by Brian Ziemer | May 7, 2026 | Buying a Home
Quick answer: A 2/1 buydown temporarily lowers your interest rate by 2 percentage points in year 1 and 1 point in year 2, then the rate returns to the note rate for the rest of the loan. On a $300,000, 30-year loan at 6%, it lowers payments by about $366 a month in...
by Brian Ziemer | Apr 21, 2026 | Home Equity
Quick answer: High credit card debt does not automatically disqualify you from a home equity loan or HELOC. Lenders look at your credit, your home equity and your debt-to-income ratio, which compares your monthly debt payments with your income. If the new loan pays...
by Brian Ziemer | Apr 6, 2026 | Home Equity
Quick answer: A cash-out refinance can pay off high-interest credit cards with a lower-rate mortgage. In one example, refinancing $200,000 at 4.5% and $50,000 of 20% credit card debt into a $250,000 mortgage at 6% cuts total monthly payments from about $2,338 to about...
by Brian Ziemer | Mar 21, 2026 | Buying a Home
Quick answer: To negotiate seller concessions, know your loan’s limit, make a competitive offer, and ask your agent to include the concession in the purchase contract. Limits are 3%, 6% or 9% for conventional loans depending on down payment, 6% for FHA, a 4% cap on...
by Brian Ziemer | Mar 5, 2026 | Refinancing & Rates
Quick answer: Refinancing a $250,000 balance from 27 years remaining at 7% to a 20-year loan at 6% raises the monthly payment from about $1,720 to about $1,791, but cuts total interest from about $307,000 to about $180,000. That is roughly $127,000 in interest savings...
