What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage with a cash-out refinance means you might get to check off all the boxes on your to-do list or give yourself an infusion of cash for upcoming … [Read more...] about What is Cash-Out Refinancing and When is it a Good Option?
When you want to buy a home, you may not know all the details involved, including how much of a down payment you need. When it comes to mastering a task, such as learning to ride a bike or learning about investments, someone may have taught you. It's the same with buying a house, so let Morty guide you. So, how much down payment for a house? We'll … [Read more...] about How Much Down Payment to Buy a House?
You may have noticed that mortgage rates have gone down compared to when you bought your home years ago. Or maybe you'd like to change your loan term. Maybe you'd like to switch to a 15-year mortgage from a 30-year mortgage. On the other hand, you may have a 15-year mortgage as your existing mortgage but need to reduce the amount you pay per month (some people choose … [Read more...] about How to Refinance a Mortgage Step by Step
What percentage of income should go to mortgage payments? It's a good question, particularly when you're ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle. Morty can help you determine what you can comfortably afford to spend on your mortgage … [Read more...] about How Much of Your Income Should You Spend on Your Mortgage?
When you're getting ready to buy a house, your lender will want to see your credit score, a three-digit number that represents how well you pay back debt. Before you apply for a mortgage, keep in mind that your credit score represents one of the most important aspects of qualifying for a mortgage, but it's not the only qualification. So, what credit score is needed … [Read more...] about What Credit Score is Required to Buy a House?