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Monthly Archives: April 2011

Get More for Your Home with These Quick Tips

It's easy to pump up your home's value if you're planning to put it on the market. Think about how it looks to another person who might drive past or walk through the house. Putting yourself in the buyer's shoes can help you see things you never noticed before. Just follow these tips to add extra dollars to your final sale price. 

Should You Buy Discount Points to Lower Your Interest Rate?

If you are in the process of applying for a home loan, you have the option to buy mortgage discount points. These points are fees paid in exchange for receiving a lower mortgage rate. One point usually costs one percent of your loan. For example, for a $200,000 loan one discount point equals $2,000.  Each discount point paid on a 30-year fixed loan generally reduces the interest rate by 0.125%.  For example, a 5.0% rate would be lowered to 4.875% with the purchase of one discount point.  Many lenders will allow you to purchase anywhere from one-half to four points or more.

Consolidate Debt and Reduce Your Monthly Payments

Financial responsibilities can weigh you down as you try to pay your bills on time every month. One possible solution is to apply for a debt consolidation loan, a single loan that you can use to pay off all of your other debt, such as credit cards and auto loans.  Here are three good reasons to consolidate your debt right now: 1) the convenience of one monthly payment, 2) a lower overall interest rate resulting in lower monthly payments and reduced interest expense, and 3) an improved credit score.

Is Now the Right Time to Refinance?

If you're toying with the idea of refinancing your mortgage, you may be wondering if now is the right time.  After all, interest rates are still flirting with historic lows! And who couldn't use some extra money in their pocket each month from a lower payment?  There are four questions you need to consider before signing on the dotted line.

9 Ways You Can Save Money Right Away

You'll be surprised how much money you can save by tightening your belt a little. Short of checking inside the couch for coins, here are nine tips guaranteed to save you money.

Top 5 Reasons To Buy A Home Today

If you are a renter thinking about buying your first home you might be hesitant to enter the market. That is understandable given the state of the economy and the hit that the real estate market took over the past few years. But there are strong reasons to buy a home now. Here are five of the best:

What Is A Reverse Mortgage and How Does It Work?

A reverse mortgage enables you to withdraw a portion of the value of your home in cash. In essence, your home pays you.

Because they never have to be repaid for as long as the homeowners live in their homes, reverse mortgages are a popular way to secure a comfortable retirement.

FHA 203k Streamlined Mortgage – Great For New Home Buyers

You've found a home, but it's a little rough around the edges. Where can you turn? Now, you can transform any home from "as is" into "exactly as it should be" with an FHA 203(k) loan.

FHA's 203(k) program enables homeowners to finance additional money into their mortgage to improve or upgrade their home. With this new product, you can quickly and easily tap into cash to pay for property repairs or improvements.

With interest rates lower than they've been in years, now is the perfect time to take advantage of FHA's 203(k) Rehab loan. This innovative program enables you to purchase or refinance a home plus roll the cost of improvements into one monthly mortgage payment - with only one closing!

What Determines My Credit Score?

Your "credit score" is more than just a number. It represents your ability to borrow to buy the things that matter in your life, and even get a job. A great score can help you get a lower interest rate on a loan. A not-so-good score can saddle you with higher monthly payments.  A poor one can result in loan denials.

So, if buying a home, car, or any major purchase is important to you, understanding everything you can about managing your credit score is equally important.