Certain factors can reduce your home’s value. A home in poor condition, low sales prices in the area, or high crime rates are just a few reasons that homeowners often see lower home values. Some things that decrease a home’s value have nothing to do with the property itself. These factors are called external obsolescence […]
Is There a FHA Construction-to-Permanent Loan?
If you are building your own home, you have to come up with the financing for it. Unlike when you buy a home from a builder in a subdivision, you are in charge of paying for everything up front. When you buy from a builder, the builder fronts the costs, minus any earnest money they […]
How to Finance a Swimming Pool
The cost of a swimming pool may shock you. Depending on the size and features, you may be looking at a $20,000 or higher price tag. Chances are that you don’t have that kind of money just lying around waiting to be spent. So how do you finance your dream of adding a pool to […]
Five Tips for Selecting the Right Home Builder
If you plan to build your own home, you have many choices to make. Not only do you have to design the home the way you want it, but you also have to choose the right home builder. These two issues go hand-in-hand as you figure out what will work for you. Looking for Current […]
What are the Differences Between an Appraisal and Home Inspection?
Buying a home requires the assistance of many professionals. Your realtor helps you find and choose a home, but once you do that, you need the assistance of many others including the inspector and appraiser. Both professionals provide a written report regarding the condition of the home, but in different ways. Compare Offers from Several […]
Understanding Manual Underwriting
If there’s anything ‘unique’ about your mortgage application, you may hear the term ‘manual underwriting.’ Lenders reserve this technique for borrowers that show potential but don’t pass the automated underwriting programs that breeze borrowers through the process. Get Matched with a Lender, Click Here. Manual underwriting is like a second chance at approval. If the […]
Tax Returns and Their Role in Mortgage Applications
After you complete a mortgage application, you must provide the lender with proof of your income. Generally, this means the pay stubs for the last 30 days and your last 2 years’ of W-2s. Sometimes, however, it means your tax returns. Looking for Current Mortgage Interest Rates? Click Here. Who has to supply tax returns […]
Is Anyone Exempt From the VA Funding Fee?
Veterans have the advantage of flexible financing options. You can buy a home with no down payment, less than perfect credit, and high debt-to-income ratios. The VA offers this flexible program for veterans that served our country in the regular military, Reserves or National Guard. Looking for Current Mortgage Interest Rates? Click Here. Every time […]
How to Prepare for a Mortgage Closing
You made it through the underwriting process and are heading to the closing – congratulations! While you’ve endured one hurdle, there are a few more you’ll face as you get to the closing table. Looking for Current Mortgage Interest Rates? Click Here. In this guide, we help you understand how to best prepare for the […]