Mortgage

If you are in the position to pay off your mortgage early, it is best first to ask your lender if there are any prepayment penalty charges. Most mortgage lenders charge a prepayment penalty when borrowers pay off their loan balance before the final payment's due date. Depending on how long the loan has been...

Inflation has become an increasing problem across the country in recent days as the American economy continues to struggle under the weight of Covid-19. Many people are looking for ways to help improve their financial status, including potentially refinancing their mortgages.  In 2020, mortgage rates fell to an immense low point. Many people choose to...

There's no time like the present, as the old saying goes. The mortgage refi industry has seen impressive trends where current rates are concerned. Feeding off the consumer-friendly momentum of 2020's final quarter, we've seen mortgage rates hit record lows over the last six months. In fact, those numbers peaked early in 2021, with average...

Mortgage rates hit a historical low in 2020, prompting homebuyers to get a new or additional home and homeowners to refinance their homes to lower their interest rates. This phenomenon was brought about by the steady increase in mortgage-backed securities that pushed rates lower than the average. However, it won't last forever. In fact, despite...

Before refinancing your home to get a more favorable interest rate, there are several things to consider. If the timing is right, you can save a significant amount on your monthly payments. Lenders look at various factors to determine your interest rate; chief among them are debt-to-income ratios, credit scores, and the type of home...

As a homeowner who makes mortgage payments every month, you might be interested in refinancing your house to purchase a second home. This new purchase could be for a fun vacation spot for the family or new investment property. Regardless of the reasons, refinancing might be for you. If you think that refinancing might be...

Regardless of if you have recently refinanced, there are options available to take the next step in obtaining the home of your dreams. Many people refinance for various reasons: utilizing home equity, shortening the length of a loan, making payments more affordable, and much more.  Purchasing a home after refinancing is a popular option that...

Are you interested in obtaining a mortgage on a house you currently own? It is possible to get a mortgage on your home. We’re here to help answer your questions. Knowing you can use your house as collateral for a loan is one thing. But what do you need to do to get the loan?...

Owning a home is a dream for many. However, purchasing one is a complex process. From making an offer to negotiating closing costs, the financial aspects of home-buying can be frustrating for even the savviest shopper.  However, one thing that shouldn't feel challenging should be figuring out the income you need to qualify for a...

Much about the home-buying process can be confusing. When you add mortgages to the mix, it can become even more challenging. From interest rates to closing costs, it can be tough to keep track of everything it takes to become a homeowner. Unfortunately, being prepared for everything is next to impossible, and sometimes life can...

Securing a mortgage may seem like an unattainable goal for individuals making $20,000 to $30,000 a year; however, the difficulty isn't necessarily true. While your income does play a role in a lender's decision-making process, there are many other factors that a lender considers before a mortgage is granted. To help you better understand how...

The news of plummeting interest rates has many Ohio individuals and families considering the purchase of a new home or refinancing their current property. This unpredictable and unexpected year has resulted in the lowest interest rates on record in the last 50 years. Will they stay that way? It’s hard to tell.  The worldwide pandemic...

Homeownership is one of the most significant financial choices that many people make. For Kentucky residents, achieving this dream is much easier than for residents in other areas. This is because Kentucky is known for being one of the most affordable states when it comes to house prices. On top of the affordability of homes,...

KENTUCKY - Stephen C. Netherton, of Louisville, has been sentenced to 24 months in prison and ordered to pay $870,000 in restitution by U.S. District Judge Charles R. Simpson III, announced David J. Hale, United States Attorney for the Western District of Kentucky.  Netherton pled guilty to charges of engaging in a conspiracy to commit...

KENTUCKY – The distressed condition of the national housing market, paired with high unemployment, has created a fertile environment for unscrupulous fraudsters seeking to take advantage of desperate homeowners.  Many homeowners who turn to loan modification or foreclosure “rescue” companies for help ultimately find that they have been scammed. An emerging trend in recent months...

KENTUCKY — This week, Dave gives advice on rental property debt. Dear Dave, I have a rental property that I still owe some money on, and I’ve just begun Baby Step 2 of your plan. Should rental property debt be included in the debt snowball? Matt Dear Matt, No, it shouldn’t. Baby Step 2 of...

KENTUCKY — In this week’s Dave Says, Davie discusses mortgage expense versus being debt free. Dear Dave, I’m 28, single, and I just became debt-free. In addition, I make $70,000 a year and have the equivalent of six months of expenses set aside for emergencies. Should I save up to pay cash for a house,...