Maximizing your home equity The last few years have entirely reshaped the housing market, and for most homeowners, this has resulted in significant accumulated home equity. Home equity is the difference between what you owe on your mortgage and the market value of your home. The average homeowner has more than $274,000 in equity, according …
Tips for buying a home with student loan debt
Tips for buying a home with student loan debt Buying a house with student loan debt can be difficult, but it’s not impossible. Understanding the potential impact of student loan debt on your financial health and ability to qualify for a mortgage is essential. Student loan debt can increase your debt-to-income ratio and potentially affect …
What to watch out for after getting pre-approved for a mortgage
A pre-approval is the first step in the homebuying journey for most people who need financing to purchase a new home. A pre-approval involves a mortgage lender reviewing your income, assets, credit, and debt to determine whether you qualify for a mortgage and how much you can receive. Getting a pre-approval letter gives you the …
What are the most common loan types?
Mortgage Loan Programs 101: What are the most common loan types? When buying a home, finding the right type of mortgage is critical. With so many options available, from 30-year fixed-rate loans to adjustable-rate mortgages (ARMs), Government loans, and other loans for non-traditional borrowers, it’s easy to feel overwhelmed. However, understanding the basics of the …
How MEP’s Instant Equity/Bridge Loan Program helps homebuyers
How MEP’s Instant Equity/Bridge Loan Program helps homebuyers Buying a home can be a nerve-wracking experience due to the lack of inventory in the current market. One of the hurdles many homeowners encounter is the financial barrier, specifically coming up with the funds for a down payment and closing costs on a new property without …
Renovation Loans – making it easier to turn your dream home into a reality
Finding the perfect home in today’s real estate market can be challenging. Housing inventory is low, and when a desirable property hits the market, it is often sold almost immediately and over the asking price. A renovation loan could be the solution you are looking for to create the home of your dreams. Borrowers can …
