By now we have all heard that there are new mortgage rules.** The intent of some of the new rules is to ensure that homebuyers can handle an increase in interest rates—essentially a stress test. However, this means that many first-time and high-ratio buyers will no longer qualify for the mortgage amount they want. If […]
Refinancing Your Mortgage…Points to Consider
Refinancing your mortgage basically means that you are paying off an existing loan and replacing it with a new one. Make sure that you do your research and know your numbers before refinancing so that you know if it actually makes financial sense for you to do so. Advantages of refinancing your mortgage […]
