Going over your mortgage can sometimes feel like reading a foreign language. Indeed, the industry is full of acronyms and terms which may not be easy to understand the first time around. Below are some of the most common terminologies you’ll hear in relation to your mortgage. Common Mortgage Terms Turn to Butler Mortgage for … Continue reading Definitive Guide to Mortgage Terminology?
Fannie Mae and Freddie Mac are operations sponsored by Congress that are crucial to the mortgage industry. These private-owned corporations buy mortgages from lenders and sell to investors. This helps provide stability, liquidity and affordability to the market. Essentially, they set the standard for home loans in the United States. Here is more information about … Continue reading What Is Fannie Mae and Freddie Mac?
There are several projects homeowners can take on to increase both their property’s value and enjoyment. Here are a few modifications you can make to improve your home’s resale value. Add New Appliances Technology is constantly evolving. Many homeowners now use smart devices for both convenience and increased security. Some examples of smart devices for … Continue reading How to Improve Home Resale Value?
Tax deductions can help by lowering the amount of taxable income you have to pay on. If you’re a homeowner with a mortgage, a mortgage interest deduction could similarly benefit you. Here are some ways to navigate mortgage tax deductions when filing your tax return. The information contained below should not be construed as tax … Continue reading Mortgage Tax Deductions for Homeowners
Closing on your home is an exciting time that is the culmination and celebration of months of hard work. However, home ownership doesn’t end at the closing table. Here are a few things for homeowners to expect in their first year post-closing. What to Expect on Closing Day On the day of closing, your loan … Continue reading What Homeowners Can Expect AFTER Closing
Even if you’re a financially savvy individual, life can always throw you a serious curveball. Layoffs, unexpected illnesses, losing a loved one: there are any number of life events that can lead to financial uncertainty. If such unfortunate circumstances have befallen your household, then it can be difficult for you to cover all of your … Continue reading What You Need to Know About Mortgage Default
Millions of Americans are eligible for home financing with a VA home loan. If you’ve served, or are currently serving, in the U.S. Army, Navy, Marine Corps, Air Force or Coast Guard, your nation thanks you by offering a myriad of veterans’ benefits, one of which is a VA loan which provides access to government-sponsored … Continue reading Guide to VA Loans
The home buying process can certainly be a long and involved journey. There are many moving parts and boxes to check. In a sense, it’s almost like buying a car. There is shopping around to do, loan rates to secure, and value to assess. If you’re in the market to buy or refinance a home, … Continue reading What Is a Home Appraisal?
Currently, it’s a seller’s market, so many houses are selling at prices that are significantly above market value. This can be quite advantageous for current homeowners looking to sell or refinance their home. Refinancing, in particular, is a great option to take as it can result in lowered monthly mortgage payments, shortened home loan durations, … Continue reading How Soon After Purchasing My Home Can I Refinance?
Buying a home is as exciting as it is stressful, especially for first-time home buyers. However, getting your ducks in a row credit-wise can be tough and could delay the mortgage approval process. Fortunately, if you’re making the switch from renting a home to buying one, recent updates to Fannie Mae’s underwriting guidelines could work … Continue reading How to Qualify for Rent Payment Consideration
