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30-year Mortgages vs. 15-Year Mortgages

The majority of American home buyers sign up for 30-year fixed-rate mortgages (FRMs) – the staples of mortgage lending. And yet there is another option that may serve many borrowers better: the 15-year fixed-rate mortgage. Both loans include an interest rate that does not change over the course of the loan but one is paid off twice as fast as the other. Both can be financially savvy in certain situations. Payments If you are looking for the lowest monthly payment, a 30-year FRM beats the 15-year. That is because the loan principal balance is paid off twice as slowly than the 15-yea...

November 7th, 2018 | Conventional Loans, Mortgages, Mortgage, 30-year Mortgages vs. 15-Year Mortgages

Should I Roll My Student Loans into My Mortgage?

Americans owe more today in student loans than ever before and student debt is continuing to rise. As these borrowers start into their careers and become homeowners, they may have the opportunity to consolidate their student loan debts with their home loan. If this sounds intriguing to you, here’s what you need to know before talking to your lender: How Does Consolidation Work? If you have enough equity in your home, you can refinance to pull cash out and pay off all your student loans. This means that both debts will now all be paid off together through your monthly mortgage bill....

September 26th, 2018 | Mortgage, Debt Consolidation , Should I Roll My Student Loans into My Mortgage?

Acadia Lending Group LLC

190 Riverside Street Unit 4B
Portland , Maine 04103

Phone: 207-899-4500

Fax: 207-899-4503

NMLS: 370636

 

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