Blog

How to Get the Lowest Mortgage Rate Possible

Everyone in the market for a new home is looking for the lowest mortgage rate possible. The lower your mortgage rate, the less money you owe per month. In other words, your rate will determine which homes you can afford and which are out of your price range.     So what can you do to qualify for a lower rate and expand the market of houses you can afford? There are a few tricks that can help you, but first it’s important to understand how your rate is determined. Remember: The less risk you present to lenders, the better the rate they’ll offer you. Len...

September 24th, 2015 How to Get the Lowest Mortgage Rate Possible

How can your finances affect your mortgage rate?

Everybody knows that the lower your mortgage rate is, the lower the monthly payments on your home will be. The difference between a 4 percent rate compared to a 5 percent rate may seem small, but that 4 percent rate can actually save you more than $100 per month over a span of 30 years compared to a 5 percent rate. That’s a difference of approximately $36,000 over the life of that mortgage, which can equate to things like college tuition money or savings toward retirement. The mortgage rate for which you qualify will literally determine your budget on the market, and thus what hous...

August 31st, 2015 How can your finances affect your mortgage rate?

The 10 Commandments of Buying a Home

Is a new house on your horizon? While you’re daydreaming about your home-to-be, don’t forget to make planning a priority. Preparing for a new mortgage takes time and can be an added source of stress for new and veteran homeowners alike. To lessen the burden and provide you with guidelines to follow, we’ve created the ten commandments of buying a home. For best results, follow the important rules listed below! Thou shalt not change jobs, become self-employed or quit your job - No one is suggesting that you stay in the same job forever or avoid exploring new opportunities...

August 3rd, 2015 The 10 Commandments of Buying a Home

Why you shouldn't use the 30% rule

Owning a home can be one of the most rewarding experiences of your life. Ironically enough, it can also be the most costly. Your home’s mortgage is something that you have to deal with on a regular basis, and to get that mortgage, a bank had to evaluate your income and make a decision concerning lending. You also had to make a decision about what you were able to afford. For many of you, a rule was used, the 30% rule. While this may have been reinforced by others, and while even your bank might have considered it, it is not the end-all of lending, and in fact does not take some prime fac...

June 29th, 2015 Why you shouldn't use the 30% rule

Is It Possible that the New FHA Rules Could Save You Money?

What would you do with an extra $900 in your pocket each year? Redecorate? Enjoy a spur of the moment getaway? Thanks to the new FHA rules, your wallet may actually be a bit fatter come this time next year. Obama and the U.S. Department of Housing and Urban Development announced some changes regarding Mortgage Insurance Premiums (MIPs) this past January. MIPs for FHA loans have been reduced by 50 basis points or half a percent. They are down for the first time since 2001 and FHA rates are at their lowest in nearly 2 years. Things look pretty good for prospective home buyers and homeowners wi...

May 26th, 2015 Is It Possible that the New FHA Rules Could Save You Money?

Refinancing Could Create Huge Savings for Millions of Homeowners

Paying the bills is never easy and the old saying of "too much month at the end of the money" is especially terrifying when you're trying to pay off your home's mortgage. For most people, there's no expense more important than the house. This is where you live, the place where you build equity, raise a family, or even consider living out your golden years in retirement. Keeping up on the house payment is critical, but what if you are paying too much for your loan? While this sounds crazy, millions of people are doing just that, even in 2015! What Are the Benefits of Re...

April 28th, 2015 Refinancing Could Create Huge Savings for Millions of Homeowners

Ace Mortgage Company

711 River Highlands Blvd.
Covington, Louisiana 70433
Phone: 985-888-1660
Fax: 985-888-1665
Email: phil@acemortgagela.com
NMLS: 49604