How to know if you should borrow against your home equity
Amassing equity by paying down the mortgage on your property is a good thing. Equity refers to the amount of your home that you own. If your home is valued at $200,000 and you owe $100,000 on your mortgage, that means you have $100,000 in equity. One of the benefits of equity is that you can borrow against it. The question is, should you?
A few things to know about getting pre-approved for a mortgage
Getting pre-approved for a mortgage is an important final step when house hunting. This shows the sellers that you’re a serious and capable buyer. Here are three other things to know about pre-approved mortgages.
What to do before refinancing your mortgage
Refinancing your mortgage can be a great way to save money. You can potentially reduce your interest rate, your monthly payment and the total you’ll pay overall on the loan. Here’s how to navigate the refinancing process if you’re thinking of taking the plunge.
If you’re on the fence about selling your home, we have a stat that might interest you. A study from the National Association of Realtors found that the median home price was $303,900 in January 2021 — a 14 percent jump compared to January 2020. The message? It’s a seller’s market. Here are some other things to consider if you’re ready to sell your home.
According to a recent study of Generation Z young people ages 18 to 25, buying a home remains top-of-mind even during the pandemic. The report found that 83 percent of Gen Z dream of buying a house within the next decade. However, the reality of the market and their financial situation is making things difficult for them.
Four questions to ask yourself before you refinance your mortgage.
With mortgage rates at their lowest point in years, you might be asking yourself if now is a good time to refinance your home loan. You’re not alone. According to the Mortgage Bankers Association, in early February, the volume of refinanced loans was at the highest level since 2013. Here are four questions to ask yourself before you join those homeowners who refinanced.
Refinancing your home is a big step to take. Before jumping into the refinancing process it is important to know exactly what you are doing, what your end goal is, and what additional details go along with the process. Start by meeting with your financial institution and discuss the questions below before following through with refinancing.
GSCU recently began holding First-Time Homebuyer Seminars at local breweries in Manchester, NH. Sema Costa, a Branch Specialist for GSCU, attended the first seminar with her husband is sharing her experience for our members!
Buying a home is often a long and stressful task. There are many options that you, and the seller, must navigate through. Deciding on location, finding the house, financing a huge investment – all of it leaves you with questions, including, what steps are actually required in home buying process?
The “tiny home movement” has been taking the Country by storm over the past few years. There are television shows dedicated specifically to this new trend, numerous magazines have featured tiny homes and, according to a survey done by the National Association of Home Builders, more than half of Americans would consider living in tiny homes.