MoneyWisdom Blog

Are You Ready to Refinance?

Posted by Moneywise Newsletter on Apr 21, 2016 1:38:11 PM

For most homeowners, now is a good time to refinance a mortgage. If you're considering this move, take these steps to help ensure your paperwork is handled smoothly:

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Topics: Mortgages and Refinance

What does Fed interest rate hike mean for you?

Posted by MaryJo Kurtz on Dec 18, 2015 9:55:10 AM

The Federal Reserve made headlines this week when it announced an increase in its key interest rate by a quarter percent after seven years of near 0% rates. What does this mean for you? We put the question to Hanscom Federal Credit Union’s Senior Vice President of Lending, Tom Becker.

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Topics: Mortgages and Refinance, Money Management, Debt, Lending

Pre-Qualified or Pre-Approved. What’s the Difference?

Posted by Joshua Rakiey on Aug 24, 2015 3:08:36 PM

In the past, realtors and people selling homes were looking out for buyers who were pre-approved. Pre-approved was a broad term that could mean anything from a potential buyer who applied for a loan to a buyer whose underwriting was done and they had been approved for a specific amount of money. Pre-Qualified and Pre-Approved were essentially interchangeable.

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Topics: Mortgages and Refinance

Can I Use a Cash Gift for My Mortgage Down Payment?

Posted by Hanscom Federal Credit Union on Aug 14, 2015 7:56:18 AM

If you’re looking to purchase a home, you probably already know that there is generally a down payment required before you can move forward with the buying process. You probably also know that there is a specific percentage of the overall amount of the loan the lender needs to receive for the down payment. What you may not know, though, is that there can be rules about where that money comes from. Different lenders and guarantors have their own criteria, but there are a few restrictions you should be on the lookout for.

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Topics: Mortgages and Refinance

The Final Step of Your Home-Buying Journey: Closing Day

Posted by Hanscom Federal Credit Union on Apr 24, 2015 9:00:00 AM

Whew. You made it. You chose a wonderful home, worked out a fair deal with the seller and now it’s time for your closing.

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Topics: Mortgages and Refinance

Home Sweet Home? 3 Tools Disclose Issues for Home Buyers

Posted by Patti Conty on Apr 22, 2015 8:00:00 AM

You know the basics when viewing properties. Flick the light switches, inspect the closets, take a deep sniff in the basement. But do you know the tools that can help you uncover a problem, and how to use them? If not, you could be vulnerable when purchasing a new home.

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Topics: Mortgages and Refinance

Stage Your House to Sell!

Posted by Hanscom Federal Credit Union on Apr 15, 2015 9:30:00 AM

Do you watch HGTV? Ever heard of The Property Brothers? They have a show called Buying and Selling where they make a house look gorgeous so that it sells in a matter of days.

Wish I’d had them around when I tried to sell my old house!

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Topics: Mortgages and Refinance

The HomeAdvantage Program Helps You Save Money on Your New Home

Posted by Patti Conty on Apr 8, 2015 9:00:00 AM

It’s the home buying season. Everywhere I look, people are sprucing up their homes and yards, and I’ve lost count of the open house signs I’ve passed this week.

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Topics: Mortgages and Refinance

Whoops! Common Home Buying Mistakes

Posted by Hanscom Federal Credit Union on Apr 6, 2015 8:18:00 AM

When it comes to buying a home, there are all sorts of things that can trip you up, whether it’s paying too much, getting the wrong type of mortgage or neglecting to budget properly for unexpected home repairs. Whether you’re a first-time home buyer or you’re looking for your empty-nester home, most buyers will make some kind of mistake.

(I bought a home next to a very active train track. I knew it was there but thought, “It can’t be that bad!” It was.)

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Topics: Mortgages and Refinance

Before Applying for a Mortgage: 5 Steps to Organize Your Finances

Posted by Hanscom Federal Credit Union on Apr 3, 2015 10:58:00 AM

You really want to buy a home — after all, it is still a part of the American Dream — but the finances of it can seem overwhelming. That’s why it’s so important to do some thorough prep work before you start looking for a mortgage.

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Topics: Mortgages and Refinance

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