Blog

Level-up your financial literacy by taking advantage of our free blog! Enjoy topics ranging from money lifestyle tips to fun local activities for the whole family. 
Click here to join the email list.

CLEAR FILTER

Posts about Home & Mortgage (2)

How Much Should You Spend on Rent?

By: American Heritage 09.14.23 3 minute read Home & Mortgage

If you’ve checked out rental listings lately, you know that rents are going up, up, up. Demand for apartments has surged, making many markets super competitive. Finding a place to call home at a reasonable price can be challenging. The burning question is: how much of your income should go toward a rent budget? In this article, we'll explore some practical guidelines and steps to help you figure out how much rent you can afford without busting your budget.

READ THE ARTICLE
pen sitting on a passed due bill

What Happens If I Miss a Loan Payment?

By: Holly Love 07.20.23 3 minute read Home & Mortgage Credit

Life is unpredictable. An emergency, unexpected illness, or a bout of forgetfulness can all end in a missed loan payment. While missing a single payment may come with unwanted consequences like fees or penalties, it will not result in financial ruin. Stay calm and keep reading to learn what happens if you miss a loan payment.

READ THE ARTICLE
Smiling couple discussing home loan options with a financial advisor in a bright, comfortable office setting.

What Happens When You Refinance Your Home Loan?

By: American Heritage 05.25.23 3 minute read Home & Mortgage

This could be the right time for you to refinance your home loan. You’ve had the same mortgage for several years now, and you’ve built up home equity. What will happen when you refinance? How do you get this process started, and what does it include? Here’s what you need to know about the process of refinancing your home loan.

READ THE ARTICLE
A key sits on top of a mortgage application.

What Do the New Loan-Level Pricing Adjustments (LLPAs) Mean for Mortgage Rates?

By: Holly Love 05.04.23 3 minute read Home & Mortgage Policy & Economy

You may have seen in the news that there is a “new” tax for mortgage borrowers with higher credit scores. Bold headlines are claiming that those with a higher credit score will be paying more to subsidize those with lower credit scores, sometimes going as far as to wrongly suggest that you should deliberately lower your credit score to pay less. This has been misconstrued.

READ THE ARTICLE
Man measuring and installing cabinetry during a kitchen renovation, surrounded by tools and unfinished surfaces.

Things to Consider Before Accessing Your Home Equity

By: American Heritage 03.30.23 3 minute read Home & Mortgage

Home is where the heart is… and it can also be a valuable source of low-cost funds you can use for just about anything. If you’re a homeowner who’s built up equity in your home, you may have the opportunity to access affordable financing through a Home Equity Loan or Home Equity Line of Credit (HELOC). Here are some things to consider before tapping into your equity.

READ THE ARTICLE
Man reviewing financial documents at home with a tablet in hand, surrounded by paperwork and a coffee mug on the table.

What is PMI?

By: American Heritage 03.25.23 3 minute read Home & Mortgage

Private mortgage insurance (PMI) is an often-overlooked cost that homeowners may need to pay when buying a home with a conventional mortgage or refinancing that loan. Understanding PMI can help you to avoid paying it or saving money in the long term. Here’s what you need to know:

READ THE ARTICLE
Man tiling a kitchen backsplash during a home renovation project.

Use Your Home Equity for Home Projects and Debt Consolidation

By: Holly Love 01.26.23 3 minute read Home & Mortgage

Soaring home prices over the past few years have caused an interesting side effect – homeowners are finding themselves with a lot more home equity. Home equity is the difference between your home’s value and how much you still owe on your mortgage. For example, if your home is worth $300,000, and you owe $50,000 on your mortgage, you have $250,000 in equity.

READ THE ARTICLE
couple-sitting-on-couch-with-laptop

Want to Use Your Home Equity? You’ve Got Options.

By: American Heritage 09.15.22 3 minute read Home & Mortgage

You already have lots of reasons to love your home. Here’s one more: Your home is also one of your most powerful financial tools — because of your home equity. Your equity is the portion of your home that you own (as opposed to your mortgage lender). If you’ve been making mortgage payments for some time, you’ve probably built significant equity. And thanks to home equity financing options, you can take advantage of your investment without selling your place.

READ THE ARTICLE
1 2 3 4 5

Want to stay up-to-date with more financial articles? Join our email list and receive the latest blog articles in your inbox.

SIGN UP FOR YOUR FAVORITE TOPICS