Are you planning on buying a larger home or downsizing this year? Before you start your search, take the time to understand the mortgage landscape. Getting the right loan can be as important as the home itself. The last thing you want to do is pay unnecessary fees or take on loan terms that might hurt your finances.
As a not-for-profit financial cooperative, SchoolsFirst FCU provides affordable solutions to help you achieve the dream of homeownership. Because we return profits after expenses to Members in the form of lower interest rates and low or no fees whenever possible, we offer highly competitive mortgage solutions, along with expert guidance to help you make the most of your money. Continue reading
Contrary to what you may think, signing up for a mortgage loan doesn’t mean you’re trapped in that rate or term.
Knowing when to refinance, for instance if rates change or events arise that prevent you from paying as you had planned, can help you understand how to cut your costs or tap into your home’s equity.
There are plenty of moving parts when it comes to buying and owning a home. It’s no surprise then, that the terms that go along with the process might be a tad confusing, especially when people bandy around acronyms.
Take heart — you can get up to speed on the definitions in no time.
Here’s a baker’s dozen of some common real estate terms you need to understand when navigating the homebuying process.
Making the decision to become a homeowner is emotionally and financially complex. Here are some key things to ask yourself if you’re considering whether buying is right for you.