Bock Mortgage Group - Michael Bock and Theresa NeSmith

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.

Team Mortgage Mikes July 25, 2023

Financial Considerations When Buying a Home

Purchasing a home is one of the most significant financial decisions many individuals make in their lifetime. It involves a substantial investment of money and requires careful consideration to ensure long-term financial stability.

Team Mortgage Mikes July 21, 2023

What is a Home Warranty?

Home warranties are purchased by homeowners to protect against unexpected expenses for repairs or replacements that may occur due to normal wear and tear.