After you've found a home you like, made your offer, and have been pre-approved for a mortgage, you might think the job is almost done. However, there is  still one important hurdle to clear, and that is getting a final approval from an underwriter.... Continue reading
Adjustable vs. Fixed-Rate Mortgages Whether you're a first-time or experienced homeowner, it's important to review mortgage options. To make you a more informed homebuyer, here is an explanation of fixed-rate and adjustable rate mortgages (ARM). Fixed-Rate Mortgage Pros and Cons A fixed-rate mortgage is... Continue reading
When you're in the market for your home, you undoubtedly have questions, concerns, and no shortage of emotions. It's no secret that purchasing a home is one of the largest financial decisions you'll make, and of course, you don't want to make a mistake.... Continue reading
An LTV, or loan-to-value ratio is a way of comparing the size of a home loan to the value of the property securing that loan. Many lenders use an LTV ratio to determine how risky a loan is, and it is often used in... Continue reading
Millions of people in the US are eligible for home financing with a VA home loan, and even though many veterans may have already used their VA loan benefits, it is possible to purchase a home again with VA financing by either using the... Continue reading
Mortgage loan giant Fannie Mae has announced that it intends to raise the acceptable debt-to-income ratio for acquiring a home loan. This comes as huge news for aspiring homeowners, as debt-to-income ratio is the number one reason for mortgage application rejection, according to Kenneth... Continue reading
The best thing someone can do for their future is to prepare for it now, and this holds especially true for the aspiring homeowner who needs to lay the foundation for buying the home of their dreams. Something that many first-time home buyers fail... Continue reading
With the housing market steadily on the rise, millennials are beginning to get their hands on more and more houses. A report by Zillow shows that 50% of home buyers are under the age of 36 which is great for the real estate industry,... Continue reading
If you're in possession of a homeowner's insurance policy, chances are that it does not have a provision protecting you in the event of a flood. In fact, this is a common misconception among homeowners. A survey conducted in 2013 found that 44% of... Continue reading
The end is in sight. When you finally hear the words Âclear to close from your loan officer, a wave of relief often rushes over you. The statement Âclear to close refers to the underwriter approving all your documentation necessary for the closing department... Continue reading
Home ownership is a wonderful thing. It comes with benefits that you won't find anywhere else, including building equity and affording your family the ability to settle down in one particular area. On top of that, there are numerous home ownership benefits to be... Continue reading
Securing a home loan can be stressful. Being successful in obtaining a loan depends on things like your credit, work history, and available assets, among other factors. The Federal Housing Administration created the FHA loan in 1934 to help increase homeownership and insure mortgage... Continue reading
A loan can be very helpful when you are ready to purchase a home, but you should understand what you are getting yourself into prior to signing. When applying for a loan, you want the best deal possible so here are some important questions... Continue reading
If you are on the fence about applying for your first mortgage, it is completely understandable. A mortgage is a big commitment and must be thought through effectively. As a first-time home buyer, there are many ways that you can benefit from your first... Continue reading
If you would like to buy a house, but you don't have a perfect credit rating or you have a limited amount of funds for a down payment, an FHA loan might just be the right choice for you. What is an FHA home... Continue reading
