What You Need to Know If You’re Thinking About Buying Your First Home
Buying a home can be exhilarating and liberating. For many, it signifies the realization of the American dream. It can also be daunting or scary, with buyers likely taking on the largest debt of their lifetimes. Becoming a...
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Mortgage Insurance – How it Works and When You Need It
Mortgage insurance has two main benefits. It can help you qualify for a home loan you might not otherwise be able to get and helps protect or lower the risk to the lender for making a loan to...
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What Is an Escrow Account?
When you close on a mortgage, Town & Country Federal Credit Union may set up an escrow account where part of your monthly loan payment is deposited to cover some of the costs associated with home ownership. The...
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Home Equity Loans Become a Popular Alternative with Rising Mortgage Rates
Homeowners who have purchased in the last year or two might be looking at their situation right now and feeling pretty lucky: They bought before interest rates skyrocketed, and some are sitting on significant home equity. If you're...
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10 Home Improvements that Pay Off
If your home is feeling dated or in need of repair, now may be the time to plan for some improvements and upgrades. Whether you simply want to make your space more functional and enjoyable for you and...
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Mortgage Application Checklist
One of the most tedious parts of home buying is gathering the documents you will need for the application but prepping beforehand makes this task much easier. The documents required for a mortgage application can be categorized into...
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Working with a Mortgage Lender
Applying for a mortgage is a big undertaking. Most lenders require you to complete a mortgage application—a comprehensive financial statement. The information you provide on your mortgage application determines whether you qualify for a loan and how much...
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Moving? 7 Money Saving Tips
Whether you are looking to upsize, downsize or just take advantage of the hot real estate market, your plans will likely need to include a move to your new home. Chances are you don’t want to spend more...
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What is mortgage refinancing and how does it work?
Mortgage rates are still at lows, giving homeowners who haven’t already taken advantage of lower borrowing costs an extended opportunity to refinance. The mortgage refinancing process isn’t much different from what was involved when you first got your...
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Six Ways to Maximize Your Home’s Equity Now
Hardly a day goes by where we don’t see something in the news about the wild housing market here in Maine. Or hear stories about houses in our neighborhood that have sold in days for thousands over the...
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