These Tax Tips in Mind!

Homebuyer Tips, ,
With all of the expense that can go into buying and selling a home, it's good to be aware of what you can claim and how a home can benefit you come tax time. When the New Year rolls around and you're sitting down to the task of completing your taxes, here are a few things that you'll want to keep in mind. Gaining from Capital Gains In the event that you've made money off the sale of your home through a capital gain, it's possible that you may be able to exclude this amount from your tax filing. If…
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28 Sep 2023
By noelkelman

A Quick Look at Reverse Mortgages: The Golden Ticket to Enjoying Your Golden Years

Home Mortgage Tips, ,
With a high volume of millennials set to enter the real estate market this year, it may seem like all the available options out there were created to snag new home buyers. However, there are products available on the market that cater to those who are in their golden years too. If you're older than 62 and are currently weighing the options with your mortgage, here are the basics on reverse mortgages and why they might positively benefit you. The Scoop On Reverse Mortgages It may seem like this mortgage option hasn't been around that long, but it was actually…
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28 Sep 2023
By noelkelman

A Quick Look at Reverse Mortgages: The Golden Ticket to Enjoying Your Golden Years

Home Mortgage Tips, ,
With a high volume of millennials set to enter the real estate market this year, it may seem like all the available options out there were created to snag new home buyers. However, there are products available on the market that cater to those who are in their golden years too. If you're older than 62 and are currently weighing the options with your mortgage, here are the basics on reverse mortgages and why they might positively benefit you. The Scoop On Reverse Mortgages It may seem like this mortgage option hasn't been around that long, but it was actually…
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