High Income Households in Pennsylvania Are Increasing in Mortgages

Posted on April 22, 2018 by Scott Li

Recently revealed statistics show a trend of high income households holding a growing number of the current mortgages. What has not been revealed, however, is why the traditional middle class are owning less homes. Experts have yet to come to a solid conclusion, but an array of suggestions have been made. This impact could be a result of rising mortgage costs, the decline of our economy, a growing generation of people who wait longer to purchase homes, something else entirely, or a combination of any of the above. read more

Are Banks Being Unfair in Philadelphia?

Posted on April 19, 2018 by Scott Li

A city council meeting was held on Thursday in which banks were accused of redlining. Redlining is a practice by which loans are not given to individuals who live in areas deemed financial risks, or who pertain to a specific racial background.

The banks in attendance denied these claims, stating the recent data used to found these allegations are not fully representative of all their loan activities. Representatives stated in writing that many of the deciding factors involved in making loan decisions are not available to the public. Things like an applicant’s credit scores and history, debt, total income, and details of the loan being applied for in relation to these items. read more

Want to Buy a House in the Spring? Why you should get Preapproved for a Mortgage Now

Posted on April 1, 2018 by Scott Li

Warmer weather and longer days means there are more opportunities to view property than during the cold, dark season of winter. As such, the arrival of spring is often marked by an uptick in real estate sales. Perhaps you are one of those who are eagerly awaiting spring before becoming a homeowner. If so, you will want to obtain mortgage preapproval now-here’s why.

Reasons for Preapproval

Becoming preapproved for a mortgage may seem like an additional step, but it is actually the starting point for many real estate transactions. Mortgage preapproval has numerous advantages, including: read more

Top Reasons Why RateWinner is Your Trusted Partner for New Purchases and Refis

Posted on March 31, 2018 by Scott Li

Buying a home – or even refinancing your existing home – can be a complicated process. You need people on your side who can help you navigate the twists and turns that come along with homeownership. RateWinner exists to do just that. They will be your trusted partner, and they will work hard to provide you lower rates and fees than the big-name lenders but with even better, more personalized service.

Information at Your Fingertips

RateWinner goes above and beyond by providing you with access to everything you could ever need to know about getting your first mortgage, a second mortgage, or refinancing your home. With tons of informative content on their website, and more added regularly, you won’t need to shop around to get your questions answered. What’s more, friendly agents are only a phone call or a live chat away, and they can help to clarify things in a personal, meaningful way. read more

The Pros and Cons of a 30-Year Fixed Mortgage

Posted on March 30, 2018 by Scott Li

Many first-time home buyers are encouraged to shoot for a traditional, 30-year fixed-rate mortgage. While this is often a lofty goal, the truth is that there are some advantages and disadvantages that should be considered first. Before you decide to go with a 30-year fixed-rate mortgage, weigh the following pros and cons very carefully.

Calculating Monthly Expenses

One of the biggest advantages is the fact that your mortgage payment remains virtually unchanged over the life of your loan. There are only minor fluctuations to account for changes in insurance and property tax obligations. This makes it easy to calculate monthly expenses, and might even allow you to set aside additional money to put toward savings or retirement investments. read more

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