Review Mortgage Lenders

New Equity Mortgage

Irish Negative Equity Mortgage - A New Beginning

A different way of looking at an Irish Negative Equity Mortgage from www.newbeginning.ie I posted this video because RTE take down their ...

Millennials have officially entered the housing market

According to the company, affordability is such a huge factor for Millennial homebuyers that many are moving to housing markets that previous generations considered less desirable, including Buffalo, New York. Interestingly, this metro is the top affordable market for Millennials.

“Within the last year, Millennials have moved to affordable areas with strong job markets where they have more buying power,” the company writes. “At the end of 2018, the median price of a mortgaged home purchased by Millennials was $238,000, $26,000 less than the median price of a home mortgaged by Baby Boomers and $51,000 than Generation X.”

Realtor.com notes in addition to increasing their buying power and taking on larger mortgages, data reveals Millennials have consistently made lower down payments than other generation since 2015.

In fact, Millennial down payments averaged only 8.8% in December 2018, compared to 11.9% for Generation X and 17.7% for Baby Boomers.

Can a new home equity loan amount be larger than your mortgage balance?

We currently have a home equity loan and a mortgage, but want to pay off credit card debt.


You should be able to technically do this as long as the new home equity loan + the 1st mortgage are not more than 85% of the home's total value. This is generally the cap.

So if you have a home that's worth $200,000: 85% of that is 170,000.