Author: super_admin

For many people buying a home is part of the American dream but saving for the down payment might not be. So whether you are trying to buy your first home or size up for your growing family here are some tips to save for your down-payment. 1. Eliminate waste and daily splurges – if you have a smart thermostat make sure you don’t have the heat on in the winter or ac in the summer when no one is home. Consider replacing daily coffee stops with brewing at home, subscribe to services you don’t really use – eliminate some of them. 2. Budget – make a monthly budget of your spending – see where you can cut back and see how much you can save monthly. 3. Tax Return…

There are a lot of mortgage terms that we have heard a lot, but we don't always 100% know what they mean. Today we'll explain what home equity really is and how you could use it. To put it simply home equity is the amount of your house that you own. So for example if you have a mortgage loan balance of $100,000 and your home's value is $300,000 then you have $200,000 in home equity. You calculate home equity by subtracting your mortgage balance from the appraised value of the home. Your home equity is an asset and you can use it for things like cash-out refinancing, home equity lines of credit (HELOC) perhaps if you have paid your mortgage off you can also get a reverse mortgage. If…