Many homeowners consider paying extra on their mortgage as a way to get ahead financially. While this strategy can be smart for some, it’s important to weigh both the advantages and the potential drawbacks before committing.
The Pros: Making additional payments can dramatically reduce the total interest you’ll pay over the life of your loan. It also helps you build equity faster, which could give you more flexibility for refinancing or borrowing against your home in the future. Beyond the financial side, paying down your mortgage early can provide peace of mind and a sense of financial freedom.
The Cons: On the flip side, tying extra money into your mortgage can limit liquidity. Those funds may be harder to access if you need them for emergencies, investments, or higher-yield opportunities. Depending on your situation, putting money into savings, retirement accounts, or other investments may give you a better return than paying off your mortgage faster.
The decision ultimately comes down to your goals and financial priorities. Some homeowners value being debt-free as soon as possible, while others prefer to keep funds flexible for other opportunities. If you’d like guidance on which path fits your goals best, please visit our website to schedule a consultation.

Today’s buyers aren’t just looking for location and square footage—they’re also looking for convenience, efficiency, and technology. Smart home upgrades like video doorbells, smart thermostats, and app-controlled lighting are becoming increasingly popular, and they can even add value to your home when it’s time to sell.
The appeal of these features is simple: they make daily life easier. Imagine being able to adjust the temperature before you get home, or checking security cameras while on vacation. For many homeowners, these upgrades provide both peace of mind and energy savings, making them a win-win investment.
From a mortgage perspective, improving your home’s value through smart upgrades can pay off down the road. Higher value means more equity, and more equity can open up opportunities for refinancing, future upgrades, or even funding a new property. It’s a small step today that can have big financial benefits tomorrow.
Smart homes aren’t just for tech enthusiasts—they’re becoming the new standard. If you’re curious about how investing in upgrades today can strengthen your financial future, visit our website to schedule a consultation today.

If you’ve been thinking about buying a home but feel unsure whether now is the right time, you’re not alone. With mortgage rates fluctuating, headlines predicting everything from market crashes to bidding wars, and rising rent costs, it’s easy to feel overwhelmed. But here’s the truth: the “perfect time” is different for everyone—and it depends more on your personal readiness than market timing.

One major factor to weigh is the cost of waiting. While you may hope for lower rates in the future, home prices in many areas continue to rise. If rates drop, demand will likely spike—bringing more competition and potentially higher prices. On the flip side, buying now might give you more negotiating power, especially in markets where sellers are motivated.

Another key consideration is your financial foundation. Are you pre-approved? Do you have a stable income, manageable debt, and a down payment saved? These factors are far more within your control than the economy, and they’ll determine the types of mortgage products you qualify for. Programs like FHA, VA, and down payment assistance can also help you move forward even if you aren’t putting 20% down.

Ultimately, the best time to buy is when it makes sense for your goals and budget. If you’re ready to explore your options, we’re here to help you understand your numbers, compare loan programs, and make a confident decision. Schedule a quick consultation today—your future home might be closer than you think.

Before you can shop for a home with confidence, it’s smart to get preapproved for a mortgage. Preapproval gives you a clear idea of how much a lender is likely to offer based on your financial profile. To make that determination, lenders will need to verify several aspects of your financial situation—including your income, assets, debts, and credit history. Having all your documents ready can make the process faster and smoother.

One of the first things your lender will look at is your employment and income. Expect to provide pay stubs from the past 30 days, W-2s and tax returns from the last two years, and recent bank statements. If you’re self-employed, you’ll need to provide additional documentation, such as business tax returns or profit and loss statements. Other sources of income like child support, Social Security, or pension payments should also be documented.

Lenders will also evaluate your assets and debts to get a complete picture of your financial health. You’ll need to submit account statements for retirement savings, investments, and any additional real estate you own. At the same time, you’ll provide recent statements for your outstanding debts—auto loans, credit cards, student loans, and more. This information helps calculate your debt-to-income ratio, a key factor in determining how much house you can afford.

Don’t forget identification and any situation-specific paperwork. You’ll need to provide a government-issued ID and Social Security card, and if someone is gifting you part of your down payment, you’ll need a gift letter as well. Buyers using VA loan benefits will need to include a Certificate of Eligibility. With all your documents in hand, you’ll be better positioned to secure preapproval and confidently move forward in your homebuying journey. Of course if you are thinking about getting preapproved fill out our 90 second prequalifier on our website and we will get the ball rolling!

If you’re planning a home upgrade—whether it’s a kitchen remodel, basement conversion, or a complete overhaul—a renovation loan could help you get the job done without draining your savings. These loans come in many forms, including home equity loans, personal loans, cash-out refinancing, and government-backed renovation mortgages. The right choice depends on your current equity, credit score, and the scope of your project.

Home renovation loans work by providing funds specifically for improving or repairing your home. Some allow you to roll renovation costs into your mortgage when purchasing a fixer-upper, while others give you access to equity you’ve already built in your current home. Popular options include the FHA 203(k), Fannie Mae HomeStyle, and Freddie Mac CHOICERenovation loans. For smaller or unsecured projects, personal loans may be the fastest and easiest solution.

Not every loan fits every project, so it’s important to understand when borrowing makes the most sense. If your renovation is urgent—like fixing structural damage—or if it significantly boosts your home’s market value, taking out a loan could be a wise investment. However, always be realistic about your budget, timeline, and how much value the improvements will truly add to your home.

If you’re considering a renovation mortgage – schedule a consultation with us on our website and we can crunch the numbers with you to see whether it makes sense and what fits your needs

Closing on a home is an exciting milestone, but it’s also a process that involves a lot of moving parts. From the time your offer is accepted to the moment you get your keys, there are several steps that must be completed by both you and your lender. While the process can take several weeks, proper preparation can help things go more smoothly and reduce the chances of delays along the way.

Once you reach closing day, you’ll finalize the purchase by signing a series of documents, paying any remaining closing costs, and receiving the keys to your new home. You may be joined by your real estate agent, the seller, a closing agent, and potentially an attorney. The documents you’ll review include your closing disclosure, loan agreement, mortgage note, and more. It’s important to review everything carefully, and don’t hesitate to ask for clarification if something doesn’t make sense.

Leading up to closing, you’ll need to complete several important tasks. These include getting a home inspection, securing homeowners insurance, submitting required paperwork to your lender, and confirming your closing date. You should also do a final walk-through of the property to ensure everything is in the agreed-upon condition. Additionally, you’ll need to prepare your funds—usually via wire transfer or cashier’s check—to cover your down payment and closing costs.

While the average time to close on a home is just over 40 days, things like title issues, low appraisals, or financing delays can push that timeline. The best way to avoid surprises is to stay organized and responsive throughout the process. With the right support and preparation, you’ll soon be celebrating in your new home, ready to start the next chapter.

When it comes to first-time homebuying, understanding what constitutes a “typical” down payment can make the process feel a lot more attainable. In 2024, the median down payment among first-time buyers was 9 percent of the purchase price—meaning on a $400,000 home, most newcomers put down about $36,000. However, loan programs tailored for first-timers often let you start with as little as 3 percent down, and government-backed options like VA or USDA loans may even require zero down.

Deciding on your down payment is all about weighing the trade-offs. A 20 percent down payment is considered ideal: it typically secures the lowest interest rates and lets you bypass private mortgage insurance (PMI) altogether. But given the median amortization patterns, very few first-timers reach that benchmark right out of the gate—only about one-third manage to save it, while the majority settle somewhere between 3 percent and 10 percent.

Putting down less than 20 percent has its own advantages. By starting with just 3 percent or 5 percent down, you’re able to enter the market sooner—locking in today’s prices before they climb further—while preserving cash for closing costs, moving expenses, and the small repairs that inevitably arise. Just keep in mind that any down payment under 20 percent brings PMI, which can add roughly $30–$70 per month for every $100,000 you borrow, and means higher monthly payments until you accrue enough equity.

The right “typical” down payment for you will hinge on your personal comfort level and long-term goals. If you can pull together 10 percent, you’ll strike a solid balance between a lower interest rate and retained reserves. If your priority is getting into a home quickly, a 3 percent or even zero-down option can make sense—knowing you can eliminate PMI once you hit 20 percent equity. Ready to crunch the numbers for your specific situation? Schedule a free consultation on our website, and we’ll help you determine the down payment strategy that fits your budget and goals.

A 3/1 adjustable-rate mortgage (ARM) offers homebuyers a fixed interest rate for the first three years of their loan, followed by annual rate adjustments for the remaining term. During the initial three-year period, your monthly payments remain consistent, giving you the predictability of a traditional fixed-rate mortgage. After those introductory years, however, the interest rate can adjust once per year based on market indexes—such as Treasury yields or the Secured Overnight Financing Rate—plus a set margin determined by the lender.

Once the three-year fixed period ends, the annual rate adjustments are governed by caps that limit how much your interest rate can increase at each adjustment and over the life of the loan. For example, an initial adjustment cap might restrict your rate from rising more than 2 percentage points at the first change, while a periodic cap might cap future annual adjustments at 1 percentage point. A lifetime cap establishes the maximum interest rate you could ever be charged under this ARM, ensuring that, even if market rates spike dramatically, you’ll never pay beyond a specified ceiling.

There are several scenarios in which a 3/1 ARM may make sense. If you plan to sell or refinance within three to five years, you can take advantage of the lower introductory rate without worrying about long-term volatility. Similarly, if you anticipate a career change or relocation in the near future, the short fixed period allows you to maximize savings in the early years. On the flip side, borrowers should be comfortable with the possibility of higher payments after year three—if market rates rise, so will your monthly mortgage payment. It’s crucial to have a financial cushion or a plan in place to absorb potential increases.

Compared to a 30-year fixed-rate mortgage, a 3/1 ARM typically starts with a lower rate, which can translate to significant upfront savings. However, it carries more uncertainty than a fixed-rate loan, especially if you keep the mortgage beyond the fixed period. If you value long-term stability and predictability, a fixed-rate option might be preferable. But for many buyers who intend to move or refinance before the rate adjusts, a 3/1 ARM can offer an attractive balance of lower initial costs and manageable risk. If you’d like to know more, schedule a consultation with us on our website.

A piggyback loan—often called an 80/10/10 or combination mortgage—is a clever way to buy a home with less cash up front. Instead of a single mortgage plus private mortgage insurance (PMI), you take out two loans at closing: one for 80 percent of the home’s value and a second for 10 percent. You then cover the remaining 10 percent with your own down payment. This structure lets you sidestep PMI, which can add hundreds to your monthly payment, and keeps your main mortgage under the conforming loan limit so you avoid the stricter requirements of a jumbo loan.

Beyond skipping PMI and jumbo-loan hurdles, piggyback loans let you stretch your cash reserves. In a standard 80/10/10 setup, you’re only putting 10 percent down instead of 20. Some lenders even offer an 80/15/5 arrangement, where you contribute just 5 percent and borrow 15 percent as your second mortgage. You can use either a fixed‐rate home equity loan or a home equity line of credit (HELOC) for that second piece, giving you flexibility in how you tap into additional funds without dipping into savings for closing costs or renovation projects.

Of course, there are trade-offs. Your second mortgage usually comes with a higher, sometimes variable interest rate, so your payment could rise if rates climb. You’ll also pay closing costs on both loans, which can eat into the savings you’d hoped to gain from avoiding PMI. And if you need to refinance down the road, juggling two separate lenders and loan products can complicate the process. It’s important to run the numbers carefully—compare combined payments and fees side by side with a single conventional or jumbo loan scenario.

If you’re intrigued by the piggyback strategy, start by shopping around for both primary and second-mortgage lenders. Look at interest rates, loan terms, and qualification standards, and be prepared to supply documentation for both applications at once. As you gather quotes, don’t forget to weigh low-down-payment alternatives, too: FHA programs require as little as 3.5 percent down, Fannie Mae and Freddie Mac’s Conventional 97 loan needs only 3 percent, and VA loans offer zero-down financing for qualifying veterans. With a clear understanding of your options, you’ll be ready to choose the path that lets you move in sooner—without overextending your budget. And of course schedule a consultation with us on our website and we can review your specific situation.

familiar with private mortgage insurance (PMI). This insurance is typically required by lenders to protect themselves in case a borrower defaults. For a few recent tax years, homeowners had the opportunity to deduct PMI premiums on their federal returns, offering some relief on their overall tax burden. However, that deduction expired after the 2021 tax year, and currently, PMI is no longer tax-deductible.

Between 2018 and 2021, eligible homeowners who itemized their deductions could write off PMI premiums. This was a welcome break for many, especially those paying hundreds annually in PMI costs. If you didn’t take advantage of the deduction during those years, there’s still a chance: you may be able to file an amended return and claim those missed deductions. Just keep in mind that your mortgage must have originated (or been refinanced) on or after January 1, 2007, to qualify.

So, where does that leave us now? As of the 2022 tax year and beyond, the PMI deduction is no longer available. A new bill has been introduced in Congress to potentially reinstate it, but until it’s passed and signed into law, homeowners should plan their taxes accordingly. This change highlights the importance of staying up to date with tax law changes, especially if you’re navigating homeownership with a tight budget.

While the expired deduction may not have been a game-changer for everyone, it could have still saved you a few hundred dollars a year—money that adds up over time. If you’re unsure whether you missed out on this deduction in previous years or want to know if an amended return makes sense, it’s worth speaking with a tax professional or schedule a review with us on our website and we can help you decide.