Understanding the Basics When you’re deciding between a 15-year and a 30-year mortgage, it’s important to understand the fundamental differences between the two. A 15-year mortgage generally involves higher monthly payments but allows you to pay off your home more quickly. Conversely, a 30-year mortgage offers lower monthly payments but takes longer to pay off, […]

Understanding Reverse Mortgages A reverse mortgage is a distinct type of financial product that allows homeowners to convert a portion of their home equity into cash, predominantly aimed at individuals over the age of 62. This unique financial solution is primarily designed to provide retirees with a reliable income source, while allowing them to continue […]

Understanding Mortgage Term Lengths When deciding how long your mortgage term should be, it’s essential to consider several factors. The mortgage term length will impact your monthly payments, the total cost of the loan, and how quickly you build equity in your home. Common mortgage terms range from 10 to 30 years, with the 30-year […]

The Link Between Inflation and Mortgage Interest Rates Inflation is commonly understood as the rate at which the general level of prices for goods and services increases, effectively diminishing the purchasing power of currency. This occurrence can have a marked effect on economic elements, such as mortgage interest rates. For both homebuyers and homeowners, understanding […]