ENB Insights

You’ll want to weigh your options carefully and choose the type of mortgage that makes the most sense for your individual situation.

As long-term interest rates remain at near-historic lows, it seems like everyone from casual acquaintances to close relatives has an opinion on how far rates have to drop before it make sense to refinance. With so many different points of view, how does one make a decision that’s right for them?  We’ve come up with 5 questions to ask yourself in order to decide if refinancing your home mortgage is right for you.

Should you rent or should you buy a home? Learn the 6 questions you need to ask to weigh the benefits and drawbacks for both.

In our most recent online poll, we asked our customers: what is preventing you from applying for a Home Equity Loan or Line of Credit?

Do you feel like you are being bombarded with Home Equity advertisements from banks and credit unions you’ve never even heard of at every turn? While you may be tempted to apply for these offers, it may actually be more beneficial to consult with your banker where you have your banking relationship.

No matter how experienced you are, buying a new home is always daunting. A main reason is the commitment involved.  When taking out a mortgage, you are literally putting your home on the line because failure to make payments puts your home at risk.  For that reason, it’s important to determine what you can realistically pay for your next home.

Are you dreaming of owning your own home? Are you thinking that you can’t afford to buy a home so you continue to pay rent? Buying your first home may be more affordable than you think.

In our most recent online poll we asked, “Is it wise to use a home equity loan for general living expenses?” The majority of respondents said “no,” and we would agree. Using a home equity loan for general living expenses creates an opportunity for you to spend more than you earn.

Have you or a loved one ever received a call, email, or text message from someone claiming to be from the government? If so, this may have been a government imposter scam. These scammers attempt to get their victims’ money and personal information by posing as a government official, and their targets often include elderly individuals.

Looking for your first home can be a stressful process. What seems to include only one or two decisions can actually turn into a much more complicated process, leaving you feeling overwhelmed and the whole process feeling impossible. Luckily, our mortgage team at ENB has compiled 5 tips for first-time homebuyers to follow that will make the process go a little smoother.