Congratulations! You’ve decided it is time to buy your very first home! Soon you will have the key in hand, rooms ready to be made cozy, bones ready to settle in. But, you may discover you need to pay thousands for fixes you didn’t know about. You will run out of eggs one morning, and …
Why do lenders need so much paperwork to do a mortgage?
Mortgage lenders are required to follow the guidelines set up by the Federal Government, particularly the CFPB. The new regulations requiring additional paperwork and verification came about in direct response to the housing crash in 2008. Too many borrowers got loans for which they didn’t qualify. Many of them struggled to make their mortgage payments, …
How do I get the best mortgage rate?
The first question most people ask when looking for a home loan is what is the rate? Everyone wants the lowest rate and who can blame them? But, do you know what is involved in setting mortgage interest rates? There are many factors that influence mortgage rates. What causes mortgage rates to change? Bond Market …
Bigger is not always better when it comes to a down payment!
Yes, a bigger down payment usually means more equity in a house from the get-go along with a smaller monthly mortgage payment. But, sometimes a bigger down payment is NOT always better or even necessary. There are programs available that don’t require the traditional 20% down payment and make perfect sense for many buyers. You …
How Do I Start the Home Buying Process?
Are you starting to look for a home? Whether you are a first-time home buyer or someone already familiar with the home buying process, there are a few valuable steps you can take that will make this sometimes-challenging experience a lot more enjoyable and efficient. The key to starting a successful home buying process is …
Five tips to find your dream home!
Late Spring and early Summer are the busiest times in the real estate and mortgage industry. Many people like to wait until school finishes or the weather becomes nicer to plan a move. If you are looking right now, you might be hearing that it is a buyer’s market, but low inventory is still a …
