There are several ways to pay off your mortgage faster and save on interest payments. Even better, not all methods require spending a lot of extra money! Take a look at the list below: Make extra principal payments.  You can pay extra money toward your mortgage balance each month or make a larger, lump sum payment on your principal each year. This reduces the amount due on the mortgage as well as reducing the amount of interest that will accrue. Extra money can also be added to the principal payment from bonuses, gifts, savings and extra earnings. Just remember to make a note on the check for the money to go towards the principal! Make one extra mortgage payment per year. One of the easiest ways to make an extra payment each year is to pay half your mortgage payment every other week instead of paying the full amount once a month, otherwise known as “bi-weekly payments.” With these payments, an extra payment is made so that the total number of payments that one makes adds up to 13 payments in a year rather than the 12 that would have been made with monthly payments. This adds up to significant interest savings over the duration of a mortgage. You also want to make sure that if your lender accepts this kind of payment they will not charge you a prepayment penalty. Also verify that the bi-weekly payments are being applied to the principal amount and not the interest. Otherwise, you won't notice the savings. Reduce your balance with a lump-sum payment. Have you inherited money, earned a bonus or commission, or sold a large item? You could apply that amount to your mortgage’s principal balance. Another option is any time you have a month where you have that third paycheck, apply that to the principal on your mortgage. This will happen twice a year, adding an extra principal payment to your mortgage loan. While paying down a large debt is nice, it's not a requirement. Consider making sure you have enough to work toward other financial goals, such as an emergency fund, before paying more on your mortgage. However, there are many options you can explore that best fit your budget. You can learn more about buying your first home with our Get Mortgage Ready Guide below.

Everyone knows that moving to a new home or apartment is an aggravating, tedious chore, but once you have a family, moving can become a truly daunting task. Obviously, there is a lot to be excited about with any move – more space in a new neighborhood, a new job or just a change of scenery. For young children, however, it can be a serious disruption.

  If you’re thinking about buying a house, you’ve probably heard the term “credit score.” This 3-digit number tells a bank how likely it is that you can pay back your loans, and it’s based on things like the amount of debt you have, loans you’ve had in the past, and your repayment history. The higher your score, the more likely it is that a bank will lend you money.   You’ve earned your score by taking good care of your finances, so you want to be careful about anything that might take away from it. And one thing that can subtract points from your score is a credit inquiry.   “But wait!” you say. “Aren’t I supposed to get pre-approved for my mortgage before I start looking at houses? And doesn’t a pre-approval count as a credit inquiry?”   Good question, but when it comes to pre-approval, your credit score is safe. Here’s why.  

Every once in a while, the stars align and things fall perfectly into place. That’s the case right now, with tax returns and stimulus checks coming in just in time for the spring home buying season! With a little planning, you can use this income to put together a down payment for your next home.  

Good credit, low debt, and a steady income could get you low interest rates and terms.

While no one has ever said buying a home is a simple process, wouldn’t it be nice to reach out and press the “easy” button when it comes time to qualify for your mortgage. If you’re an active member of the military -  or a veteran - qualifying for a VA home loan might be the next best thing.

 Are you looking to buy a new car, apply for a mortgage or pursue a new career opportunity anytime soon? Then you may also know that your ability to secure a loan, a low interest rate, and even that coveted new career position, is dependent upon a vital piece of financial information – your credit score.

  Buying a house can leave you feeling overwhelmed and under-informed.  Not only are you spending every waking hour searching for your perfect home,  you also have to think about how you're going to pay for it.  And when choosing a mortgage, it's important to find one that works with your budget now, and also 15- to 30-years down the road as well. Because the world of home financing can be a confusing one, let's take a look at two of the most popular loans in the housing market: Conventional and FHA.

Is it time for you to get out of the rent race and buy a home of your own? There are plenty of advantages to homeownership. And while buying isn’t right for every person or for every life stage or circumstance, there are several perks of homeownership that tend to stay stable over time. These include building long-term equity, the comfort and pride that can be associated with owning your own home and, of course, lower overall monthly cost.

If your mailbox could talk, what would it say? “Hey Susan, here’s more coupons for your favorite Moose Tracks ice cream you can't get enough of, an overdue bill for your monthly $50 gym membership, and two new pre-approved loan offers from financial institutions you never requested.”