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The Average Mortgage Payment Is Declining. Here’s Why.

January 30, 2020 by Robby Oakes

According to a report that was recently published by the United States Census Bureau, the average mortgage payment has been dropping. According to the bureau, the average payment is just over $1,500 per month. This is shockingly close to the average cost of renting, which is just under $1,500 per month.

Filed Under: Mortgage Tagged With: Market Trends, Mortgage, Mortgage Rates

How A Reverse Mortgage Can Help With Long-Term Care

January 16, 2020 by Robby Oakes

Anyone who has paid attention to the TV recently has likely seen a lot of commercials for something called a reverse mortgage. For those who might not know, a reverse mortgage is exactly that. In this option, people receive monthly payments from a lender in exchange for equity in their homes. In essence, this functions as an annuity.

Filed Under: Mortgage Tagged With: Equity, Financing Options, Mortgage

Is A 15 Or 30 Year Mortgage Right For You?

January 14, 2020 by Robby Oakes

When someone is looking to purchase a house, they need to think about how long they want their mortgage to last. While a bank can structure a mortgage to last for any number of years, the most common lengths are 15 and 30 years. While a 30-year mortgage is typically more affordable, a 15-year mortgage is cheaper overall.

Filed Under: Mortgage Tagged With: Financing, Interest Rates, Mortgage

10 US Cities With Highest Mortgage Denial Rates

January 10, 2020 by Robby Oakes

For many, owning property is seen as a rite of passage. At the same time, for most people, accomplishing this dream is largely dependent on the approval of a mortgage. For this reason, it is important for people to think carefully when deciding who to ask for a mortgage. Some cities have a higher mortgage approval rate than others.

Filed Under: Mortgage Tagged With: Market Conditions, Market Trends, Mortgage

Can A Reverse Mortgage Impact Your Social Security Or Medicare Benefits?

December 10, 2019 by Robby Oakes

One of the most common worries that people have is money. When it comes to those golden retirement years, many people worry about running out of money. At the same time, most people who reach their retirement years have a lot of equity in their home.

Filed Under: Mortgage Tagged With: Financing Options, Mortgage, Reverse Mortgage

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