APM BLOG

Owning your home provides safety, security, and stability when it comes to your living situation, especially if you have a fixed-rate mortgage. Knowing that your mortgage payment will never increase and a landlord will never ask you to move can do wonders for your psyche—and your sleep!

You know the one thing that can provide even more safety, security, and stability? Paying off your home loan early. The best part is you don’t have to write a massive six-figure check to do this. Making as little as one extra mortgage payment a year can yield big-time results, and savings, as you work towards paying down your principal.

Making extra mortgage payments can be done in a few ways.

Getting into debt can be fun for a moment (hello, last-minute trip to Cabo!), but that debt hangover will last long after those margaritas have made their way out of your system. Once your splurge is over, you’re left with a long-term debt obligation that may grow ever larger, thanks to compounding interest.

Let’s face it, debt is the pied piper that demands you sacrifice current and future wants and needs for past spending. It can also prevent you from achieving your goals if this debt hurts your credit score or results in a high debt-to-income ratio, making it harder to borrow more money.

So, nip that obligation in the bud and get that piper off your back by managing debt effectively.

The New Year is full of new goals. For many, planning to buy a house is one of them—and who could blame them? With interest rates teetering at historic lows, the door for many borrowers has been opened, and these rates have provided some borrowers the opportunity to increase their price range.

If you’re ready to get the process started to ensure you’ve got all your ducks in a row when it comes time to pull the trigger and submit an offer on a house, APM is here to help with planning tips for buying a home in the new year.

New Year, new you, right? This mantra doesn’t just apply to fitness goals—it encompasses all the resolutions you commit to tackling in 2021 with renewed purpose. For many, those resolutions take the form of financial goals (hey, new year, new home does have a nice ring to it!).

Whether you’re looking to make a big-ticket purchase, plump up your savings account, or embark on a trip around the world once COVID-19 is history, establishing a few financial goals will ensure your wallet and heart are on the same page.

The 2020 holiday season will undoubtedly be one for the books. While the phrase “home for the holidays” may take on new meaning, there is still lots to be thankful for as we inch toward the New Year.

Here are just a few things on our radar.

Interest rates are one of the biggest factors that can influence your homebuying process. This little—or big—number can dictate how much house you can afford . . . and if you can afford to buy a house at all. With so much riding on this figure, it’s important to understand what determines interest rates.

Now, we know what you’re thinking: I know what determines interest rates. My credit score and the size of my down payment! And you would be correct on that, to some degree. While credit score and down payment are two factors that may impact the exact mortgage interest rate offered to you, there are larger interest rate factors at play that determine where these published rates will land day in and day out.

Though you may not know it, there are five surprising factors that can influence mortgage interest rates.

When we think of Thanksgiving celebrations, we likely think of family, friends, amazing food, festive cocktails, and tunes. We also may think of that post-feast nap on the couch! You likely have already established your traditions over the years that might include specific menus, pre- or post-dinner activities, and even the guest list. Traditions are a wonderful way to bring family history and beloved memories with us throughout the generations. While it’s important (dare we say imperative?) to keep traditions going, it’s also fun to create new traditions to add to the mix as well.

There are so many VA home loan benefits that make this the ideal lending vehicle for service members, veterans, and surviving spouses. But you can’t use these benefits to buy a home if you don’t understand what they are—or who qualifies for them.

So let’s get right to it.

As an active-duty service member, veteran, or surviving spouse of a veteran, you’ve made your country proud and, now, we hope to do the same for you. That’s why American Pacific Mortgage is honored to work with you to obtain affordable VA loans that can help our service members and their families achieve their American Dream.

You’d love to own a vacation home (who wouldn’t?!) but you’re not sure if you can afford it, or even qualify, on your own. Buying a vacation home with family can be the best of both worlds: you get the option—and prestige—of owning a second home, but you only have to pay a fraction of the costs.

Sounds like a dream come true, right? Buying a home with family can be, but that all depends. There are many factors to consider before you plunk down your hard-earned cash, sign those documents, and show up to your new vacation home…only to find your sister’s car in the driveway.

Halloween, as well as our everyday lives, looks a bit different this year. We’re navigating through a pandemic and adapting at every turn. Halloween brings a unique set of problems when you have little ones, who sometimes plan months in advance for the big day. The good news is that we can still make it fun and safe  for everyone with a little planning and creativity. Here are a few out-of-the-box ideas to consider:

You’ve submitted all your financial documents, completed your paperwork and secured your new home loan or refinance. Pop some champagne and celebrate all that you have accomplished! Though this may feel like the end, it’s actually just a stop on your homeownership journey. 

Identifying your dream home is an important step in the homebuying process – but you’ve still got to close the deal! Putting in an offer on a home can be nerve-racking. After all, once your offer is submitted, it’s out of your hands and up to the seller. This is why you should do everything possible beforehand to ensure your offer stands out from the rest and looks as attractive as possible to the owner.

The new COVID world has been challenging for all of us. From working from home, while assisting children with distance learning, and trying to keep a household running is a lot on the plate! With this new normal, we’ve put together a few tips to help balance the thousand balls you have in the air. 

Today’s low interest rates have spurred interest in something else: refinancing! There has never been a better time to refinance your mortgage if you’re looking to secure an insanely low rate. 

You’ve been amazing in your dedication to helping our country and communities as we grapple with the COVID-19 pandemic. While we know your job is far from over, we want to show our appreciation by offering front-line medical professionals a mortgage discount that puts a little more money back into their pockets.

If you or your loved ones have been affected by a wildfire, our hearts go out to you. In this time of hardship and loss, we at American Pacific Mortgage send you our deepest sympathies and can only hope for a sense of calm and safety to be restored for you as soon as possible.

We’re all searching for a little certainty nowadays. At a time when it seems like everything is changing, you can at least buy yourself a little peace of mind in the homebuying process by getting pre-approved.