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Smart Choice Mortgage

Why is taking out an Aussie Personal Loan a Smart Choice?

We ask John Symond why taking out an Aussie Personal Loan is a smarter choice for managing larger loan amounts than common alternatives such as a ...

A Home Equity Loan Is a Smart Choice as Rates Rise

In recent years, home equity loans have gone the way of boy bands. So last-century. In an era of low interest rates, home equity lines of credit and cash-out refinances have been the equity-tapping products of choice.

Home equity lines of credit, or HELOCs , have been popular because they usually are built with low introductory rates, which have been scraping the bottom. Cash-out refis have been sought because with mortgage rates at a historical floor, millions of homeowners have been refinancing to lower their rates and tap the equity in their homes.

Plain-and-simple home equity loans, with the security of a locked-in interest rate that never changes, have been yesterday’s news. But as the economy improves and interest rates rebound, you may have to go throwback if you want to access some of your home value.

Regulation stalled home equity loans

At least some of the blame for the missing home equity loans can be placed on regulation. Dodd-Frank, the wide-ranging financial reform act instituted in 2010, mandated that lenders revise statements and disclosures for home equity loans, but not for HELOCs.

Lessons From Energy and Efficiency Improvements to 100000 Homes

The idea behind HERO is simple: to help homeowners invest in their homes to save energy or water, or to make their most valuable investment — their home — safer and more resilient to extreme weather. It’s a form of financing called PACE, or Property Assessed Clean Energy, and it gives homeowners access to private capital to make improvements that advance public-policy objectives, like expanding access to clean-energy technologies, improving neighborhoods and stimulating growth.

HERO is offered in partnership with local governments, and homeowners who use it pay back their financing through an additional line item on their property taxes. Eligibility is primarily based on equity in the home and the homeowner’s tax and mortgage payment history.

Home improvement needed improving.  The first thing we learned when we launched HERO just over five years ago is that people needed more than financing. They needed peace of mind, and better control of the process as they made an investment in their homes to save energy or water.

Can I still Refinance If I'm Self Employed? I have an Option ARM mortgage and am afriad of rising rates!?

I JUST started my own business and bought a new house and between the two I'm kinda broke. Started the business about 6 months ago and I've been moved in here now for about 12 weeks now.

First of all, don't worry about your ARM going up unless you are getting close to the adjustment date. If you have a 3-year ARM and you just go it, you have 3 years to not worry. Make sure you understand the terms and dates of your ARM.