Adjustable-rate mortgages are not the right choice for many homeowners, especially if they plan to own the home for a long time. Less than 3% of buyers choose an adjustable-rate mortgage according to NAR's 2021 Profile of Home Buyers and Sellers. With fixed-rate mortgages hovering in the mid 4.00% range, it's understandable that people select a rate that will not change over the term.
The Dynamics of Home Equity
Remodeling As It Relates To Value
While updating and remodeling certainly make a home more enjoyable and livable and increase the value, homeowners should not expect to recover 100% of the remodeling cost. Although remodeling and updating certainly make a home sell faster, some of the expenditures will not return their total cost, although some return more than others.
Assumptions Make Sense Again
Waiting Will Cost More
Why a Home Should Be Your First Investment
Paying Points to Lower the Rate
I wish I knew then...
We have all heard this expression that implies that had a person known earlier in life what they know now; they would have done things differently. The subject possibilities are endless. While no one has a crystal ball to see into the future, it may be possible to learn from people who have experienced similar situations.
Your Home is a Hedge Against Inflation
Inflation is concerning because of the sustained upward movement in the overall price of goods and services while the purchasing value of money decreases. Tangible assets like your home consistently become more valuable over time. Your home is a good investment and a hedge against inflation in inflationary periods.
Uncle IRRRL Wants to Refinance your VA Loan
You don't have to have an Uncle IRRRL, but you must be a veteran with a current VA-backed home loan. IRRRL is an acronym for Interest Rate Reduction Refinance Loan. To refinance with this program, also called the VA Streamline, the loan must provide a net tangible benefit (NTB) in the Veteran's financial interest.