You’ve been saving for a down payment and preparing for the financial responsibility of homeownership for a while. So at this point, you probably think you have all of your bases covered. Read More
The home loan process is one of the most involved and complicated processes out there. And it’s no surprise: Buying a home is a major financial commitment, and a lender puts up the money and takes on the risk. Read More
When you are buying a home and getting a mortgage for the first time, the entire process can be overwhelming. And your checklist for must-haves and must-dos is often very long. Read More
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
It’s easy to breathe a sigh of relief once your home loan is approved and you have a closing date set. However, just because your loan is in the works doesn’t mean that it’s a done deal. In fact, while you wait around for your loan to close, there are a few more things you need to make sure are done. Read More
One of the best ways to save money on your mortgage is to get the best possible interest rate. A good mortgage rate can provide you with saves amounting to tens of thousands of dollars over the life of your home loan. Read More
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
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
The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. As a result, conventional loans have long been considered the ‘garden variety’ of mortgage programs. Conventional loans can be either “conforming” or “non-conforming”. 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.
Even though we’re well into a new year, it’s not too late to think about your situation and set new financial goals for the coming year. If you own a home, there are quite a few things you might consider doing to improve your situation. Read More
