Mortgage & Refinancing
All About Mortgage & Refinancing for Financial Freedom
Buying a home, building equity, and refinancing are all parts of becoming a homeowner, or a real estate investor.
It’s fun to daydream about buying that perfect home of your own and relaxing in the glow of a fireplace or throwing a dinner party. But to take it from daydream to reality, there are a lot of questions to answer. How much do you need down to buy a house? Is a down payment keeping you from getting into the home of your dreams? How much can you borrow to buy a home?
The good news is, banks aren’t secretive about what they’re looking for. You should have a good idea of your chances for mortgage pre-approval before you walk in the doors.
Some people hold back on searching for a home because they don’t have enough to put down, but might be in a better position than they think. Depending on which kind of mortgages you qualify for, you could get into a home with less money down than you expect.
Once you get your home, you begin to accumulate equity every month that you pay your mortgage. Over time, you can refinance for lower interest rates, or do cash-out refinancing from your equity to borrow money to make improvements on the home, or to purchase another home—a common practice for real estate investors.
To learn more about mortgages and refinancing, read our articles covering every angle of this topic below. And if you want to learn more about planning your financial future, download 5 Steps to Your Financial Freedom for FREE today! If you enjoy what you learn and would like to join our community of like-minded people like yourself who are planning their financial freedom, I recommend joining the Financial Freedom Federation Gold Club.
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