As people go through their lives, they are faced with many big financial decisions, like buying a home, what kind of insurance do I need and how much of it? These decisions are tough to make when you don't have wise advise.
Making a bad call when it comes to finances, can definitely hurt because it can affect your relationships and loved ones; maybe it was a mortgage that had high fees or interest rate or a terrible / stressful process, or it could have been your insurance policy that left you unprotected to eventual losses, just to name a few.
As I began to go through these different financial processes in my own life, I realized how wrong business in this industry was conducted and I felt upset, taken advantage of, and that left me wondering if I had made bad financial decisions which really began to weigh on me.
So I created Fox Financial to make a difference and stand against the unfairness that so many people in our community experience. Fox Financial is a group of companies designed to guide people on their financial journeys. Our objective is to develop genuine relationships with people and provide home loans & insurance with wise advice.
Founder of Fox Financial
So you own a home and you have a super low interest rate on it…which makes you not want to go buy another house right now while rates are way higher than what you currently have...but what if I told you that you could use your low interest rate on your current home to help you buy another one?
Unless you have been living under a rock, I am sure that you have probably heard about interest rates rising. Rates seem even higher right now because they were so low just a short time ago. It is important to realize that interest rates were so low recently because of the government's response to COVID-19 and now that they have risen so quickly, it seems worse than it really is. However, this still leaves many potential homebuyers feeling like they can't afford to purchase a home...but what if I told you that your interest rate doesn't really matter?
The 20% down payment rule for buying a house is a common guideline that has been passed down for decades. But where did this rule come from and is it still necessary today?