6 Key Facts You Should Know About Your Mortgage
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
5 Items that Might Not Be Covered in Your Homeowners 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
5 Things You Need Before Your Home Loan Closes
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
Tips for Shopping Around for the Best Mortgage Rate
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
How to Take Your New Housing Payment for a 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?
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.
3 Homeownership Goals for the New Year
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
Should You Downsize?
Recently, my family moved across the country. We moved from a house to an apartment. Our home was rather modest to begin with, so the move to the apartment represents downsizing by about 250 square feet. Read More
Tips for Buying a Distressed Property
Even though the real estate market seems to be picking up, there are some good deals to be had. Indeed, there are still some distressed properties on the market, and that can allow you to pick up a home for much less. Read More
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