10
Aug
By Jim Hasek
Mortgage, ,

Disputing Your Property Tax Assessment Can Save You Money

Property taxes can be a substantial financial burden for homeowners and property owners. Each year, local governments assess the value of properties to determine the amount of property tax owed. However, these assessments are not always accurate and can result in higher tax bills than necessary. Disputing your property tax assessment is a proactive way to potentially save money and ensure you're paying a fair and equitable amount. Reasons for Flawed Assessments: Property tax assessments are not immune to errors and discrepancies. Several reasons can lead to an inaccurate evaluation of your property: Market Value Misjudgment: Assessors may rely on…
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04
Aug
By Jim Hasek
Mortgage, ,

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: Debt-to-income ratio: When you apply for a home loan, your lender will consider your debt-to-income ratio (DTI) to determine whether you qualify for a mortgage. Your DTI is the…
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02
Aug
By Jim Hasek
Mortgage,

How Much Equity Can I Borrow from My House

The amount of equity you can borrow from your house depends on several factors, including the current market value of your home, the amount you owe on your mortgage, and your credit score. 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). However, it's important to note that borrowing against your home's equity comes with risks. If…
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01
Aug
By Jim Hasek
Mortgage, ,

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. Home Equity Loan A home equity loan is a one-time loan that provides you with a lump…
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25
Jul
By Jim Hasek
Mortgage, ,

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. To navigate the complexities of the home-buying process, it's essential to be well-informed about the various financial considerations involved. In this blog post, we will explore key factors to consider when buying a home to help you make informed decisions and achieve financial success. Establishing a Realistic Budget: Before diving into the home-buying process, it's crucial to establish a realistic budget based on your financial situation. Consider…
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