28
Aug
By Todd Grey
Mortgage Tips, ,

What Homeowners Should Know Before Removing Mortgage Insurance

Mortgage insurance can make homeownership accessible with a smaller down payment, but many homeowners eventually wonder whether it can be removed. The answer depends on the type of mortgage you have, your loan balance, property value, payment history, and the rules that apply to your specific loan.Understanding those factors can help you know what questions to ask your loan servicer. Start by Identifying Your Loan TypeMortgage insurance does not work the same way for every mortgage program. Conventional loans may have private mortgage insurance, commonly called PMI, while government-backed loan programs can have different types of mortgage insurance and different…
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27
Aug
By Todd Grey
Mortgage Tips, ,

How a Large Down Payment Can Affect More Than Your Monthly Payment

When buying a home, it is natural to assume that putting as much money down as possible is always the best financial decision. A larger down payment can provide meaningful advantages, but it also affects more than the size of your monthly mortgage payment. Understanding the broader impact can help you decide how much cash makes sense to use at closing. A Larger Down Payment Reduces the Amount You BorrowThe most obvious benefit is a smaller loan balance. Borrowing less generally means a lower principal-and-interest payment and less interest paid over the life of the loan, assuming the other loan…
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26
Aug
By Todd Grey
Mortgage Tips, ,

Why the Amount You Qualify For May Be Different From What You Should Spend

Getting approved for a mortgage can be exciting, especially when you discover how much financing may be available to you. But the maximum amount you qualify to borrow and the amount you are personally comfortable spending are not necessarily the same. Understanding the difference can help you choose a home that supports your lifestyle as well as your finances. Mortgage Qualification Uses Specific GuidelinesLenders evaluate factors such as income, debts, credit history, assets, and the proposed housing payment when determining how much you may qualify to borrow.These calculations are designed to evaluate lending risk and your ability to meet certain…
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25
Aug
By Todd Grey
Mortgage Tips, ,

What Happens to Your Mortgage When Property Taxes Are Reassessed?

A fixed-rate mortgage provides predictability because your interest rate and principal-and-interest payment remain consistent. However, that does not necessarily mean your total monthly housing payment will stay exactly the same. Property taxes can change over time, and when they do, homeowners who pay taxes through an escrow account may see their monthly mortgage payment change as well. Why Property Taxes Are ReassessedLocal governments use property assessments to help determine how much homeowners owe in property taxes. Depending on where you live, reassessments may occur periodically, after a property is sold, following major improvements, or because of changes in local property…
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24
Aug
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – August 24th, 2026

The latest FOMC minutes reinforced the Federal Reserve’s continued focus on price stability, with policymakers voting to maintain the current federal funds rate for the time being. However, the path forward remains uncertain, particularly as persistent inflation continues to complicate the case for additional rate cuts. In fact, several policymakers have indicated greater concern about inflation and favored tighter monetary policy at the most recent meeting. With the more recent departure of former Fed Chair Jerome Powell, there is a lot of uncertainty about where the Federal Reserve will move under the current administration. There is also a lot of…
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