How to tackle high-interest debt High-interest debt, such as credit card debt, personal loans, payday loans, and auto loans with interest rates of 8% or more, can be a significant financial burden. Financial advisors often recommend prioritizing the repayment of such debt before other financial goals. If you find …
Mortgage refinancing benefits
Refinancing your mortgage-discover the benefits Refinancing your mortgage can be a strategic move to improve your financial health. There are various reasons to consider refinancing for New Hampshire homeowners. You may want to consolidate debt and free up monthly cash flow or access your equity for home upgrades or …
What is the difference between conventional and FHA loans?
What is the difference between a conventional loan and an FHA loan? The most popular type of mortgage is the 30-year fixed-rate loan. It gives homebuyers three full decades to pay it off, resulting in smaller payments over a more extended period. A 30-year fixed-rate loan is a conventional loan. It offers flexibility …
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MEP’s Advantage Down Payment Assistance Program
What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today's market to make homeownership more affordable for New Hampshire residents. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the …
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What is mortgage insurance?
What is mortgage insurance? Mortgage insurance, or MI, gives eligible New Hampshire homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of …
Key differences between fixed-rate and adjustable-rate mortgages
Know before you sign! Definitions The best way to understand the differences is first to understand what each loan is all about. Let's start by defining both options: A fixed-rate mortgage is a home loan with an unchanging interest rate for the entire loan duration. An adjustable-rate mortgage is also called an ARM. …
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