Although you may have chosen a 30-year mortgage loan, who says you must wait that long to own your home outright? If you are someone who would like to pay off your mortgage early, there are several ways to accomplish your goal. Refinance into a... Continue reading
Not only does paying late and defaulting on your mortgage loan lower your credit score, but it also makes it more difficult for you to refinance or obtain another loan in the future. Even worse, the lender could repossess your home and sell it. While... Continue reading
As new construction continues, employment steadies, and U.S. wages rise, we can expect to see many Americans buying homes in 2019. Whether someone wants to live an active lifestyle downtown or a more relaxed one close to the beach, the Central Florida housing market is... Continue reading
For many people, especially first-time homebuyers, it can be quite challenging to come up with a 20 percent down payment to purchase a home. Luckily, when it comes to Conventional loans, there is a solution: private mortgage insurance, or PMI. When putting down less... Continue reading
As you're going through the process of purchasing a home, you will undoubtedly come across the terms Âmortgage pre-qualification or Âmortgage pre-approval or maybe even both. What does it mean to be pre-qualified or pre-approved, and what's the difference between them? Similarities Between Pre-Qualification... Continue reading
Having multiple jobs is common these days, but lenders have some rules when it comes to income that qualifies to be used for a mortgage. Lenders accept most income sources that people typically have, but how they calculate it, and what documentation they will need... Continue reading
When thinking about buying a home, you should take the time to examine your finances closer than you ever have  because the mortgage underwriter will be looking at them even more closely. It's their job to evaluate your income, credit score, and assets... Continue reading
With your house-hunting efforts finally behind you and your preferred lender found, you can start making your way down the final stretch to home-ownership  settlement day, also referred to as the ÂClosing. At least 3 business days prior to your closing, the title... Continue reading
A healthy credit score is a prized possession to many, but if your score needs some help, it likely won't happen overnight. This is largely because your credit score takes into account information from the past several years, not just your present actions. That... Continue reading
A simple way to explain an escrow account is to think of it like a holding tank for your money. During a real estate transaction, an escrow officer who is typically a lawyer or representative from the title company, holds all important documents and... Continue reading
Put simply, home equity is the part of your home's value that you own outright. When you have a mortgage, you don't own the entire home until the mortgage is completely satisfied. Until then, your mortgage lender has an interest in your home as... Continue reading
Many first time homebuyers have a difficult time coming up with the large down payment necessary for a conventional mortgage, or lack the strong credit history required to secure financing. Luckily, a mortgage insured by the Federal Housing Authority (FHA) is a great alternative,... Continue reading
You're in the process of saving to purchase a home, but when is the best time to buy? According to Trulia, homes in the Âstarter price range see a 7% boost in inventory numbers between October and December each year. Starter homes are defined... Continue reading
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
