Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
A Home Equity Line of Credit, or HELOC, can be a powerful financial tool. It allows homeowners to borrow against the equity in their property, often at a lower interest rate than other types of credit. Some borrowers use HELOCs to fund investments such as real estate, business ventures, or the stock market. While this… Continue reading Understanding the Pros and Cons of Using HELOCs to Fund Investments
A Common Question for Today’s Market Many buyers are wondering if now is the right time to purchase a home or if they should wait for mortgage rates to fall. It is a fair question, especially when rates fluctuate and the headlines make it seem like waiting could save thousands. Understanding what affects rates, prices,… Continue reading Should You Wait to Buy a Home Until Rates Drop?
When interest rates climb, homeowners and buyers alike often feel pressure on their monthly budgets. Fortunately, there are strategies that can help you save money and manage your mortgage more effectively even in a rising rate environment. By making thoughtful adjustments and using available tools, you can still work toward long term financial security. Make… Continue reading Strategies to Save on Your Mortgage in a Rising Rate Environment
Buying a home can be exciting, but it can also feel overwhelming. Understanding the mortgage underwriting process can make things a lot smoother! What is Underwriting? Underwriting is when lenders review your financial information to determine if you qualify for a mortgage. They check your income, assets, credit history, and the property itself to assess… Continue reading 5 Key Steps in the Mortgage Underwriting Process
Buying a home is exciting, but the thought of monthly mortgage payments can feel overwhelming, especially for first-time buyers. One strategy to ease the financial burden is a temporary rate reduction. This type of mortgage allows borrowers to pay a lower interest rate for the first two years of the loan before it returns to… Continue reading Understanding the Temporary Rate Reduction Mortgage
The Benefits of Paying Points on Your Mortgage When you take out a mortgage, you may be given the option to pay points in exchange for a lower interest rate. A mortgage point, also known as a discount point, is equal to 1% of the loan amount. For example, if you re financing $200,000, one… Continue reading The Benefits of Paying Points on Your Mortgage
For many people, the idea of getting pre-approved for a mortgage feels overwhelming. You are asked to hand over personal financial information, trust a stranger with your credit report, and answer questions you may not feel ready to face. It is no wonder some buyers delay this step, even when they are serious about purchasing… Continue reading Why Getting Pre-Approved Feels So Intimidating, and Why It Shouldn’t
Deciding to buy a home when you know you might move within a few years can be a challenging choice. Many people wonder if it makes financial sense to take on a mortgage if they will not live in the property long term. The answer depends on several factors, including your personal goals, market conditions,… Continue reading Should You Get a Mortgage If You Plan to Move Soon?
Inflation has made a loud and lasting entrance into our daily lives. From groceries to gas prices, everything seems more expensive. One of the most significant areas where inflation leaves its mark is in the housing market, particularly mortgage rates and home affordability. As inflation continues to fluctuate, many potential homebuyers are left wondering how… Continue reading The Impact of Inflation on Mortgage Rates and Home Affordability
Getting turned down for a mortgage can be discouraging, but it doesn’t mean the dream of homeownership is over. In fact, understanding why your application was declined is the first step toward making a stronger comeback. Let’s look at some of the most common reasons a mortgage might be denied and what you can do… Continue reading What To Do When Your Mortgage Loan is Declined