If you are a first-time home buyer, there is a lot to learn about buying a home. The most misunderstood part about home buying is — home financing. We are going to help shed some light on this topic. We are going to go over the top first-time home buyer loan options. You will learn… Continue Reading
Alright, you have selected the house you want to buy, found a mortgage lender to meet your financing needs and they have presented you with a rate quote that looks pretty enticing. You love the offer, and your dream of homeownership is coming to close but there’s just one thing. You notice an extra charge… Continue Reading
Think you may have missed the opportunity to refinance your home mortgage? Think again! You may still benefit from refinancing even though rates have recently gone up. While conventional loans make up the large majority of home mortgages, there are millions of borrowers who have other types of loans. Those loans are usually taken out… Continue Reading
A credit score is arguably the single most important factor for lenders when determining whether you qualify for a mortgage or not. Not only that, but your credit score will also determine what type of loan you can get when finding financing for your next home purchase. The score is important to lenders because it… Continue Reading
When buying a house, it is critical that every borrower research each loan program to know the ins-and-outs of each type of financing. Knowing what loan is best suited for you and your family will depend on your individual financial situation. Perhaps nothing is more important than trying to determine how much cash you will… Continue Reading
You’ve cleaned up your credit, put some savings in the bank, paid down some debts and you’re finally nearing one of your lifelong goals of homeownership. All that hard work is about to pay off into one of the ultimate American dreams. There’s only one problem – what loan program do you choose? In today’s… Continue Reading
If you are about to close on a loan, whether you’re buying a home or refinancing a loan you already have, you will probably have an escrow account established at closing. This account is where your monthly payments of taxes and insurance will be deposited so that when taxes and insurance are due, your servicer… Continue Reading
Have you been affected by COVID-19? Not physically – financially. Did you lose your job? Did your company cut back on your hours? Are you a homeowner and you’re finding it increasingly difficult to pay your bills on time? Then you might need a forbearance. What is a forbearance? On March 27, 2020, President Trump made… Continue Reading
Approximately 34% of US households do not currently own a home. According to the National Multifamily Housing Council, there are over 43 million households in the United States occupied by renters. There are a number of reasons of course for not owning a home. However, one of the biggest perceived obstacles to homeownership is: Lack… Continue Reading
Are you buying a house and putting down less than 20%? Are you refinancing but have less than 20% equity? Whether you’re buying or refinancing, are you getting a conventional loan? Then you will need PMI. What is PMI? PMI stands for Private Mortgage Insurance. It protects the lender from losing financially if you default… Continue Reading