5 Items that Might Not Be Covered in Your Homeowners Policy

Homeowners Insurance Policy

Insurance is designed to help us protect our assets. One of the biggest assets you are likely to ever have is your home. Buying homeowners insurance is a must. What happens if your home is damaged? Chances are that you couldn’t pay for repairs out of your pocket. Insurance covers those costs, as long as you have paid your premiums. Read More

What to Do if You Can’t Make your Mortgage Payment

Can't Afford Mortgage Payment

No matter how responsible you are financially, sometimes life just happens. You might end up with a medical emergency, or lose your job. When that happens, you might find it difficult to make your mortgage payment. This is a stressful time, and the finances of the situation can make it even more stressful. If you can’t make your mortgage payment, though, it’s important to take action to reduce the chances of losing your home. Read More

How to Take Your New Housing Payment for a Test Drive

Mortgage Payment Test Drive

Looking for a new place? Will it cost a little more than what you’re paying now? Chances are that you need to take your new payment for a test drive, especially if you’re a first time home buyer. Even if you look at your financial situation, and you think that — on paper — you’ll be able to handle a bigger monthly payment, the truth is that the reality of a higher payment is usually more complicated. Read More

How much mortgage can I afford?

How much mortgage can I afford?

Before potential homeowners apply for a mortgage, they may ask themselves the all important variable, “How much home can I afford?” It’s always a good idea to ponder affordability in advance because it means you can look for houses that fall exactly within the your price range. Read More

Conventional Loans – Conventional Conforming Loan Programs

Conventional loans have been considered the garden variety mortgage program for over 80 years. The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. Today’s conventional loans may be either “conforming” or “non-conforming”, although ‘conforming loan’ programs are often loosely referred to as ‘conventional loans’. Conventional conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.

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