Do’s and Don’ts of Down Payments

Don’t leave your down payment for the last minute. Gathering funds as soon as possible will save you time and energy later. If you’re shopping for a house, you should already be thinking about your down payment. Partially, this is because your down payment has a big impact on what you can afford. While there are many options for low …

Advantages of a 40 Year Mortgage

You can get a 40 year mortgage! (And we have them at Newfi.) But it’s important to understand the advantages and disadvantages of 40 year mortgages before you consider one. First, it’s important to understand that there are two main types of 40 year mortgage available: Fully amortizing. With a fully amortizing 40 year mortgage, every payment you make goes …

The Advantages of a 15 Year Mortgage Refinance

If you’re looking for a way to significantly reduce your total mortgage expense, or to pay off your loan much, much faster, you should really look at switching to a 15-year fixed rate mortgage. At this moment 15-year fixed interest rates are 0.75% (or more!) below the 30-year fixed rate. That means significant savings over the life of your loan — …

The 40-Year Mortgage is Real

The 40-year mortgage is real, and it’s here at Newfi! People talk about 40-year mortgages as if they were mythological beasts of old, like dragons, gremlins, or presidents who never told a lie. But 40-year mortgages are real, and they’re here at Newfi! Now, our 40-year mortgage isn’t a standard mortgage, where each month your pay down your interest and principal. …