Blog
18,
2017
June was another busy month in the red-hot mortgage industry. Here are some recent articles, highlights and tips for homeowners: Fed hikes interest rates and brightens economic outlook The Federal Reserve raised short-term interest rates by a quarter point on Wednesday, June 14. This was the third rate hike since December. Key takeaway: the Fed […]
13,
2017
Buying a home is one of the largest purchases you can make. It takes most people 30 years to completely pay off their home, as around 90% of homes are purchased using 30-year mortgages. Because of the high value of your home, and long timeframe needed to pay it off, it’s critical to thoroughly evaluate […]
11,
2017
Remodeling can dramatically improve your home’s livability, make it more attractive, and can boost your property value. Even if you’ve never thought of remodeling, consider the following locations in your home, and imagine whether you could improve them: Kitchen Master bathroom Living room Outdoor landscaping Patio / deck If you can think of obvious improvements […]
6,
2017
For many homeowners and homebuyers, fires are a distant concern. But recent data gathered by the National Fire Protection Association paints a different picture. In 2015 alone, fire departments across the United States responded to a staggering 365,000 home structure fires, which caused $7 billion worth of property damages. The bottom line: fires are a […]
3,
2017
Open Mortgage’s headquarters is located in Austin, Texas — a city that’s been rated America’s top city for BBQ. Several of our team members are BBQ pitmasters outside work, and we recently held our first “BBQ Smoke Off” in Austin to taste the creations of these food wizards. Rudy Flores, Jesse Clayborn, and Erik Liberatore, […]
22,
2017
Having a good credit score is an important part of the mortgage process, and it can save you you thousands of dollars over the life of your loan. While you can build a good credit score with a range of strategies, including paying your bills on time and using a secured credit card, all Americans […]
20,
2017
For homebuyers, your mortgage payment is one of several monthly costs you’ll have to pay. Other monthly costs include your property taxes, homeowners insurance, and homeowners association (HOA) fees. On top of these, homeowners can expect a substantial monthly power power bill. In the summer of 2017 alone, the average American household faces a $410 […]
13,
2017
One of the biggest advantages of owning a home is building home equity. Home equity is the current market value of a home minus its outstanding mortgage balance. In simple terms, it’s home ownership that you build by making monthly mortgage payments. Depending on the terms of your mortgage, you’ll usually pay it off in […]
8,
2017
6,
2017
Good credit is important if you’re planning on buying your first home. This is because your credit rating impacts your ability to get a mortgage as well as the mortgage rate you receive. Considering that a lower mortgage rate can save you thousands of dollars over the life of your loan, building and improving your credit […]
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