How Mortgage Rates Affect Your Buying Power

The news has been filled with headlines about changing mortgage rates.  While they have risen since the low point in January 2021, they are still at historically low levels, which continues to create a sense of urgency for buyers who want to lock in a low...

Pros and Cons of a 20% Down Payment

While a 20% down payment used to be the norm, now most lenders allow buyers to purchase a home with a much lower down payment – as low as 3% – 5%.  Even with low down payment options, many consider 20% to be the ‘golden rule’ of purchasing a home....

Home Searching Mistakes

When there is low inventory and competition from other buyers, you have to change your approach to the home search. A seller’s market, like the one we are currently experiencing, doesn’t mean it’s a bad time to buy (especially with today’s low mortgage rates). It just...

Should I Refinance My Mortgage?

Mortgage interest rates have been hitting new lows this summer. Which leaves many homeowners asking: should I refinance my mortgage? In July, refinance applications were up 111% compared to last year, according to Mortgage Bankers Association. For homeowners with a...

What are my closing costs?

As the market continues to pick up in Connecticut, buyers and sellers are putting homes under contract. This exciting step always invites the question: What are my closing costs? Buyers and sellers have their own fees at closing. These fees pay for the services and...