Pen Fed’s 15/15 ARM is a unique product. Although technically an adjustable rate mortgage, it adjusts only once during the life of the loan, and at the year 15 mark. With rates lower than a 30 year fixed, it is … Continue Reading

When my husband and I were house hunting several years ago, we were shocked at what some lenders were willing to “give” us in terms of a mortgage. This was before the housing market crash and financial crisis, in the … Continue Reading

There’s no disputing that a college education is expensive, so naturally, many parents want to help their children pay for their education. But unfortunately, most parents don’t have hundreds of thousands of dollars stashed away to pay for college. One … Continue Reading

One of the reasons that people buy homes is that it’s possible for them to build value, or equity. As you pay down your mortgage, and as your home appreciates in value, it’s possible to increase the value of your … Continue Reading

When it comes to buying a home, some consumers don’t worry too much about the mortgage rate. Instead, they are more concerned about getting approved, and buying the home in general. If your goal is to get into a house … Continue Reading

Not all debt is created equal. When someone says, “I’m in debt,” it could mean a whole number of things, depending on the type of debt, amount of debt and what they own because of it. So which kinds of … Continue Reading

We’re often told that an adjustable-rate mortgage (ARM) is a Bad Idea when buying a home. After the recent mortgage crisis, ARMs got an even worse reputation. However, even though an ARM can be devastating to some homebuyers, it’s not … Continue Reading