Phoenix, Arizona
Buying a home secures your piece of The American Dream. However, renting a home or an apartment doesn’t provide any equity for you or your family. Homeownership enables you to build wealth versus paying off your landlord’s mortgage loan. Why Should You Buy a House? Purchasing a house will enable you to create a home…
HELOC, short for Home Equity Line of Credit, is a popular financial tool that allows homeowners to tap into the equity they've built up in their homes. It's like having a flexible credit card tied to your home. Sounds intriguing, right? Well, let's break it down and see what benefits and drawbacks come along with…
Purchasing a home is a significant financial decision, and one of the most critical factors is obtaining a mortgage. The process of getting a mortgage can be daunting and complex, and one of the first steps is obtaining a pre-approval. A pre-approval is essentially a lender's guarantee that they are willing to lend you a…
As a prospective homebuyer or homeowner, one of the most crucial decisions you will make is locking your mortgage rate. It is a decision that can have a significant impact on your finances for years to come. This decision is even more critical now as mortgage rates have been fluctuating in recent months due to…
Think Twice Before Waiting for 3% Mortgage Rates Think Twice Before Waiting for 3% Mortgage Rates | MyKCM Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last…
Jumbo loans are quite common now. As home prices have skyrocketed, the number of borrowers who need larger loans has also increased. A jumbo loan is a mortgage that exceeds the conforming loan limit set by the federal government every year. Jumbo loans can be used for primary homes, second or vacation homes or investment…
When you’re self-employed and you want to buy a home, you fill out the same mortgage application as everyone else. Mortgage lenders also consider the same things when you’re a self-employed borrower: your credit score, how much debt you have, your assets and your income. It is true that self-employed homebuyers do have to jump…
The Federal Reserve raised its benchmark interest rate .75% in September and concerns over how this would affect the personal finances of millions of Americans started to arise. While an increase in rates may help tame inflation, they don't always help consumers. However, some homeowners may still benefit from mortgage refinancing. In fact, even with…
Over the last year the average homeowner in the United States gained roughly $64,000 in equity due to home price appreciation. Now, whether you’ve just retired or you’re thinking about retirement, you may be considering your options for this whole new stage of your life. Here are a few ways that you can go about…
Over the last five years, a surge in home prices has created substantial wealth for the middle class. According to the latest Homeowner Equity Insights from CoreLogic, the average homeowner’s equity has grown by $64,000 just over the last 12 months alone. Since there’s an ongoing imbalance between the number of homes available for sale…
