One of the biggest financial commitments you will ever make is a home purchase. In fact, this is such a huge commitment that you will probably need to borrow money in order to make it happen. And, because you are borrowing such a large amount of money from the lender, you will be required to fill out a mortgage application. Read More
One of the epic battles in the world of personal finance is that over the best mortgage length. When applying for a mortgage, there two primary fixed rate options: 30 year fixed and 15 year fixed. Read More
Snagging the lowest mortgage rate possible can mean saving thousands of dollars over the life of your loan. For example, if you locked in a 4.0% mortgage interest rate rather than a 5.5% rate for a 30-year, fixed-rate mortgage loan of $200,000, you could save more than $65,000 over 30 years. Read More
When you apply for a mortgage, one of the first things the lender will do is check your credit score. Your credit score is essentially your financial reputation. Lenders use your credit score to gauge how likely you are to repay the loan. Read More
Your realtor may encourage you to get a mortgage pre-approval. But do you really need one? Read More
Your home is likely the biggest purchase you will ever make. In fact, it’s so big that you will probably need a loan to make it happen. A mortgage is a huge commitment in terms of money, and by the time you repay your loan, the interest charges that come with it will make your home purchase even more expensive. Read More
What are Mortgage Points?
When it comes to mortgages, a point is a very simple calculation. It is precisely 1% of the value of the amount mortgaged. Read More
Before a prospective home buyer sets out to find that perfect home, it’s important for them to know how much they can afford and what other financing limitations may be. That’s when obtaining a Mortgage Prequalification is most beneficial. In fact, for many home buyers a Mortgage Prequalification or “PreQual” is the first step into the finance process.