Mortgage points, also known as discount points or simply points, are fees paid directly to the lender at closing in exchange for a reduced interest rate on a mortgage loan. One mortgage point is equal to 1% of the total loan amount you pay. If you’re borrowing $250,000, one point would cost $2,500. But are […]
In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Let’s ease those concerns. Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the Mortgage Credit Availability Index (MCAI). According to their […]
If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own […]
Homeownership is ranked as the top accomplishment by Americans. When you purchase a house, it becomes more than just a space you occupy. It’s your stake in the community, an investment, and a place you can put your stamp on. If you’re thinking about buying a home this year, here are some of the benefits […]
If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll benefit your life. But do you know it has a large impact on your community too? To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much […]