Ready to buy a house? Before you shop for a home, consider shopping around for mortgage loans, and getting details and terms from several lenders or mortgage brokers. Your home is likely the largest purchase of your entire life,…
You’ll hear the term closing thrown around when it comes to the last phase of buying a home, but what does it entail for you financially? Closing is when property title officially passes from the seller to you, or it…
Interest rates are changing all the time, even shifting by the hour. Once you find out your offered mortgage rate, you risk it changing from one day to the next. To keep your rate steady between your offer and closing,…
The last few years have seen some rapid changes in the housing market. Many hopeful buyers are still sitting on the sidelines evaluating if now is the time to start looking for their next home. If you’re in this category…
As you go through the process of researching mortgages, the phrase “debt to income ratio (DTI)” will frequently appear as part of what lenders consider when evaluating borrowers. To qualify for the best loan terms, you need to have an…
You’ve decided to begin your home buying journey and you’ve been told the first serious step is becoming pre-qualified or pre-approved by a lender. This process means your lender is going to be taking a serious look at your finances…
A 20% down payment isn’t always possible for homebuyers, especially in markets where housing is more expensive than the national average. Mortgage insurance allows for borrowers to qualify for a loan even when they can’t put down a full 20%.…
There are many perks VA loans offer that are unmatched by other home loan options. However, if you’ve been learning about VA loans from less experienced lenders, you may have heard some misconceptions about the benefits and limitations of these…
While people often use the terms interchangeably, there is a difference as to whether you’re pre-qualified or pre-approved for a mortgage loan. The short answer is: one is more official and means you are further along in the home buying…
Photo credit: by MangoStar_Studio from Getty Images You’ve decided it’s time to purchase a home. It’s an exciting time, but the process requires preparation. When applying for a mortgage, you want to be in the best spot possible to ensure…
