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Understanding Refinancing with a 15-Year Loan
Refinancing your mortgage can be smart, especially when considering a 15-year loan. Whether you're looking to lower your interest rate, reduce your loan term, or save on long-term interest costs, refinancing into a 15-year mortgage can offer several benefits. However, it's essential to understand how the process works and whether it's the right choice for your financial situation. What is Refinancing? Refinancing involves replacing your existing mortgage with a new loan, typically with better terms....
Understanding Bridge Loans: Bridging the Gap to Your New Home
Buying a new home is exciting, but sometimes the timing of selling your current home and purchasing a new one doesn’t align. That’s where a bridge loan comes into play—providing short-term financing to help you secure your next home or pay off debt while you wait for your current home to sell. What is a Bridge Loan? A bridge loan is a short-term financing option that provides funding until you secure permanent financing; the loan...
Don’t Wait for Low Rates
In the ever-evolving landscape of mortgage rates, it's essential to consider whether waiting for rates to drop is a prudent strategy. While the allure of lower rates may seem enticing, experts caution against delaying your home purchase. Inventory First, let’s talk about inventory. Since the onset of the COVID-19 pandemic and the subsequent historic lows in mortgage rates in 2021 (according to U.S News & World Report), available housing stock has dwindled across many communities...
Are You Mentally and Emotionally Ready to Buy Your Dream Home?
Buying a home is more than just a financial transaction; it’s a significant milestone that often marks a new chapter in life. At Amerant Mortgage, we understand the importance of being prepared not only financially but also mentally and emotionally. Let’s walk through a checklist to ensure you’re ready to take this exciting step towards homeownership. 1. Define Your Why What’s motivating your decision to buy a home? Are you tired of rising rents? Are...