Wednesday, October 28, 2015

Can Refinancing Save You Money?



   Current mortgages are being offered at great low rates, but what if you already have one?  You want to save money by refinancing, but now sure if it's the right move.  While you might be getting a lower interest rate, extending your mortgage could end up actually costing you more!  If refinancing is something you are considering, it's a great idea to talk to a mortgage professional to make sure you are actually saving yourself money in the long run and helping your finances and not hurting them with the fine print.

This article on Investopedia outlines some of the circumstances of refinancing.

When Does it Pay to Refinance Your Mortgage?

Mortgage interest is among a homeowner’s biggest expenses, so refinancing is a popular way to lower costs, but it doesn’t always make sense. Keep these considerations in mind if you’re exploring a new mortgage.

How much have rates dropped, and how much do you owe? A 1% fall means much more with a $500,000 mortgage than a $100,000 mortgage. The savings have to justify the effort and expenses of refinancing.

How long do you plan to keep the mortgage? If the plan is to sell soon, refinancing may end up costing money.

Can you refinance into a shorter term? If your mortgage has 20 years left, and you refinance into a 30-year deal, it can cost you in the long run, even with a lower rate. But if you refinance from a 30-year to a 15-year mortgage, the long-term savings could be large, especially if the new rate is lower.

Refinancing offers the opportunity to correct mistakes made on first mortgages. It can increase long-term worth, and it frees money for other investments and expenses.

But there are risks. Closing costs add up, especially when an unscrupulous lender charges unnecessary fees. Sometimes lenders charge higher interest rates on a refinanced mortgage because the deal contains no closing costs. And sometimes refinancing depletes a home’s equity.

Special refinancing programs include home affordable refinance, which helps homeowners whose houses have dropped in value. FHA streamline refinancing provides homeowners with lower monthly payments. And VA streamline refinancing helps veterans obtain lower interest rates.

To read the full article on Investopedia.com, click here.


Monday, October 26, 2015

The Benefits of Working with a Creative and Experienced Professional



     Creativity, believe it or not, is a major asset to a mortgage loan agent.  There are so many options to homebuyers these days— renovation loans, FHA, grants for first time home buyers, HUD, the list goes on.  It’s my job to find a creative solution to financial goals when it comes to buying a house!  You don’t necessarily need a big downpayment or a perfect credit score to get into a great home.  If you are dealing with challenges like not-so-perfect credit, or being self-employed and proving your income, talking to a mortgage professional, like myself, can really help expand your options.  Here are 3 reasons why.

1.  DIY Mortgage research sometimes doesn’t paint a full picture.  There are tons of rate comparison sites, but that’s only one aspect of a mortgage loan and doesn’t really tell you what’s in the fine print.  New mortgage products are available every day and not everything is online.  A mortgage professional has dealt with many banks and many loans and knows what’s available.  In some cases calling up people they’ve worked with before to see what they can do for a particular situation.  Again, creativity comes from a personal touch that you can’t get online.

2.  Experience is on the mortgage professional’s side.  We understand the market, and we know the lingo.  It can be difficult to make an informed decision when you aren’t familiar with some of the terms of the contract.  Having a professional on your side puts you in a better position for tough decision-making.

3.  All of the Above.  Mortgage professionals know the market, we know people in the lending business, we are experienced in product comparisons.  The bottom line is that we have ways of getting better deals from lenders than the average consumer.  That’s why we’re professionals.



     If you walk into a bank with any challenges to lending, they are going to try to protect themselves against risk by charging you higher interest on the loan as well as higher mortgage insurance premiums at the very least.  When you talk to me about your mortgage options, finding the best product with the best rates and ultimately saving you money is one of the challenges I really love about my work. 

Thursday, October 15, 2015

Light the Night Walk—  THIS SATURDAY!



     Finally, after a year of fundraising and goal reaching, it’s time to celebrate and raise awareness with others who have beaten, are fighting or have loved ones affected by Leukemia or Lymphoma.  This Saturday, October 17, at the Virginia Historical Society, join The Leukemia and Lymphoma Society’s Light the Night Walk.   All donations and contributions go to research to find cures and ensure access to treatment for blood cancer patients.
     This is a cause very close and personal to my heart.  Please come out and show your support this weekend!

"Light The Night Walk is a community celebration of music, entertainment, and camaraderie among friends, family, and co-workers gathering to celebrate their fundraising success and demonstrate their support in the fight against blood cancers."

For more information on how to participate, register to walk and show your support, click here.   


For my personal story, read more here.

Tuesday, October 13, 2015

Here's Looking at Me, Forbes!

I'm in Forbes, y'all!  I was so happy to have surpassed my fundraising goal this year for the Leukemia and Lymphoma Society's Light the Night Walk.  It's happening on Saturday October 17th at the Virginia Historical Society!


Thursday, October 8, 2015

Folk Festival This Weekend!


     The Folk Festival is Here!  As anyone who reads my blog knows, I like being out and about in Richmond. There’s so much to do and you’re bound to meet new people as well as run into a few familiar faces! It’s a great town.  This weekend, the much anticipated Folk Festival is happening this weekend starting Friday from 6 pm— 10 pm, Saturday from Noon— 9:30 pm, and Sunday from Noon—6:30 pm.  The best part about this event?  It’s FREE!  Come down to Brown’s Island this weekend and travel the world through food and music.  You never know who you might run into!

Tuesday, October 6, 2015

Thank You for Helping Me Reach My Fundraising Goals!



Great news everybody!  I’ve reached and exceeded my fundraising goal for the 2015 Leukemia and Lymphoma Society’s Light the Night Walk!  I’ve raised a whopping $10,360 thanks to all my friends, family, coworkers and corporate sponsors.  I couldn’t have reached my goal without you guys caring and supporting this great cause.  So thank YOU for helping me reach my goal and I hope to see you there, October 17, at the Virginia Historical Society for the annual Light the Night Walk.

To read more about me, my fight with cancer, and my dedication to these fundraising efforts visit my fundraising page.

To learn more about this year's walk visit the Virginia Chapter of Light the Night.