Whether the purpose is to work on home improvements, pay off debt, or avoid paying PMI (Private Mortgage Insurance), second mortgages let you borrow against the value of your home, using your home as collateral. However, second mortgages often come in at a higher interest rate than your first mortgage. Why is this? Well, there… Read More
Galaxy Lending Group's Blog
Traditional loans require 20% down. On a $200,000 home, the down payment would be $40,000. That’s a considerable sum of money to generate.… Read More
Calculations regarding the duration and amount of the loan coupled with changing interest rates can make it a scary prospect. Get familiar with your current agreement with your lender to make sure you are making an educated choice.… Read More
When it comes down to it, you have to consider if you can afford to purchase a home and comfortably pay the mortgage. This often results in a dangerous guessing game.… Read More
There is a very good chance that home buying in winter will result in finding properties that are a lot cheaper. Realtors and loan companies know it’s hugely beneficial for home hunters to buy during the winter. A seasonal low is usually reflected on the price tag for properties on the market during this time of year.… Read More
This is an exciting time. Buying a home, moving and reorganizing your life can feel like a fresh start. Is it out with the old and in with the new? Will you be getting new furniture for your new place? Did you check out the school district and look at neighborhood statistics? These are things… Read More
