Tehachapi's Online Community News & Entertainment Guide
Tehachapi's Online Community News & Entertainment Guide
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A Cashout Refinance is a financial strategy that homeowners can utilize to tap into the equity they have built in their homes, providing an opportunity to reclaim financial freedom. By refinancing your existing mortgage, you can replace the current loan with a new one, borrowing more than the outstanding balance with the goal of receiving a lump sum of cash. A Cashout Refinance may be able to help you: 1. Consolidate high interest debts: Homeowners burdened with multiple high interest debts,...
Truth #1: a reverse mortgage is a loan A reverse mortgage offers a way to take equity out of your home and continue to own and live in the home. The lender will make some of your equity available to you either as cash, payouts or as a line of credit. In exchange, at the end of the loan, you will owe the lender the amount you borrowed with interest. Reverse mortgage borrowers may continue living in their homes without making monthly mortgage payments as long as they also continue to uphold the...
Want to make your mortgage process go as smoothly as possible? By following these guidelines, you can be sure that your loan processing and closing are completed as quickly as possible. Don't apply or take out new credit cards, auto or personal loans or have new credit inquires in your credit bureau file during the course of your loan process and closing. Don't make any large, unverifiable and undocumented deposit or withdrawal to your checking or savings accounts. Don't quit or change...
Deciding whether to wait for potentially lower interest rates or to buy a home now depends on various personal and market factors. Here are some considerations to help you make an informed decision: 1. Current Market Conditions: • Interest Rates: If interest rates are high and expected to decrease soon, waiting could potentially save you money on your mortgage over the long term. • Housing Market Trends: If home prices are rising quickly, waiting might mean paying more for the home, even if mor...
Mortgage rates have been a central concern for homeowners, prospective buyers and investors alike. Over the past few years, predictions of lower mortgage rates have often missed the markespite various economic forecasts anticipating a decrease, mortgage rates have stubbornly remained high. This article delves into the reasons behind this trend, examining the persistent factors driving mortgage rates and why the anticipated decline hasn't occurred. Persistent Inflation Pressures One of the...
"The kitchen needs to be updated." "We need to build an additional room." "My roof needs to be replaced." "I have too much credit card debt." These are just a few of the comments I hear when a client wants more information on how they can access the equity in their home to make updates or pay off existing debt. Here are just a few of the options that Nations Lending currently can offer to help a client achieve their goal: One option is to consider a cash-out refinance. While there are differing...
Spring is the ideal time to begin searching for that new home. With the warmer weather and longer days, it is a great time to take advantage of viewing open houses to get a better idea of what type of property will suit your lifestyle and budget. However, the biggest challenge during the spring season of house hunting maybe be getting ahead of other prospective home buyers looking for that perfect home. To be one step ahead of competition, I suggest getting our Nations Lending Accelerated Edge...
This is the question most asked when meeting with a potential borrower these days. The steady climb of mortgage rates over the last 3 years has made some borrowers hesitate to purchase, thinking rates will come back down into the 3% range or housing prices will crash. Many economists will agree that to see rates in the 3% range again, it would take a major economic event that we may not wish upon ourselves as rates tend to come down when there's negative economic news. While not a 100%...
Benjamin Franklin once said that nothing can be certain, except death and taxes. Well, I am not a funeral director, but I am a mortgage lender and know how you can utilize your tax refund in a home purchase. Saving for a down payment can be a challenging task, with many unexpected expenses occurring along the way. Utilizing your tax return, however, can make that effort much less daunting. You may be able to fund most if not all your down payment depending on the total purchase price of a home...
