Author: super_admin

If you are considering refinancing before rates go up to pay off other debts like credit cards, here is a quick overview. The average American has nearly $40,000 in debt not including home loans so today we ask if you consider a cash-out refinance to pay off other debts like credit card debt. Credit card interest rates are normally much higher than mortgage interest rates and if you are carrying high credit card debt while making minimum payments, there is an opportunity to save a lot in monthly credit card payments that are primarily going to pay high interest rates on the debt. First you will need enough equity in your home to get a cash-out refinance. With real estate values rising many people have seen their home value rise…

If you’re looking for a new house, many realtors want a pre-approval in advance. Plus its good for you to know how much you can afford and if there are any issues, you will know in advanced instead of an unexpected last minute surprise! 1. Proof of Income This is usually W-2 statements but also includes any other sources of income like bonuses or alimony. 2. Proof of Assets This will include bank and investment account statements. If you are receiving a money from a relative or friend you may also need a gift letter from them. 3. Credit Score Your credit score will be an important factor on the down payment and interest rate on the loan. 4. Employment Verification Lenders may call your employer to verify employment, or…

In today's market of rising home prices, many people are considering buying a fixer-upper. We’ve all seen the home make-over shows with amazing before and afters but should you do it? Here are a few things to consider: 1. Know Your Limits How much of the work can you do. How much time do you have to put into renovations. Are you prepared to live in a work zone for a while 2. Work Out Costs In Advance Have a contractor walk through the inspection with you and get a written estimate for work he would do. If you are doing the work yourself price the costs of supplies, either way add 15% to the costs because surprises are likely. 3. Check Permitting Costs and Procedures Check with local officials…