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Myths about Refinancing: Get the Facts

The interest rates are currently lower than they’ve ever been, and this has many homeowners wondering if they should take advantage by refinancing their existing loan. Given the number of myths surrounding refinancing, the entire process can be confusing and overwhelming. In order to make the decision easier, you need to understand the myths, and the truth about them. Myth #1 – If you’ve tried to refinance in the past, but were turned down, there is no point in trying again. The Home Affordable Refinance Program, or HARP, is a program designed to help those who want to ...

March 30th, 2015 Myths about Refinancing: Get the Facts

Does Low Down Payment Mean More Risk?

Federal Housing Finance Agency Director Melvin Watt’s decision to lower down payments from the previous 5% to 3% has received criticism from the House Financial Services Committee (HFSC). Committee members claim that Watt’s decision, which allows both Freddie Mac and Fannie Mae to purchase loans with lower down payments, has the potential to lead to another lending crisis due to risky lending practices. However, if you consider the other factors of providing credit, Watt and others believe that this just is not the case. Down Payments a Major Factor in Home Ownership For many...

February 23rd, 2015 Does Low Down Payment Mean More Risk?

Why Now Is a Good Time to Buy a Home

If you’re in the market for a new home, you may still be slow to pull the trigger, given the state of the economy over the last few years. This is perfectly understandable, of course. However, it’s also important you get past this initial cautiousness. As it turns out, now is a great time to purchase a home, so don’t let this opportunity pass you up. First, let’s look at some important trends that make now such a good time to buy a new home. The Economy Is Improving For one thing, the economy showed real signs of improvement in 2014—something everyone...

January 28th, 2015 Why Now Is a Good Time to Buy a Home

Can You Use Home Equity to Deal with Holiday Expenses?

Let’s face it, the holidays can be a rather expensive time of year. By the time you buy all those gifts, host and attend a few parties, and buy everything you need to transform your home into a winter wonderland, you can quickly find that you are spending hundreds of dollars. When this happens, you may start trying to figure out ways of getting a bit of help to cover all of these extra costs. One thing you might be considering is a home equity loan. However, is this a good idea? Keep reading to find out. What Is a Home Equity Loan? These types of loans are given as a percentage...

December 15th, 2014 Can You Use Home Equity to Deal with Holiday Expenses?

Should I Pick a Mortgage Broker or a Mortgage Lender?

Receiving a mortgage is a necessary step for the vast majority of people in the market to buy a home. While it may be necessary to secure a mortgage, it’s just as important to pick the “right” one. This means getting the best deal, less you wind up overpaying every month of every year for the next three decades. This is why it’s important to understand the difference between a mortgage broker and mortgage lender, so you’ll have a better shot at choosing the party that will best serve you. What Is a Mortgage Lender? A lender is the party that provides the bor...

November 26th, 2014 Should I Pick a Mortgage Broker or a Mortgage Lender?

If Ben Bernanke Can't Refinance, Can You?

If you pay attention to financial news, you may have been shocked recently to discover that the former head of the Federal Reserve, Ben Bernanke, can’t refinance his mortgage.     A Shocking Revelation Like most people, this probably doesn’t seem to make a lot of sense to you. Seeing as how he once headed the most important financial institution in the world, one would think he’d probably have some friends in high places who could help him out. On top of that, it’s not like Mr. Bernanke is hurting for financial collateral. He gets somewhere ...

October 29th, 2014 If Ben Bernanke Can't Refinance, Can You?

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Ace Mortgage Company

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