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Your mortgage payment is often the largest one to contend with each month, but it’s by far one of the most important bills that can’t be ignored when it comes to budget planning. While you likely planned ahead to know how much home you could realistically afford while also tamping down debt, improving credit scores … Continue reading What Are the Benefits of Paying Extra on My Mortgage?
If you are looking for a new home, you need to know how much money you will have to pay per month. This is incredibly important for figuring out your monthly budget. One of the tools that can help you do exactly that is called a mortgage calculator. A good mortgage calculator will help you … Continue reading Using a Mortgage Calculator to Estimate Your Monthly Payment
If you need to qualify for a home loan with low or moderate income, an FHA loan might be the right option. This is a unique home loan that has been furnished by the Federal Housing Administration. There are a few key points that people should keep in mind when it comes to an FHA … Continue reading What are the Requirements of an FHA Mortgage?
If you’re looking to buy your first home, a bigger home, or refinance the one you currently own, you are in luck. Mortgage rates have been decreasing and are at the lowest point in 3 years. In January 2020, mortgage rates were less than 4%. These lower rates may signal that the time for you … Continue reading Home Ownership in 2020: Mortgage Rates Hit 3-Year Low
When you’ve made the decision to become a homeowner, your first step is to qualify for a loan that fits your budget and financial needs. In many cases, it’s advantageous to seek the assistance of a mortgage company. Here’s a look at what a mortgage company is and how the right loan option can help you secure … Continue reading How a Mortgage Company Can Help You Purchase a Home
You probably know you need good credit to buy a home but may not understand exactly what that means. How good does it need to be? And are there options if your credit is low? Your credit scores drive your ability to get approved for all types of loans, including mortgage loans. People with great … Continue reading How Your Credit Scores Impact Mortgage Rates
When someone takes out a mortgage, one of the biggest factors to consider is the interest rate on the mortgage. The interest rate is the “extra” amount that someone is going to pay the bank in exchange for putting up the rest of the cost after the buyer has paid the down payment. The interest … Continue reading Understanding the Basics of Interest for Your Mortgage
You’ve found a house that seems perfect for you and you’ve applied for a mortgage to buy the home. Then the bad news comes: Your lender has denied your mortgage application. Once you’ve gotten over the sting of rejection, what can you do to get your housing search back on track and improve your chances … Continue reading The Steps to Take After Your Application Is Denied
If you’re a homebuyer looking to purchase in Tennessee, have you checked out the Tennessee Housing Development Agency (THDA)? Created in 1973 by the state’s General Assembly, the THDA provides support and programs to homebuyers, homeowners and renters throughout the state. THDA offers Mortgages With Heart. First Mortgages may be combined with THDA’s second mortgage, … Continue reading What Is the THDA Mortgage With Heart Program?
Generally, first-time homebuyers are defined as borrowers who have not had ownership in real property for 3 years. Saving for a down payment and closing costs is a great accomplishment. However, there’s more work to be done to find the perfect home and secure the best mortgage for your circumstances. Luckily, many loan products are geared … Continue reading Mortgage Programs for First-Time Buyers
The modern home buyer has a number of different options available to them when they are choosing the right type of mortgage to fit their needs. In fact, conventional loans like fixed-rate mortgages have many advantages. And a good mortgage company will work with you to make sure you have everything in place before closing … Continue reading What Are The Advantages and Disadvantages of a Fixed-Rate Mortgage?
Finding your way through the mortgage loan process can seem intimidating and complex. Choosing an experienced, professional loan originator to explain the process and answer your questions is the best move you can make. A little education up front will give you confidence as you navigate through the progression of finding a home to moving … Continue reading 6 Stops On Your Journey Through the Mortgage Loan Process
