Unlocking the Benefits and Understanding the Risks of Home Refinancing

Unlocking the Benefits and Understanding the Risks of Home Refinancing

Unlocking the Benefits and Understanding the Risks of Home RefinancingMelissa Kerick
Published on: 01/07/2024

Owning a home can be a powerful tool for building long-term wealth and securing your family's financial future. When done correctly, refinancing your mortgage can enhance these benefits and provide even greater value from homeownership.

home refinancingmortgage refinancerefinancing benefitsrefinancing risksnet tangible benefitmortgage advisorlower interest ratehome equitydebt consolidationmortgage insuranceloan termadjustable-rate-mortgagerefinance qualificationcredit checkloan-to-value ratioLTVclosing costsfinancial planningwealth buildingrefinance process
Interest Rate, APR, and TIP: What’s the difference?

Interest Rate, APR, and TIP: What’s the difference?

Interest Rate, APR, and TIP: What’s the difference?Melissa Kerick
Published on: 28/06/2024

After completing the mortgage application, getting pre-approved for a home loan, and finding a property you’d like to purchase, your mortgage advisor will be able to write up a Loan Estimate.

Loan estimateinterest rateannual percentage rateAPRtotal interest percentageTIPmortgage applicationpre-approvedhome loanclosing costsmonthly paymentsprincipal amountmonthly interest paymentmarket ratescredit scoreloan amountdown paymentloan termtype of mortgagerefinancefinance costslending feespointsmortgage broker feesprepaid finance chargesadmin feeslender fees