Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
When buying a home, one of the most critical factors is determining how much you can borrow through a mortgage. Lenders evaluate multiple financial aspects to assess your borrowing capacity. Here’s what they consider: Income and Debt-to-Income (DTI) Ratio Lenders assess your income to ensure you can afford monthly mortgage payments. A common guideline is… Continue reading How Do Mortgage Lenders Decide How Much You Can Borrow?
Deciding to finance a new home can be exciting, and because of that buyers tend to want to jump right in. Not so fast! Before you start searching for your dream home, you need to get pre-approved and that means applying for a loan. You will need to get things in order by deciding how… Continue reading To Finance Or Not To Finance
When homeowners need access to funds or want to optimize their mortgage terms, they often face a critical decision: Should I get a second mortgage or refinance? Both options have unique advantages and considerations, making it essential to evaluate your financial situation and long-term goals before choosing the best path. Understanding a Second Mortgage A… Continue reading Second Mortgage vs. Refinancing and How to Identify Which Option is Right for You
If you’ve been diligently paying down your mortgage, you’ve likely built up a valuable asset: home equity. This financial resource can be a game-changer, offering opportunities to fund major expenses, consolidate debt, or tackle unexpected financial challenges. But with multiple borrowing options tied to your home equity, it’s essential to know which route aligns best… Continue reading What’s the Difference Between a Second Mortgage and a Home Equity Loan?
Higher education can be one of the most significant financial investments you’ll make, second only to purchasing a home. While federal loans are a common method for covering college costs, using your home’s equity is another option to consider. Before making a decision, it’s important to understand the pros and cons of tapping into your… Continue reading Should You Use Home Equity to Pay for College?
When securing a mortgage, buyers aim to lock in the best possible interest rate. But what if interest rates fall after you’ve closed on your loan? Are you stuck with your current rate? The good news is that you may have options, whether your loan is brand-new or you’ve been paying it off for a… Continue reading What to Do If Interest Rates Drop After Getting a Mortgage
Dreaming of owning a home? Preparing your finances for a mortgage is key to making that dream a reality. Here’s how to get started: 1. Create a Budget Understanding how much you can afford is the first step. Review your monthly expenses and set a target mortgage payment that aligns with your budget. For example,… Continue reading How Can You Prepare Your Finances for a Mortgage?
When you’re in the market for a home loan, you’ll likely come across terms like “mortgage broker” and “mortgage originator.” While these professionals play critical roles in helping you secure financing, their responsibilities and how they serve you differ significantly. Understanding these distinctions can empower you to make informed decisions during your home-buying journey. What… Continue reading Differences Between a Mortgage Broker vs. Mortgage Originator
As the year draws to a close, it’s the perfect time to take stock of your financial health and set yourself up for success in the coming year. You can create a solid foundation to achieve your goals by focusing on key areas. Here are five important financial tasks to consider before the new year… Continue reading 5 Financial Tasks to Tackle Before the New Year
As the year draws to a close, it’s the perfect time to take a step back and review your financial health, especially if you plan to purchase a home next year. Whether you’re a first-time buyer or looking to upgrade, proper preparation can make all the difference when securing a mortgage with favorable terms. Here’s… Continue reading Steps to Prepare for Future Home Financing and Year-End Financial Checklist