Category Archives: Mortgage

Welcome to our comprehensive guide on maximizing your mortgage interest deduction. As a homeowner, you have the opportunity to leverage tax benefits through the mortgage interest deduction, allowing you to potentially save significant amounts of money. In this article, I will delve into the intricacies of this deduction, providing insights, analysis, and actionable advice to help you make the most of it. Whether you’re a first-time homeowner or a seasoned one, this guide will equip you with the knowledge to optimize your tax savings. Understanding the Mortgage Interest Deduction:  The […]

Even though it’s exciting to begin planning your move and decorating once you’ve applied for a mortgage, there are some important considerations to make before closing. Following your loan application, there are a few things you should probably avoid. Recommended: Can I Split My Land If I Have A Mortgage? Do you need a down payment when porting a mortgage? Avoid making large cash deposits. Cash is hard to track down, and lenders need to know where you got your money. Talk with your loan officer about how to properly […]

If you have a mortgage on your property, you may be wondering if you can still split the land. The answer is yes, you can still split your land even if you have a mortgage. However, there are a few things you need to keep in mind. First, you will need to check with your mortgage lender to see if they have any restrictions on splitting the land. Some lenders may require you to get their permission before you can split the land. Second, you will need to make sure […]

When buying a home in Florida, you may be wondering if your spouse needs to sign the mortgage agreement. In most cases, the spouse does not need to sign the mortgage agreement. However, there are a few instances where the spouse’s signature is required. If you are buying a home with your spouse, both of your signatures are required on the mortgage agreement. This is also true if you are buying a home with someone other than your spouse, such as a family member or friend. If you are buying […]

If you are looking to port your mortgage, you may be wondering if you will need to provide a down payment. The answer to this question depends on several factors, including the terms of your current mortgage and the terms of the new mortgage you are looking to obtain. In many cases, you will not need to provide a down payment when porting your mortgage. However, it is important to speak to a mortgage specialist to determine what will be required in your specific case. Recommended: Does a bonus count […]

When you’re looking to buy a home, one of the first things you need to consider is whether to take out a mortgage. There are pros and cons to taking out a mortgage, and it’s important to weigh them both before making a decision. On the plus side, a mortgage can be a good way to finance a home purchase. If you don’t have the cash on hand to buy a home outright, a mortgage can help you get into the home of your dreams. Additionally, a mortgage can be […]

The Federal Reserve increased the benchmark federal funds rate by a quarter point (.25%) yesterday. As a result, some may have expected consumer mortgage rates to also rise by 25%. The Fed’s action would cause the 30-year fixed rate, which is currently priced at 6.75%, to increase to 7.00%. However, the opposite happened. The 30-year fixed rate actually decreased from 6.75% to 6.50%, or about a quarter point. How come? How can they go in different directions? Recommended: Does having an overdraft affect getting a mortgage? How a Divorce Can […]

An overdraft is a facility that allows you to withdraw money from your account even if you don’t have enough funds to cover the transaction. This can be helpful in an emergency, but it’s important to remember that overdrafts are a form of borrowing, and they can come with fees and interest charges. If you’re thinking about applying for a mortgage, you might be wondering if having an overdraft will affect your chances of being approved. The short answer is that it could. Lenders will take your overdraft into account […]

Reverse mortgages are a type of mortgage that allows consumers to borrow money against their home equity in order to purchase a property or to improve their home. When a marriage ends, the reverse mortgage borrower may no longer be able to qualify for a reverse mortgage because the home equity loan may have been used to purchase the marital home. A divorce can have a significant impact on a reverse mortgage borrower’s ability to qualify for a reverse mortgage. A spouse may no longer be able to provide the […]

Mortgages can be ported from one lender to another, depending on the terms and conditions of the mortgage. A mortgage port can be a quick and easy way to switch lenders, and can often be done online. Recommended: How Long Of A Mortgage Did Lillie Take Out? How long does it take to do a reverse mortgage? — What is porting a mortgage? When you port your mortgage, you’re essentially transferring your existing mortgage loan to your new home. Porting allows you to take advantage of lower interest rates, or […]