If the plural of tooth is teeth, why isn’t the plural of booth, beeth? One goose, two geese. So one moose, two meese? Doesn’t it seem crazy that you can make amends but not one amend? If you have a bunch of odds and ends and get rid of all but one of them, what do you call it? Likewise, figuring out which mortgage program you qualify for can be just as twisted. Let me shed some light on many of the common terms you may hear as you embark on the mortgage process.
There has been a massive refi boom over the last month due to low rates, so you’re wondering, “Should I refi too? Will rates go lower?” If you go look at rates now, it’s likely they won’t be as low as you expected. Not only are we going to explain why, we’re going to show you why NOW is the time to refinance because rates are set to go UP!
Buying your first home could be both exciting and stressful at the same time. Like everyone else, you want to make sure that you’re getting the best deal out of your hard-earned funds that you saved for several years. As you ask relatives and scour the internet for information, you’ll probably get the idea that applying for a mortgage could be a challenge. Before you begin your homebuying journey, it’s important that you know the important people involved and understand their roles as you search for your dream home.