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The homeowner’s journey can feel overwhelming, especially if it is your first time purchasing a home. Once you buy your house, you’ll make monthly mortgage payments. You might see terms on your statement you don’t understand. Never fear, we explain them all below so there won’t be any surprises. What’s Included In a Monthly Mortgage … Continue reading Understanding Your Home Loan Payments
Deciding whether you want to venture into homeownership or keep renting can be a difficult decision. Each situation offers its own benefits and drawbacks. Which option is best for you? Answer these nine questions to determine if you should rent or own. How Steady Is Your Job? If you’re settled into a good job that … Continue reading Renting vs. Owning: Which Is Best for You?
Homebuyers need to cover several types of expenses during their purchasing journey. One of those are the closing costs associated with securing the loan. Sometimes these costs make buyers think twice before moving forward with their plan. If you’re getting a United States Department of Agriculture (USDA) home loan, the requirements may be different from … Continue reading USDA Loan Closing Costs: Can They be Rolled into Your Loan?
If you’re planning on buying a house, you need to make sure you understand every part of the mortgage loan process in advance. Your loan officer is the person you can trust to give you accurate, thorough information about all aspects of your mortgage loan. Not sure what to ask? Here are 15 questions you … Continue reading 15 Smart Questions to Ask When Choosing A Mortgage Lender
When you’re buying a house, your interest rate is an important component. It affects how big your monthly payment will be every month, and may even influence whether you can afford a home in the price range you want. This is especially true when interest rates are volatile, as they are in today’s market. This … Continue reading What Is a Rate Lock Program and How Does It Work?
If you’re planning on buying a house, getting pre-approved for a mortgage is one of the first things to do. A pre-approval proves to the seller you can afford the house. It also shows you’re serious and may give you an advantage during negotiations. Getting pre-approved for a mortgage isn’t difficult, but the loan officer … Continue reading Applying for a Mortgage? You’ll Need These Documents For Pre-Approval
The mortgage business offers big money, and there are some unsavory characters who try making a quick buck by scamming people. Homeowners who have fallen on hard times and are behind with their mortgage payments need to be especially careful. Attempting to find a way to stay out of foreclosure can lead some folks straight … Continue reading Learn to Dodge Mortgage Modification Scams with These Tips
If you’re buying a house, you’ll soon see that mortgage interest rates have a big effect on your monthly payment. The higher your interest rate, the higher your payment. Even a half-percent higher interest rate can equate to spending hundreds of dollars more on your house payment every year. It helps your current budget and … Continue reading Homebuyers Want to Know: How Are Mortgage Rates Determined?
You may have heard the term “buy down points” when discussing a mortgage loan. This refers to an important option homebuyers can use to lower their mortgage interest rate and save thousands of dollars over the life of the mortgage. Read on to learn more. What Are Mortgage Points? When a borrower decides to get … Continue reading What Are Mortgage Points and Why Do They Matter?
If you’re trying to buy a house, applying for a mortgage is probably on your “to-do” list. Once you’re approved, don’t assume you’re free and clear. There are things that can derail your loan and cause you to lose the house. Here are five things you should avoid doing after you apply for a mortgage. … Continue reading Applying for a Mortgage? Here Are 5 Things to Avoid After You Do It
Do you dream of owning your own place? If you’re a hopeful homeowner who’s thinking about starting your buying journey, being prepared for the mortgage process is key. By understanding what to expect, you can avoid nasty pitfalls and delays that could knock you off course to your new home. Here’s a timeline of the … Continue reading Found Your Dream Home? Here’s a Timeline of the Mortgage Process
Buying a house is a big part of the American dream. Mortgages are a necessary means to that end for most hopeful homeowners. When did mortgages come to be? And how have they changed over time? Let’s dive into the history of home mortgages to help you understand why certain lending criteria have been put … Continue reading The American Dream: Looking at the History of Home Mortgages
