Is 2021 a good year to buy a house?
Many industries faced significant problems in 2020 as a result of the coronavirus pandemic. The housing market was a different story - it thrived. Mortgage rates fell to historic lows while housing prices increased in most markets across the United States. With...
Appreciation of your home can lead to profits and a better bottom line
Owning a home can be a very smart financial decision. The value of your home is likely to increase over time. If you stay in the house long enough (typically at least 5 to 7 years), you could profit when selling your home. Housing prices can shift for various reasons,...
Tax Benefits of purchasing a home
One of the biggest benefits of owning a home is the tax breaks. Tax breaks are available for single-family homes, townhomes, condos, and manufactured homes. Homeownership tax benefits specifically come in the form of deductions. The most common types of tax deductions...
How does inflation factor into mortgages?
You may be hearing a lot about inflation over the next few months. Reduced economic activity caused by the pandemic has led to a decline in inflation. This slowing of inflation has played a role in record low mortgage rates. However, investors are now concerned that...
Refinancing to Consolidate High Interest Debt
As we said before, those Christmas credit card bills are starting to roll in. As a result of Christmas 2020, you may find that you have a sizable amount of high-interest credit card or personal loan debt. A cash-out refinance can improve your cash flow situation and...
A Cash-Out Refinance Can Eliminate Christmas Debt
It’s that time of year again. The holiday credit card bills are starting to arrive in the mail. Not only that, most people start the new year with a desire to improve their financial situations. With rates at an all-time low, a Cash-Out Refinance may be their way out....
New Year’s Financial Resolutions
The new year brings many promises for changes and improvements. As such, the beginning of a new year is a great time to improve your financial situation. In fact, one of the most common New Year's resolutions is to save more money. While there are many ways to go...
Our online tools can help you understand the numbers
There are a lot of numbers involved with purchasing or refinancing a home. Sometimes it is easier to understand the numbers when we can visualize them. Alterna Mortgage has a few interactive visual charts on our website to make the overall picture of recent (and...
FHFA Announces New Baseline Conforming Loan Limit
The Federal Housing Finance Agency recently announced a new baseline conforming loan limit for Fannie Mae and Freddie Mac in 2021: $548,250. This means that you can now borrow an additional $38,150. This can get you a house with more square footage, more land, better...
Mortgage rates fell to another record low
Mortgage rates fell to another record low last week. This marks the 13th time this year alone. According to Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage dropped to the lowest level in the nearly 50 years of the mortgage giant's survey....