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
Planning To Sell Your Home in 2021? Guidelines for Success.
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
5 Common Pitfalls First-Time HomeBuyers Should Avoid During The Loan Process
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
What Are The Conforming Mortgage Loan Limits For 2021 And Why They Matter?
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
Refinance And Loan Modification: Which Is The Best Mortgage Relief Option For You?
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
Purchasing A Home: Should You Invest In Points?
The mortgage process can be stressful at times and baffling due to the heaps of paperwork and unfamiliar terminology. The process is further complicated by the fact that mortgage lenders and banks do things differently. Some lenders charge loan origination fees while others ask you to pay for mortgage points.…continue reading
Refinancing Your Mortgage: Ways To Make The Best Use Of Your Savings
Over recent months many homeowners’ have taken advantage of the record-low interest rates to refinance their mortgage and lower their monthly expenses. If there is no specific plan on how to utilize these savings then it is easy to spend it on needless expenditure. So, if you have refinanced recently…continue reading
Why Do Mortgage Lenders Ask For Your Tax Returns To Approve A Home Loan
One of the largest loans that you receive is a home loan. So, lenders need to evaluate your financial status to ascertain whether your income will cover the mortgage payment and other monthly debts. For this you need to be ready to submit a bunch of documentation which includes your…continue reading
Mortgage Interest Rate vs APR: What First Time Home Buyers Need To Know
When first-time homebuyers are ready to apply for a mortgage they usually check out the interest rates. However, there is another number that goes unnoticed and that is the APR (Annual Percentage Rate). Understanding what these two terms mean and effectively comparing them to evaluate the cost of a mortgage…continue reading
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