Unlocking the Value of Your Home: The Power of a Home Equity Line of Credit Introduction: Picture this: John and Sarah, a young couple in their mid-30s, recently realized that their home could be more than just a place to live—it could be a key to financial flexibility. Like many homeowners today, they were exploring […]
When you purchased your home, it felt like a dream come true. Now, it feels like you’re waking up to a not-so-rosy reality. Why is that so? You may be outgrowing your home. As a household’s size, preferences and priorities change over time, a once ideal living space can start to feel unlivable. Upgrades and […]
In 2022, the prime rate went up by 4 points, going from 3.5% to 7.5%. This happened because the Federal Reserve wanted to better manage inflation. By July 2023, the prime rate had gone up to 8.5% But what does all of this actually mean? What is the prime rate, and how does it impact […]
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Homeownership is a significant milestone in many people’s lives. It’s not just about finding the perfect house; it’s also about ensuring that your finances are in order to support this long-term commitment. This newsletter will help guide you through some essential steps to prepare your finances for homeownership: 1. Assess Your Financial Situation: Calculate your monthly […]
More than 43 million Americans have student loans. So if you’re hoping to buy a home with student loans in tow, you’re not alone. Fortunately, student loans are treated just like any other debt when applying for a mortgage. While having lots of debt can certainly make the process more challenging, it doesn’t disqualify you […]
Low-income, first-time homebuyers may qualify for a low-interest, deferred payment loan of up to 17% of the purchase price for down payment assistance and 4%, up to $10,000 in closing costs assistance. Overview The loan funds must be used to pay a down payment and closing costs on the purchase. The home you buy must […]
Homeownership can be a pathway to building generational wealth — in fact, owning a home is so closely linked to long-term stability that it’s been one of the few life goals that’s just as common today as it was 50 or even 100 years ago. But how does homeownership help families build wealth? What makes […]
Refinancing is common practice for homeowners, and it’s often a smart financial move. It can lower your payment, reduce your interest rate and more. But when it’s not the right time to refinance, it can be an unnecessary effort or even result in extra costs. When should you think about refinancing, and when should you […]
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