Mortgages

The Price of a Home

Mortgages are often necessary to allow new homebuyers into the housing market. Real estate prices have gone up quite a bit in recent years and demand continues to outpace supply. Many Americans would not be able to afford being a homeowner at all without the use of mortgages.

New Home Buyers

New homebuyers can take advantage of FHAA (First time Homebuyers Association) loans and all the advantages that come with (given they meet all qualification). There may also be other resources available at the local and state government levels, so please always make sure to research.

Conventional 30 Year Mortgage

The conventional 30 year mortgage is the most popular loan option in the market, although more consumers have been opting for the 15 year. These loans take 30 years to payoff, hundreds of percentage points in interest and consumers typically end up paying multiples of what they borrowed.

Is Prepayment a Viable Way Out?

Prepaying your mortgage down early is a fantastic way to save thousands on interest and finish the term period for your mortgage sooner rather than later. A mortgage payment is a big responsibility and usually not the most welcome one. So, the quicker you can pay it off the better.

Buying a Home Without a Mortgage

Many consumers can feel the weight lifted off their shoulders when they finished paying down their mortgage. Home loans are necessary for many people but more and more consumers are opting to buy a home without a mortgage. As interest rates have increased from their COVID lows, it's now making more and more sense to buy a home without any mortgage, for those who can afford it. If you're in the lucky group of people who was able to buy a home with cash savings you should really be grateful! Many consumers are sick of the interest payments and are happy to buy a home using cash in order to save off the interest.