Bock Mortgage Group - Michael Bock and Theresa NeSmith

Team Mortgage Mikes August 9, 2023

Why Is My Mortgage Escrow Account Sending Me a Check?

Various factors can lead to fluctuations in these estimated expenses. If the actual costs turn out to be lower than anticipated, your escrow account may end up with an excess balance, resulting in a refund check being sent to you.

Team Mortgage Mikes August 8, 2023

Understanding the Distinction Between Mortgage Interest Rates and APR

This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently.

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.