The 30-year mortgage has been the mainstay of American homebuying for decades. The 30-year mortgage came about as a result of the housing crisis of the 1920s. Back then, a typical mortgage was three to five years with a variable rate, and payments only covered the interest. Often, large down payments were required. The most […]
Rising mortgage rates…To lock or not lock? That is the question!
To lock or not to lock, that is the home buyer’s choice. However, buyers need to understand this is a commitment from both the mortgage lender and themselves to close at the agreed upon interest rate. (Photo: Pexels). Over the last several years we have enjoyed record-low mortgage rates with a sense of stability. The most […]
June is Homeownership Month because homeownership matters
In 2022, homeownership is more important than ever before in the U.S. We live in a world that pressures us to rent everything – and love it. Think about it: we can rent a scooter to get around, we can use an app for car rides, we can rent clothing, we can rent workspace, we […]
Archaeology and Historic Preservation Month in Boulder
The Landmark Designation’s purpose is to honor, preserve, and protect buildings and areas that showcase the past. (Photo: Pexels). Boulder County has a rich history and residents actively want to preserve aspects of that past. Every May, Boulder County’s legacy is honored during Archaeology and Historic Preservation Month. In 1974, the City of Boulder created […]
Fair housing month
Fair Housing Month signifies a continued commitment by Realtors® across our country to expand equal access to housing. (Photo: Pexels). The Fair Housing Act was passed in April 1968. Every April since then, the National Association of Realtors® (NAR) has commemorated its passage with events and education that underscore the need to expand inclusion and […]
The new reverse mortgage – Part 2
Colorado is one of the fastest aging states in the country and Boulder County is also rapidly aging. Reverse mortgages are becoming more popular as baby boomers retire and want to maintain their standard of living. The reverse mortgage is a financial tool, which has helped many over 62 years old. In my previous article, […]
The new reverse mortgage Part 1
When it comes to buying a home, you’re never too old. (Photo: Pexels). The Aging at Altitude Expo was held at the Boulder Jewish Community Center on April 23. One of the sessions at the conference explained reverse mortgages as a financial tool for those who are 62 years of age and over. The […]
Wondering if you’re too old to buy a home?
When it comes to buying a home, you’re never too old. (Photo: Pexels). In the spirit of the Daily Camera’s upcoming event, Aging at Altitude Expo, on Sat., April 23, I thought it would be a good time to talk about buying a home during your senior years. Many baby boomers did not buy a home […]
Co-signing a mortgage for a relative Should I or shouldn’t I?
Frequently, first-time homebuyers will turn to relatives to help with a down payment or to co-sign on the loan. However, all the parties involved need to be very aware of the pitfalls before agreeing to this arrangement. (Photo: Pexels). In Boulder County, home prices have risen to record highs in a housing market with […]
Lower your mortgage payment by removing Private Mortgage Insurance (PMI)
Private Mortgage Insurance is usually required on conventional home loans in cases when the down payment is less than 20%. “Mortgage insurance” might sound like a type of life insurance that pays off the mortgage on your home for the benefit of the survivors in the event you pass away. However, Private Mortgage Insurance, known […]