Mortgage


Plan Ahead To Get Approved For A Mortgage Loan

Even if a home purchase isn’t in your immediate future, it pays to start thinking about what it takes to get approved for a mortgage. If you know you’d like to become a homeowner in the future, the following tips will help you avoid bumps in the road when you’re ready to take the plunge: Limit credit card debt In this day and age, ... More

Meet With Multiple Mortgage Lenders Before Deciding On A Loan

Navigating the process of buying a home can be confusing, especially for first-time buyers. That’s why so many consumers go straight to a familiar lender, like their local bank, for a mortgage loan. Although that can simplify the process, it will rarely yield the best loan option. For optimal results, consumers should go “mortgage ... More

Everything You Need To Know About Mortgage Prequalification

Too many prospective buyers fall into the trap of forgetting to consider extra costs – like property taxes and homeowners insurance – when looking to purchase a home. For this reason, it’s a worthwhile effort to invest time in getting a mortgage prequalification from a reputable lender. A mortgage prequalification isn’t the same ... More

Two Reasons To Refinance Today

Refinancing a mortgage loan can be quite an undertaking, as the process is very similar to purchasing a new home. For this reason and others, many homeowners are hesitant. However, there are times when a re-fi is the best financial move you can make, including the following two common scenarios: You’re stuck with undesirable loan terms. ... More

Understanding ‘PMI’

When you’re planning to purchase a home, there are plenty of fees and monthly payments to put a dent in your budget. One common fee is Private Mortgage Insurance, commonly called PMI, and it catches many buyers unawares. If you’re a buyer taking out a conventional mortgage loan and making a down payment of less than 20 percent of your ... More

Don’t Settle For the First Mortgage Loan You’re Offered

Navigating the process of buying a home can be confusing, especially for first-time buyers. That’s why so many consumers go straight to a familiar lender, like their local bank, for a mortgage loan. Although that can simplify the process, it will rarely yield the best loan option. For optimal results, consumers should go “mortgage ... More

These Mortgage Loans May Not Be In Your Best Interest

With so many home loan instruments available to prospective buyers, it can be daunting to navigate the advantages and disadvantages of each. While every buyer’s situation is unique, it’s important to know that some types of loans are inherently riskier than others. For the majority of homeowners, it is usually best to avoid the following ... More

Short Sales 101

If you’ve ever browsed through home listings, you’re likely to have stumbled across “short sale” properties from time to time. In layman’s terms, a short sale happens when a seller’s debt on a home surpasses the property’s market value. In such cases, a seller may choose to avoid foreclosure by selling their home as a short ... More

What Your Existing Debt Signals To Mortgage Lenders

If you’re like most Americans, you’ll carry debt at some point in your life, whether it be student loan debt to a financed automobile. While all debt affects your all-important debt-to-income ratio – that is, your monthly debt payments divided by your gross monthly income – different types of debt mean different things to mortgage ... More

Is a Jumbo Mortgage Right For You?

If you’re like most prospective home buyers, you’ll likely apply for a common mortgage loan called a conforming loan. Though the Federal Housing Finance Agency establishes limits on conforming loans, borrowers may still exceed conforming loan amounts in particular cases. When this occurs, the mortgage instrument is called a jumbo mortga... More