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When you fill in a mortgage application form you will be asked how your property would be used. The three potential classifications of a property are a primary residence, a second home, or an investment property. This might be a minor detail but how you categorize the home will affect…continue reading

Once you get into the home-buying process you will realize that there are many other expenses besides the down payment and closing costs. One such expense which can come as a surprise and you need to plan for is earnest money. Here is an overview of what earnest money deposit…continue reading

When you decide to purchase a home there are multiple things that you need to consider like what type of mortgage you should apply for and how much home you can afford? However, one other important thing that you need to think about is whether you should purchase a home…continue reading

One of the significant social side effects of the coronavirus pandemic is that working from home has become the new normal for millions of Americans. Now that the tax session is underway the WFH (working from home) employees may be wondering if they can claim a nice tax break under…continue reading

Homeowners struggling with the aftermath and turmoil of the COVID-19 pandemic have received welcome news. The Biden Government has asked Federal agencies to extend the foreclosure moratorium and mortgage forbearance relief programs. This will allow more than 2.7 million homeowners who are currently still in forbearance to keep their payments…continue reading

The mortgage process can be overwhelming and stressful at times even for an experienced buyer. For, first-time homebuyers the process can especially be intimidating as they are not sure what to expect. The considerable amount of paperwork required and the fear that they might be denied the loan can make…continue reading

If you are planning to sell your home in 2021, you are in luck. Despite, the COVID-19 pandemic and the economic slowdown, demand for homes is up and mortgage rates are near all-time lows. So, many interested homebuyers are jumping the chance to purchase their dream home. However, you will…continue reading

You have found the perfect home for your family and have been preapproved for the loan. You must be feeling good as your mind is now focused on moving into your new home. But, it is not done until it is done. A preapproval offer from a mortgage lender is…continue reading

The year 2020 had been unusual in almost every way and the most unpredictable was the increased demand in the housing market across the U.S. So, it is not surprising that the Federal Housing Finance Agency (FHFA) has increased the 2021 “conforming” loan limits. Let us take a look at…continue reading

A Survey by the Consumer Finances in 2019 revealed that about 30% of homeowners do not have assets of even a minimum of $14,000 to cover up for any drop in their income. Now with the COVID-19 pandemic and its undeniable impact on finances, many Americans are struggling to be…continue reading