11 Feb 2020
By 24hr Mortgage

Considering A Reverse Mortgage? Understand These Important Points First

Mortgage, ,
There are many individuals who end up on a fixed income once they reach a certain age; however, their expenses aren’t always fixed. Sometimes, there is a large medical expense. In other cases, someone might need money for a new car or a home repair. In the event that someone needs cash quickly, one option is called a reverse mortgage. Those who have equity built up in their home can draw upon this to help with unexpected expenses. This is a quick source of cash that many people overlook. At the same time, it is important to think about the…
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06 Feb 2020
By 24hr Mortgage

Investment Property Down Payments: How Much Will You Need?

Mortgage, ,
Investing in real estate is a great way for someone to diversify his or her assets; however, there is a common hurdle that almost all real estate investors face. This comes in the form of a down payment.  It can be a challenge for someone to come up with enough cash to fund the down payment on a home or piece of land, let alone multiple properties. At the same time, how big of a down payment does someone really need? There are a few factors that someone is going to need to consider. The Conventional Mortgage There are plenty…
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05 Feb 2020
By 24hr Mortgage

Green Energy Tax Credits For Home Improvement & Energy Efficiency

Mortgage, ,
Many individuals and families are looking for ways to reduce their energy consumption. Running the heater during the winter and the air conditioner during the summer can have significant impacts on someone's energy consumption and costs. It should come as no surprise that many people are trying to reduce their HVAC usage to save money; however, there is a better way. Individuals and families can permanently reduce their fossil fuel usage and carbon footprint by investing in home improvements. Better yet, local, state, and even the federal government wants everyone's home to be more environmentally conscious, or "green." Many utility companies…
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04 Feb 2020
By 24hr Mortgage

4 Things To Do Before Co-Signing A Mortgage For Your Child

Mortgage, ,
It can be hard to convince a lender that a young person is ready to buy a house. There may not be a long credit history, a lack of assets might make it hard to fund a down payment, and the buyer's age can cause banks to hesitate. One of the ways for parents to help with this process is to co-sign on the mortgage. Before doing this, there are a few important steps to keep in mind. Look At Your Own Qualifications Remember that co-signers are going to go through the same vetting process as the primary borrower. This…
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30 Jan 2020
By 24hr Mortgage

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

Mortgage, ,
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.  This data shows that the average mortgage payment is declining, down by around three percent in the past 18 months. This trend is expected to continue. Some people might be surprised that the average mortgage rate is dropping, given that the average real estate value continues to rise across…
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16 Jan 2020
By 24hr Mortgage

How A Reverse Mortgage Can Help With Long-Term Care

Mortgage, ,
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. One of the major benefits of a reverse mortgage is that it can be used to cover the costs associated with long-term care. Over the next few decades, the number of elderly individuals in the United States is projected to double. For…
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