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

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

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

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

If you are buying a home for the first time, there are a lot of things that you need to consider. You not only have to cover your down payment but also need to set aside enough money in your budget for closing costs and other fees. Homebuyers usually spend…continue reading

Despite the COVID-19 pandemic, the real estate market is continuing to heat up due to the low inventory and improved interest rates. Buyers are much less fearful after the initial lockdown and are looking for houses like they did before by wanting a walk through with an agent after looking…continue reading

Tales of shrewd investors who snap a bargain and make huge profits by flipping foreclosed homes is quite widespread. So, it is no surprise that prospective homebuyers who are looking to buy more house than their budget would find buying a foreclosed home quite enticing. However, is it a good…continue reading

The present low-interest-rate environment has led many homeowners to think about something else besides the COVID-19 pandemic. Many are wondering whether they should stick with their current mortgage or refinance. Some others are thinking on the lines of opting for a different payment strategy that can help them pay off…continue reading