The new school year has snuck up on us again! As much as we prepare, we can probably agree that we’re never fully ready. As summer begins to wind down, it may be helpful to ready your home for the upcoming school year.
Student loans are vital for some to achieve educational goals but could have adverse effects after graduation. There are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt, according to personal finance site Make Lemonade. The idea of buying a home in the future seems impossible for these graduates, but it doesn’t have to be this way. You can buy a home with this debt, you just have to make wise choices during the process.
You heard correct. You now have more options for rehabilitation financing. Freddie Mac just launched the CHOICERenovation loan. You can now combine your home and renovation loan together when you choose Freddie Mac during your home purchase. This loan is the perfect loan to purchase that less than perfect home.
Have you considered how a lower interest rate may impact your mortgage payment? Maybe you’ve given thought to shortening your term to pay your home off sooner? It may be time to look into refinancing. Whether you’re drawn to cost savings or need to tap into your existing equity, refinancing your mortgage may be more cost efficient and streamlined than you think. There are several benefits of refinancing.