As top Texas mortgage lenders, we know that if you’re considering a mortgage refinance, you’ll hear plenty about equity throughout the refinance process. The amount of equity you have in your home can affect your options when refinancing your home loans.
- Maybe you want to tap into your home’s equity to cover a loss of income.
- Perhaps using your home’s equity can help you fund a renovation project or finance another expense.
- As you begin the refinancing paperwork, you’ll need to understand how much equity you currently have in your home.
As Texas home lenders, we know it might be strange to think of our kids being old enough to buy a house—but as baby boomers grow older, their kids do too! Millennials are no longer the “youngsters” we used to think of as lazy or unmotivated. They’ve grown up into working adults—and now Generation Z is here, too.
- Generation Z’s young adults were born starting in 1997.
- Some of the “eldest” people who fall into the Gen Z group turned 22 years old this year.
- They’re leaving college and entering the workforce.
- Staring adulthood in the face, they’re beginning to think of their careers, family, and future.
When you’re working toward buying a home, you want the financing process to go quickly and smoothly. One way to make that happen is to make sure you understand the terminology behind your mortgage—and how different aspects of your financial and credit history can impact your home loan process.
If you’re a first time home buyer, choosing the right Texas home lenders can help make the mortgage process a better experience for you! They can help you understand a concept known as the debt-to-income ratio (DTI) and how it affects your credit score and your ability to qualify for a mortgage.
Now that you’ve decided to make the move to a new home in Waxahachie TX, you’re probably wondering what the mortgage rates are like. You might also be curious if your rates in Ellis County are better than other locales in Texas.
Surprise! The components that determine your mortgage rate aren’t as related to location as you might think. Let’s explore this question in depth while we cover some information about mortgage rates in Waxahachie TX.
Buying a new home is an exciting life event! Whether you are just starting with your first home or moving from one house to another, being prepared in advance for the many steps involved before your big move-in day can make the process much more rewarding.
Updated and republished 04/22/2020.
If you are currently paying down a home mortgage during COVID-19, you may have considered refinancing it. Mortgage refinancing allows you to reduce your monthly payment and save on interest! There are a variety of reasons people opt to refinance their mortgages—especially if you plan to hunker down at home sweet home long term! However, it’s important to know some basic information about refinancing to make sure it’s a smart money move for you.
If you’re wondering if refinancing your mortgage is the right move to make, read on for the crucial details you need to know about the refinancing process from the HomeSoon Lending Team!