Team Mortgage Mikes, Author at Bock Mortgage Group

Team Mortgage Mikes August 7, 2023

What’s Ahead For Mortgage Rates This Week – August 7, 2023

Last week’s scheduled economic reporting included readings on construction spending, public and private sector payroll growth, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released.

Team Mortgage Mikes August 4, 2023

Will Buying A New Car Impact The Ability To Buy A New Home?

Making major life decisions often involves a delicate balancing act. Among the most significant choices, individuals face are buying a new car and purchasing a new home. Both ventures represent milestones in one’s life, bringing excitement and anticipation. However, there is a complex interplay between these two financial endeavors that can significantly impact a person’s ability to achieve their dream of owning a new home. Here are some factors to consider:

Team Mortgage Mikes August 2, 2023

How Much Equity Can I Borrow from My House

In general, lenders typically allow you to borrow up to 80% of your home’s equity. For example, if your home is currently valued at $400,000 and you owe $200,000 on your mortgage, you may be able to borrow up to $160,000 (80% of the $200,000 in equity you have in your home).

Team Mortgage Mikes August 1, 2023

The Difference Between A Home Equity Loan Versus A HELOC

When homeowners need to tap into the equity they’ve built in their homes, two popular options are Home Equity Loans (HEL) and Home Equity Lines of Credit (HELOC). Both types of loans allow homeowners to access funds for various purposes, such as home improvements, debt consolidation, or unexpected expenses. However, it’s essential to understand the differences between these two mortgage products to make an informed decision that aligns with your specific needs and financial goals. Here are some important differences between the two.

Team Mortgage Mikes July 31, 2023

What’s Ahead For Mortgage Rates This Week – July 31, 2023

The Federal Reserve raised its target interest rate range to 5.25 to 5.50 percent; this announcement signaled that rates for home loans and unsecured credit would also rise.

Team Mortgage Mikes July 26, 2023

Selling a House “As-Is”: Pros, Cons, and Considerations

Selling a house as-is can be a viable option for homeowners looking for convenience and cost savings. However, it’s crucial to carefully consider the potential drawbacks, such as a lower sale price and limited buyer pool. Assessing the property’s condition, seeking professional advice, and evaluating the financial implications are essential steps in deciding whether selling a house as-is is the right choice for you.