When determining how much to save for a down payment, setting aside as close to 20% of the home’s purchase price as possible is ideal. This allows for less interest…
How to Lower Your Monthly Payment with Discount Points
What are Discount Points? Buying a house is a huge purchase and many buyers look for ways to reduce their costs as much as possible. Mortgage points, also known as…
Evaluating Large Cash Deposits for Mortgage Loans
When applying for a mortgage, mortgage lenders will look at a variety of factors and financial documents, but one of the items that most people don’t think about is large…
FHA vs. Conventional Loans: What’s the Difference?
What Is An FHA Loan? An FHA loan is a home loan backed by the Federal Housing Administration, a government agency created to help home buyers qualify for a mortgage….
The Right of Rescission: What is This?
By law, borrowers refinancing their Conventional mortgage loan receive a mandatory three day period after signing their final loan documents. During this recession period, the borrower can rescind or cancel…
The Loan Closing Process: What to Expect
When it comes to the loan process, there is a lot that happens in a short span of time. Once approved for a loan, it can feel like a whirlwind…
VA Mortgage Loans: How a Military Veteran Can Transfer a Mortgage to Another Veteran
When a military veteran is selling a house, sometimes it makes sense to transfer the current mortgage and payments to the new owner rather than applying for a new loan…
Appraisal Tips And Strategies: How to Maximize the Value of a Property
During a home appraisal, a licensed appraiser conducts a thorough inspection of the property. The appraiser will consider all factors that could affect the property’s value. These factors include: the…
How to Create a Strong Financial Profile
When applying for a mortgage, mortgage lenders will take several factors into consideration when reviewing an application – credit score, debt-to-income ratio, and financial history being the most prominent. Generally…
Mortgage Hack: How to Pay Your Mortgage Off Faster with Biweekly Payments
When financing a house, one of the many decisions a homeowner must make is how to schedule their mortgage payments. By default, payments are due once a month. However, some…
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