If you've been in the market to purchase a home, you've undoubtedly heard terms like Âfixed-rate and Âadjustable-rate, but which is best for you? The low initial cost of an adjustable-rate mortgage, or ARM, is tempting to many homebuyers, but they do carry more... Continue reading
Foreclosure properties can be filled with hidden surprises and problems, putting the buyer at risk of incurring unforeseen costs. However, they are typically cheaper than a standard home listing, which makes them an attractive option for many looking to buy more house than their... Continue reading
Home mortgage refinancing is a great idea for many homeowners, but there are situations in which it is not possible or desirable. In some situations, refinancing may not make financial sense, especially if you plan to sell your home in the next few years.... Continue reading
Purchasing a home requires having enough money on hand for a down payment, a history of on-time payments over the past couple of years, and a steady income; but do you necessarily need a perfect credit history? While a high credit score will often... Continue reading
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
