Author: Regan Hagestad

Can Refinancing a Mortgage Hurt My Credit?

Regan Hagestad October 30, 2017

Refinancing your mortgage presents a great opportunity to save money by lowering your interest rate and monthly payments. If interest rates have fallen since you originally obtained your mortgage, or if you’ve diligently worked on repairing your credit and improving your credit score, you might benefit from exploring your options for refinancing. Before you do, it’s important to consider whether refinancing

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What’s the Ideal Credit Score for Landing a Mortgage?

Regan Hagestad October 23, 2017

Considering making the leap to homeownership? There’s more to think about than the curb appeal of those homes you’re eying—the health of your credit score tops the list. To many, a credit score seems like a random trio of numbers determined by a complicated algorithm, but it represents much more to a lender who’s considering whether to approve your mortgage loan.

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Mortgage Rates Jump

Regan Hagestad October 16, 2017

Freddie Mac’s most recent Primary Mortgage Market Survey shows the average 30-year fixed mortgage rate posting its biggest week-over-week increase since July 2017. “The 30-year mortgage rate increased for a second consecutive week, jumping 6 basis points to 3.91 percent,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield also rose, climbing 4 basis points this week.” Here, a look

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Ten Ways to Get the Lowest Mortgage Refinance Rates

Regan Hagestad October 9, 2017

Thinking about refinancing your mortgage? If so, you probably are hoping to find the lowest interest rates. Before you begin shopping around, however, experts suggest establishing your intentions and preparing your finances to improve your chances of qualifying. Here, 10 steps from HSH.com that can help lock in the lowest refinance rate possible. 1. Raise your credit score Most lenders

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Financial Tips for Purchasing a Home

Regan Hagestad October 2, 2017

Planning on buying a home? Here, RealtyTimes offers a few financial tips that can help you not only qualify for a loan, but get the best possible rate as well. Don’t pay off all of your current credit cards Your lender will tell you specifically what you should pay down and what you should leave alone, but banks tend to like responsible

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closing Fees

Is a Mortgage Pre-Approval Letter Necessary to Make an Offer on a House?

Regan Hagestad September 29, 2017

The short answer is, “No.” However, if you want your offer to be taken seriously and to stand out from any competing bids, this little piece of paperwork can really give you the edge. Here, Realtor.com explains the mortgage pre-approval process and why it’s necessary. What is mortgage pre-approval? Basically, a mortgage pre-approval letter is a guarantee from a lender that it’s willing to finance your home

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How to Buy a Second Home

Regan Hagestad September 18, 2017

If you have been thinking about buying a second home, now could be a good time to take the leap. Interest rates are still low, and home prices are rising but within reach. Here, BankRate offers some tips is you’re ready to buy a vacation home. 1. Scout the market One way to start the search for a second home is to

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What Are Mortgage Points? And Should You Pay Them?

Regan Hagestad September 11, 2017

When people want to determine how much their mortgages cost, lenders often give them quotes that include loan rates and points. Here, Bankrate explains what mortgage points are and whether or not you should pay them. What exactly is a point? A point is a fee equal to 1 percent of the loan amount. A 30-year, $150,000 mortgage might have

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Seven Ways to Get the Best Mortgage Rate

Regan Hagestad September 5, 2017

The day has come: It’s time to buy your first home. But, the average home costs more than $260,000, and since you likely don’t have that kind of cash sitting in a savings account, you’ll need to borrow most of that amount from a lender and spend a decent portion of the rest of your life paying it back, plus

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Five Ways—and Reasons—to Refinance Your Mortgage

Regan Hagestad August 28, 2017

Although mortgage rates have rebounded some from the lows seen in 2016, they remain very attractive, and many homeowners are refinancing in case rates increase. You can save money by doing a simple refinance in which you swap a lower rate for your existing higher rate. But that’s just one way—and one reason—to refinance. Here, RISMedia offers at least four

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