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Mortgage rates have been on the rise since around August of last year.

Rates, which on a 30-year fixed mortgage were at an all-time low of around 3.25% last year, are now not expected to go lower than the 4% mark anytime soon. This seemingly small hike can add hundreds, sometimes thousands, of dollars to a home buyer’s yearly payments. 

For example, for a $200,000 house at the rate of 3.25%, your monthly mortgage payment would be $870.41. For the same house at the current rate of 4.25%, the monthly payment would be $983.88. Over the course of a 30-year loan, that extra bit a month adds up to $40,000.

"Experts in the field expect that mortgage rates will remain at this plateau for now or will rise in the near future," says Christina Lane, senior mortgage…

Whether you’re a first-time home buyer or have gone through the process before, taking the leap into buying a home can be a nerve-wracking experience. But the good news is—it doesn’t have to be! There will always be some aspects of the home buying process that are out of your control, but there are ways to minimize the stress involved! Check out our tips for a less bumpy home buying road: 

1. Know what you want (before you look) 

When you’re already out seeing homes with your agent, it isn’t the time to be deciding how many bedrooms you want, the type of floor plan you need or the area in which you want to live. There are so many things you can narrow down before you ever see your first house, which will save you time and stress in the long run.…

Taking the leap from renting to buying a home is one of the biggest financial decisions a person can make. But did you know than a monthly mortgage payment can often be cheaper than paying rent? 

According to a study done last year by trulia.com, buying a home is 23% cheaper than renting nationwide. To put that into perspective, consider that as of May 2016 the average rent for a one-bedroom apartment in Chattanooga is $792 and a two-bedroom comes in at an average of $965, according to rentjungle.com. This is a pretty hefty sum of money to be putting toward something that won’t be an investment for you in the long run.

With mortgage rates at an incredible low and rental prices only getting higher, there is no better time than now to purchase…