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Pros & Cons of Biweekly Mortgage Payments Pros and cons of biweekly mortgage payments: Prior to committing to biweekly mortgage payments, you need to weigh all the factors. Let’s examine the pros and cons of biweekly mortgages.   Pros: ●     Pay Off Your Mortgage Faster ●     Build Equity ●     It’s Easier to Budget ●     You May Save on Interest   Cons: ●     There May Be a Set-up Fee ●…

Can My Husband Refinance The House Without Me?   The mortgage loan is usually in both names when a married couple owns real estate together. However, you might be in a position where you want to refinance your mortgage independently of your spouse. Joint mortgages cannot be refinanced by one borrower without the consent of the other. This would be mortgage fraud. Furthermore, the spouse who remains on the mortgage must qualify for the loan on their own. That means…

Do I Need Mortgage Insurance For a VA Loan?   The VA verifies your eligibility for the program by filling out the necessary paperwork. A VA loan also provides you with what is known as your entitlement, which is a dollar amount guaranteed. A lender might be willing to lend you four times the amount you are entitled to. It’s possible to qualify for a VA loan without putting any money down if all of these things are in…

How do you find a lien on your property? As you know a lien is a legal right or claim against a property by a creditor, so it is important to know how to find it. Generally, liens are in the public realm. The website of the county recorder, clerk, or assessor typically allows free searches by address. Alternatively, you can appear directly at the county’s office, or you can hire a title company to conduct the search for…

How much do I need to make to afford a 450k house? To finance a 450k mortgage, you’ll need to earn roughly $135,000 – $140,000 each year. We calculated the amount of money you’ll need for a 450k mortgage based on a payment of 24% of your monthly income. Your monthly income should be around $11,500 in your instance. A 450k mortgage has a monthly payment of $2,769. 450k House Mortgage Calculator The first step in buying a house…

How soon after refinancing can I buy another home? It’s no surprise that, with mortgage interest rates reaching historic lows, homeowners throughout the country are refinancing their primary residences at breakneck speed. After all, who wouldn’t want to pay a lower monthly interest rate on a loan? But what if you’ve recently refinanced your primary residence and then come across that second home you can’t live without? Perhaps you used a cash-out refinance to access equity in your first…