Are you thinking of buying a home? If so, you probably want to get pre-qualified for a mortgage. Don’t make the mistake of thinking that it’s the same as a pre-approval. The pre-qualification is the first and most basic step in the process. Looking for Current Mortgage Interest Rates? Click Here. The good news is […]
When do You Have to Pay Private Mortgage Insurance?
Private Mortgage Insurance, or PMI, is something that you pay when you take out conventional financing. If you put down less than 20% on the purchase of a home, the lender will charge you the insurance. Looking for Current Mortgage Interest Rates? Click Here. PMI doesn’t cover anything for you, even though you pay for […]
What is the Right Age to Buy a Home?
It almost feels like a rite of passage of adulthood to buy a home, right? But what age is right to buy one? Should it be soon after entering adulthood or does it pay to wait a while? Looking for Current Mortgage Interest Rates? Click Here. The answer is that it depends. No two people […]
Understanding the VA Loan Max Entitlement
After you serve in the military, you earn what the VA calls entitlement. Basically it’s money the VA is willing to guarantee in your name so that you don’t have to make a down payment on a home. In other words, it makes it easier for you to become a homeowner. Compare Offers from Several […]
Understanding Manual Underwriting
If you don’t fall under the normal umbrella that lenders require, you may need what they call ‘manual underwriting.’ While it’s not a bad thing necessarily, it can take a little more time to get your loan through the process. Looking for Current Mortgage Interest Rates? Click Here. Automated Underwriting – What is It? If […]
The Top Ways to Build Home Equity Fast
When you take out a mortgage it can feel like it will take forever to build equity in your home, especially if you take out a 100% mortgage. The good news is that it doesn’t have to take forever. There are some simple ways that you can build that equity faster. Looking for Current Mortgage […]
The Steps to Refinance a Seller-Financed Mortgage
If you obtained seller-financing when you bought your home, it was likely temporary financing. At some point shortly after taking the loan, the seller will be looking for full repayment of the loan. Because they don’t expect you to have the funds in hand, they know you’ll try to refinance the mortgage to pay them […]
Steps to Buying a House for the First Time
Buying a home for the first time is exciting and overwhelming at the same time. You have so many decisions to make that involve more than just picking the right home. You have to make decisions regarding how you will finance the home, the type of mortgage you will take, and how much money you’ll […]
Should you Use the Same Lender for Your VA Streamline Refinance?
If you want to lower your interest rate or change your VA loan’s terms, you may use the VA streamline refinance program. This program makes it easy to refinance with very few requirements or even costs. But, do you have to stick with your same lender or can you change? Looking for Current Mortgage Interest […]
How to Tell Which Mortgage is Right For You
Choosing the right mortgage for you is almost as hard as choosing the right house. A mortgage is something you could have for the next 30 years – it’s not a decision to take lightly. Looking for Current Mortgage Interest Rates? Click Here. So how do you know which one is right for you? We […]