equity Archives - Athena Paquette

by Athena Paquette | November 17, 2022 | Blog | 0 Comments

A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...

How raising the prime rate makes mortgage rates go down

by Athena Paquette | September 26, 2022 | Blog | 0 Comments

I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...

Mortgage Minute – ARMS and HYBRIDS

by Athena Paquette | September 19, 2022 | Blog | 0 Comments

What do you do when mortgage interest rates jump up 2% in 4 months? Don’t go LONG, go SHORT use a HYBRID ARM loan ARM means adjustable-rate mortgage. But some people are not comfortable with the idea that their mortgage payment and that the interest rate will start...

Mortgage Minute – Adjustable rate mortgages or ARMS

by Athena Paquette | September 12, 2022 | Blog | 0 Comments

When rates go up, we usually see a switch over from the 30 year fixed to ARM loans. Why go LONG at a high rate when you can go short at a lower interest rate and get the upfront savings? People do this to help ease the payment shock of rates going up and to help them...

Do You Need 30% Equity in Your Current Home to Buy a New Home?

by Athena Paquette | Mar 12, 2016 | Blog, Home Owners, Investors, Realtors

You need to have 30% equity in your old home before you can buy a new home and also keep the old home. FALSE! Fannie Mae recently decided to change that requirement. Now as long as we can show market rent, even if you are upside down in equity on the current home, you...

You Cannot Finance Land

by Athena Paquette | Nov 6, 2015 | Blog, Home Owners, Investors, Realtors

You cannot finance land. FALSE! There are financing options for land, though they require more equity (or down payment). I had a client this week who has 20 acres of land with a house and utility buildings on it. This is typically not a Fannie Mae or Freddie Mac loan,...

You Need 20% Equity to Refi Your Home to Avoid PMI.

by Athena Paquette | Jan 20, 2015 | Blog, Home Buyers, Investors, Realtors

FALSE! Yes! You can refinance with just 10% equity, in some cases 5% equity with no monthly PMI. There are 4 ways to avoid PMI. Do our famous piggy-back loan where we give you one loan up to 80% of the value of the home and the rest on a second, or piggy back, loan....

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What is a mortgage?

How raising the prime rate makes mortgage rates go down

Mortgage Minute – ARMS and HYBRIDS

Mortgage Minute – Adjustable rate mortgages or ARMS

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Do You Need 30% Equity in Your Current Home to Buy a New Home?

You Cannot Finance Land

You Need 20% Equity to Refi Your Home to Avoid PMI.

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