Home & Commercial Mortgage Services - Northwood Mortgage
Call & Save

How to Avoid and Not Accumulate Debt

Posted onApril 28/2020By

If you are thinking of buying a home, you may be interested in a mortgage qualifier in order to determine if you have a good chance of qualifying for a mortgage. In addition, a mortgage qualifier may help you learn about your current financial standing, as having large amounts of debts may poorly affect your credit score, which will also reduce your chances of qualifying for a mortgage. In truth, the best way to reduce your debts is to be proactive about how you manage your money. In other words, you should create a sound and realistic financial strategy, which includes avoiding impulse purchases that you will later regret. Here, we will delve into some easy steps that will help you avoid the accumulation of insurmountable debts. Steer Clear of Impulse Buying Many people look for immediate gratification, and will often buy things that they don’t need or even want.…

Read More
0 Comment

Are You Planning for a Divorce? Here’s How It Will Affect Your Mortgage

Posted onApril 14/2020By

If you are planning a divorce, then you will likely be dealing with many emotions. However, one thing that often falls by the wayside during a divorce is mortgage payments. Couples need to try and find an amicable solution that will help reduce their financial burdens so that both parties can enjoy a clean slate when all the papers have been signed and the dust has settled. Here, we will discuss some of the mortgage payment options and solutions at your disposal in the event of a divorce. Sell the Home Most experts agree that the best option is for the home to be sold. Moreover, the easiest way to accomplish this is if you have equity in the property. Then, the home can be sold, and the profits can, ideally, be split evenly between both parties. Still, this option may be difficult for some couples, especially if they have…

Read More
0 Comment

What the Future of Real Estate Mortgage Looks Like

Posted onApril 07/2020By

The housing market in 2019 was dominated by limited supply, high demand, and low rates, primarily in the lower-priced end of the industry. As for 2020 and beyond, some experts predict more of the same, while others have predicted some marked changes that will take the real estate market by storm. Here, we will discuss some of the trends to look for in 2020 regarding the real estate mortgage industry and the real estate market at large. Mortgage Rates Will Either Remain the Same or Go Down Slightly While mortgage rates will fluctuate depending on where you live, Freddie Mac’s most recent numbers had real estate mortgage rates sitting at roughly 3.75%, which is nearly a 1% difference from what the monthly average was a year ago. As such, the drop in rates caused an upswing in refinancing over the last three months, as purchasing activity also enjoyed a surge…

Read More
0 Comment

Subscribe to RSS Feeds