Answer these questions to help you decide whether moving up
How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you dont build up much equity in the first few years of paying a mortgage, but if youve owned your home for a number of years, you may have significant unrealized gains.
Has your income increased enough to cover the extra mortgage costs and the costs of moving?
Does your neighborhood still meet your needs? For example, if youve had children, the quality of the schools may be more of a concern now than when you first purchased.
Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited. Also, do you want to undertake the headaches of remodeling?
How is the home market? If its good, you may get top dollar for your home.
How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.
Questions about Lendem Financial mortgage loan options? Why you should think about using a mortgage broker vs a bank? Using a Mortgage Loan Officer that has access to all sources of lending institutiuons helps people get the best loan for their situation and offers all options on the market vs the programs at one bank. Call Todd Rubick of Lendem Financial and tell him why the bank said no... If your tax returns do not show your true income, or credit is less than perfect... Full service all source lending strategies will be offered for those that need them.