Rate locks can freeze an interest rate on a mortgage for a specified period of time, typically for 30, 45 or 60 days (but can vary), and can strategically be used to benefit the home buyer. But how exactly do they work? Let us help demystify just how rate locks work.
When you first get interest rate quotes over the phone, email or even see rates listed on a company’s website, it’s extremely important to understand those rates aren’t available to you. That[...]
There’s no doubt buying your first home can be a little intimidating. It’s certainly a big commitment and even though you’ve read rent vs. buy articles convincing you buying is better, it’s still no small decision. And that’s okay! All homeowners can remember when they bought their very first home. Suddenly there were new terms bandied about, multiple parties involved, tax returns, paycheck stubs…it can be a bit overwhelming. But knowing in[...]
It can be a whirlwind 30 days from the moment the sellers accepted your offer and signed the sales contract to the final settlement. Once the contract is executed by both parties, it all begins. You’ve already provided your lender with your paperwork needed to get your preapproval letter, so now it’s time for various third parties to get involved. Most of these third parties you’ll never interact with. The only connection will be to pay for your share of closing costs at[...]
Real estate investors today are expanding their portfolios to include investment real estate. Residential real estate is the only investment asset class that both appreciates in value while simultaneously providing monthly cash flow. As property values increase so too do rental rates. If you’re been seriously considering buying a rental property, there are three things you can expect.
Investment real estate is[...]
The mortgage process can feel like a whirlwind of confusing new terms, costs for items you haven’t heard of before and daily documentation requests from your lender. One of the terms that may come up during your lending process is PMI (private mortgage insurance) or MI (mortgage insurance). This is important to learn as it can be the difference between a few hundred dollars monthly.
Mortgage insurance was[...]
Getting a mortgage can feel like a daunting task. You may not know where to start, who to talk with or if it is possible at all. The first step of the mortgage process is getting pre-qualified. When getting pre-qualified by a lender, you will sit down and evaluate your current financial situation. You will go over your current financial situation, look at the different types of loans available to you, and can ask any questions you have about the process.
However, not every[...]
Buying a home is both an exciting time and a rewarding experience. Whether you want to fire your landlord, grow your family or build your financial independence, a home is the way to get it done. Before you get started, it’s important to understand where your payment is going every month.
Your monthly mortgage payment can seem like one lump sum but it is actually comprised of a few moving parts. These moving parts are known as PITI (principal, interest, taxes, and[...]
The New Year is here and so is the time where people start thinking about their resolutions. Whether it’s to save money, lose weight or spend less time on social media, the New Year gives us an opportunity to start fresh on a new set of goals.
If you’ve been looking at getting a mortgage, you know your credit score is an important factor to get qualified. However, what you may not know is that mortgage lenders look at your entire financial profile.
As a homeowner, winter can be an expensive and bone-chilling experience. Whether your home is newer or older, the snow, ice, and rain that winter brings will take a toll on your home. That is why we prepared a winter-proofing your home checklist. These items will help you keep warm, save money and eliminate any worry about the elements.
Anyone that has bought a home knows that searching for your dream home can feel tiresome and[...]
Deciding whether you want to own or buy isn’t as simple as it seems. At Summit, we believe that everyone deserves to be a homeowner, but the reality is that it isn’t for everyone (at least right now). Depending on what stage you are at in life and what your dreams are, it will determine if you should rent or own. Below is a quick checklist to help you decide which one is right for[...]
You know you want a mortgage, but how do you get started? When looking into financing for your home, you will come across two main types of mortgage providers, mortgage lenders, and mortgage brokers. They may have a similar process but there are some key items to consider when deciding. Here is a quick guide to help you determine which one will work best for you.
A mortgage lender will lend you the money for[...]
After helping thousands of families get into their homes, we’ve got the process figured out. Here is a list of common do’s and don’ts that will help make sure your loan avoids delays, processes as smooth as possible and gets you into your dream home.
Buying a home is one of the most important financial decisions you will ever make. Not only is it the most expensive, but it is highly likely you will need to apply for a loan that will take the next 15 to 30 years to pay off.
One of the most important factors when you are looking for a home loan, is the interest rate the loan will have. It is important to note, not all interest rates are created equal. Often times, your interest rate is determined based on your[...]
Styling your new home is one of the most exciting parts of buying a home. Whether you want to paint the walls, update your appliances or buy new furniture, you now have the freedom to make it your own. Most homeowners usually start with furnishing the home.
Whether you need to move it or you’re starting from scratch, furnishing your home is a big endeavor. Use the below checklist as a brief guide to help you furnish your new[...]
For many borrowers, debt can be a scary word. Whether you have racked up high credit card bills, dealt with collection agencies or even had a large loan looming over your head, the mention of debt can make you want to run for the hills. Yet, unless you have a large amount of cash on hand, it is necessary to use when purchasing a home. When it comes to a mortgage, educating yourself about debt will help you make an informed decision. Below is a quick guide to help you understand[...]
If you lack the funds for a down payment on a home, there are various options available. You could pick a loan program without a down payment requirement, use a down payment assistance program or use gift funds.
Gift funds can help relieve some of the stress of buying your home. But, using gift funds isn’t as simple as cashing in all the birthday cards your nana has given you over the years. Using gift funds to supplement some of your down payment comes with some[...]
There are a few different types of property to pick from when you are going through the home buying process. When deciding what property type your family will purchase, you will want to consider many different factors. The type of property you pick can:
Practicing social distancing can be tough, especially with small children. While we are all safe at home, it is more important than ever to find new ways to keep your family entertained. Below are some ideas to help keep you and the family busy during these tough times.
Board games are a great way to pass the time and bring out your family’s competitive side. If you have younger kids, card games like Uno are a[...]
COVID-19 has left many Americans struggling. Whether you have had your hours cut, lost your job, or are having cash flow issues with your business, it can be a tough time to pay your mortgage.
Due to a recent bill that allows borrowers with a federally backed mortgage loan the ability to request loan forbearance, many homeowners are considering this as an option. Yet, before you request forbearance, it is important to understand exactly how it works and what it costs you.[...]
Moving can be one of the most stressful parts of buying a home. Whether it’s down the street or across the country, it’s important to be prepared. We created a quick guide to make sure you get your move done right.
Building to-do lists can help with some of the anxiety around moving. Using apps like Asana or Trello (which have free versions available) will ensure you[...]
As a homeowner, you might hear the term “refinance” thrown around often. Depending on your financial situation, the current mortgage market, and your future goals, refinancing might make sense.
A mortgage refinance is when you replace your old mortgage loan with a new one. Your new mortgage will pay off the remaining debt and put you in a new mortgage with different terms. There are many different reasons[...]
Looking to buy a home but not sure where to start? You have browsed some online sites, looked at some agents, or maybe even spoken with a lender. It can be intimidating searching for a home, but when you have the right team to help you, you can find your dream home in no time.
This is perhaps the most important step to get started. Getting a pre-qualification/pre-approval issued will help[...]
After months of improving your credit, saving up a down payment, and finding your dream home, you have finally made it to the closing table. As a new homeowner, your financial responsibilities are not over. After closing, there may be some hidden expenses you did not think about. Below is a list of items to keep in mind after you buy your first home.
The biggest monthly expense as a[...]
When house hunting, you will come across properties located inside of an HOA community. HOA (Homeowner’s Association) communities were created to help develop a clean, friendly, and cooperative neighborhood.
Depending on the HOA’s rules, it can help ease some of the responsibilities that come with owning a home. Yet, this will come at a cost. HOA communities are notorious for their expenses and specific rules.
Below are a few of the positives and[...]
Finding the perfect home is not always easy and as a parent, it can be even harder. While you may be able to renovate the kitchen or refresh the paint, you cannot pick and choose your school zone. As a parent, you want to find a home in an area that is safe, fun, and zoned for the school of your dreams.
While you are out there looking for your dream home, keep the following items in mind.
Finding a[...]
Buying your first home can be nerve-wracking if you don’t have the right team to guide you through the process. After helpings thousands of families buy their home, we have come up with a list of the 5 most common home buyer mistakes and how to avoid them.
Shopping for a home before you are pre-approved with a lender is a recipe for disaster. Spending an hour with an[...]
Owning a home comes with a new set of responsibilities. One of which is to maintain your home throughout the different seasons. With summer here, now is the time to get started on these items before we hit the peak of fiery summer temperatures. Below we have included our summer home care checklist to help you get started.
It's time to get your grill ready for a great summer. Pick up a heavy-duty grill brush and sponge to[...]
Summer is here and that means that your kids are repeating the same phrase you hear every year… “I’m bored!” This year you can cure boredom with our list of fun summer activities for homeowners!
Turn your backyard into a fun-filled camping ground. Grab your tent and sleeping bags and spend the night outside with your kids. This can also be a great introduction for smaller kids before you start[...]
Families purchase homes for a variety of reasons. They could need a bigger space, build wealth, want to paint their walls and customize a home, or take control of their monthly expenses. Below are 6 benefits of owning a home.
Homeowners can deduct the interest on their mortgage expenses from income taxes. This needs to be done using an itemized deduction and is for up to $750,000 worth of mortgage[...]
When prospective buyers tour a home, they are looking to see if their family could feel comfortable and build a lifetime of memories. Staging helps them get an idea of what living there would be like and help sell your home.
The right staging is key to getting your home off the market as quickly as possible and for the best price. That is why we created a small guide to help you hit what we call “The 5 Senses of Home[...]
Renovations are one of the most searched terms online by homeowners, but did you know that there are more reasons to renovate your home, than being tired of the way your kitchen looks? Below are 5 reasons your family may want to renovate your home.
Improve Your Home’s Value
Renovating your kitchen or bathroom is a surefire way to boost the value of a home. When an appraisal is performed on your home, the appraiser looks at more than the area and[...]
Owning your first home is one of the most exciting things that will ever happen in your life. You get to kick your landlord to the curb and build memories in your dream home. While you have much more freedom in what you do with your home, you are now on the hook for all the repairs and maintenance.
Many of the projects will need to be completed by qualified contractors (such as plumbers, and electricians) there will be many tasks you will want to (and can) do on your own. We[...]
When selling your home, one of the first things you will do is look at what real estate agent will represent you. This can be a scary process as you are trusting this agent with selling your most asset. Often sellers consider selling their home as an FSBO and cutting the agent out directly.
What is FSBO?
FSBO or For Sale by Owner is where you would decide against using a real estate agent and sell your home yourself. This means that listing your home,[...]
A growing family is one of the most common reasons families decide to buy their first home. This is an exciting and somewhat stressful time for expectant parents. You will need to take a look at your new home and see what changes needed to be made to make it safer for your expanding family.
Doors and Cabinets
As your babies start to explore, they will notice doors and cabinets. Doors and hinges provide a pinching hazard for little fingers and[...]
“How good does my credit score need to be to apply for a mortgage?”
We get that question almost every day and the answer is that, it depends. Credit affects your eligibility for a mortgage in many ways and will depend on your current financial situation. While the best plan of action is to meet with a home loan expert, below we put together a short list to help you get your credit “Mortgage Ready”.
Balances
Keeping[...]
Selling your home can be a lengthy process and an inspection can be one of the scariest parts. Below we have prepared a short list to help homeowners prepare for an easy and stress-free home inspection.
Reduce Clutter
Try to reduce clutter in your home (especially in the areas the inspector is likely to use the most). This helps make their job easier and they will spend less time in your home. Often the buyers will accompany the[...]
One of the biggest obstacles for potential homeowners is saving for a down payment. That is why we put together a list of the 6 best ways to save for a down payment on your home.
1. Fixed Automatic Transfers
Using a fixed automatic transfer from your checking account to savings account is the perfect way to save for a down payment on autopilot. This solution is great for those that have extra money each month but tend to spend it before they have[...]
We are living in one of the most stressful and rapidly changing times in history. While some of us are ready to go back to normal, many of us are worried about exposing ourselves to Coronavirus and prefer to stay at home. We have ensured we are ready to help you through the loan process with the same attention and detail we normally do whether we are at home or the office. Here’s how:
Applications
Summit allows you to do your application[...]
When selecting the right loan product for your family, you will need to choose what type of loan you want. Depending on the product, you will often get a choice between a fixed-rate mortgage and an adjustable-rate mortgage. If you are looking for less risk, (which is most families), you will opt for a fixed-rate mortgage.
Depending on the lender and the loan product, you will have two choices of fixed-rate mortgages, a 15 year and a 30 year. What you choose will depend on[...]
During the home loan process, you may hear the term 2/1 buydown thrown around, but what exactly does this mean? This quick article will help you understand what a 2/1 buydown is and how you could benefit from one when purchasing your home.
A 2/1 buydown loan is where you can temporarily reduce your interest rate over 2-3 years to help you ease into homeownership. Often, a new mortgage payment can be much larger[...]
ARM loans are something you may have heard a lot about right after the 2008 mortgage crisis. Although they have a bad reputation, they can be a smart mortgage strategy for the right borrower. ARM loans are known for their complex interest rate adjustments but have come a long way since 2008. Lending guidelines have become much stricter and ARM loans are reserved for those who truly benefit from them and not as a tool to buy homes out of their price range.
This article will[...]
When you’re considering a mortgage with lender credits or discount points, it helps to determine how long it will take to break even. Simply stated, you break even when the savings from one of these loan features even out with its cost. You can ask your lender to share this information with you. But it’s also pretty easy to find a mortgage calculator online and run the numbers yourself, particularly for fixed-rate loans.[...]
As if securing a down payment and qualifying for a mortgage isn’t difficult enough for first-time homebuyers, you also need to factor closing costs into your budget. These fees and taxes typically add 2%–6% to the cost of your purchase. And if you are not prepared, they can become the difference between moving in and moving on. With this in mind, here are key things to know about closing costs.
What are closing costs?
As their name implies,[...]
A very common question that we get asked as our clients get ready to buy a home, is what is the difference between pre-qualification and pre-approval? Are they the same? Is one better that the other?
The truth is they sound very similar, and in fact they are similar in many ways. But the differences between the two are important and consequential to the overall readiness of a prospective buyer with regard to the mortgage process. Let’s explore the two a[...]
Buying a home remains an important aspect of the American Dream for many people. But how has the pandemic affected that dream? The COVID-19 pandemic indeed not only changed how we live and work, but also how we view and manage our finances. Is selling or purchasing a home during these challenging times a good idea?
The American Dream is alive and well, but before you decide to buy a house during the pandemic, consider these four factors.
Incredibly Low Interest[...]
Unless you won the lottery and are going to pay in cash, it’s always good to talk to lender to find out what you can afford before you start shopping for a home. But there are steps you can take before then to prepare yourself, mentally and financially. In fact, it only takes a simple assessment of your debts and income to set reasonable expectations on the mortgage and home you can afford.
Understanding DTIs
Today’s[...]
Since the risks and advantages of loan products vary for each borrower, it’s best to talk to a licensed loan professional to determine what’s best for you.
After you settle into home ownership, it’s natural to start thinking about buying a second home. A house by the lake. A cabin in the mountains. A condo in a resort destination. And why not? When you get it right, a second home offers numerous quality-of-life and financial benefits. Of course, it[...]
There are many kinds of mortgage lenders, however, Summit proudly wears the badge of being 100% referral based… but what does that even mean?
It means our business is built 100% off the recommendations we receive from our trusted clients. This means we don’t spend time filling your mailbox with gimmicky teaser rates or purchase your information in bulk from credit reporting agencies but instead spend the time focusing on delivering a customer experience that is[...]
Start The Process:
This step is the most overlooked part of the entire process. When looking to buy a home, many families start with a real estate agent. While they can help you look for and negotiate a home, they do not know if you even qualify for a mortgage. Most Realtors® know this and will ask for a pre-approval letter prior to starting your home search.
In this step of the process, you will:
After March, most of the country switched to some form of remote work. While some of us have gone back to working in person, many office workers have continued to work from home. While this can be convenient, working remotely can be incredibly stressful. From blurred work hours to copious amounts of distractions, it is important to create an office space in which you can work well.
Comfort:
If you have ever worked in an office,[...]
When looking for a loan officer, it can be tough to know who to pick. While it is important to find someone that is cost-effective, it is even more important to find someone who isn’t afraid to guide you through the process. While we cannot speak for the entire industry, we have hand-selected our loan officers here at Summit and can promise you that our loan officers put the customer experience first. We do this through a commitment to[...]
Rates continue to stay at all-time lows, which means that many homeowners take advantage of refinances to lower rates and access their growing equity. If you refinanced before COVID-19 and have a high-interest rate, you may benefit from refinancing.
One of the common questions we hear from these kinds of borrowers is, “How often can I refinance?” This question has a few different answers and will depend entirely on your specific circumstance. Let’s break[...]
As temperatures start to rise and the holidays behind us, we usually see an uptick in real estate transactions. While spring is generally known as a busier season for real estate, we find ourselves in a very opportunistic time for buyers and sellers. Low inventory and interest rates have taken a typically busy period and turned it into one of the busiest times in history.
If you haven’t heard, the real estate inventory is beyond low in almost[...]
Before you start saving for a down payment, it is critical to clarify the exact numbers. Speak with your lender to determine the down payment and closing costs needed on your desired home. They will also know how the local market is growing and choose the right program for you.
Now that you have a dollar amount to shoot for, you will need to figure out how long you must save towards[...]
If you’ve ever bought a home, then you know just how much documentation will be required during the mortgage process. Many homebuyers report this as their biggest pain point during a mortgage transaction.
Luckily for you, we have helped thousands of homeowners and have it pretty dialed in. Our goal is to get the documentation from you upfront, and that way you can relax throughout the rest of the process.
Many homebuyers experience an increase in overall wealth after becoming a homeowner. This can be through the growth of their home’s equity or the fact that their monthly payment can stay low while rents skyrocket.
If you are in this situation and are looking to grow that wealth, even more, you may have thought about investing in a rental property. While rental properties are a great way to increase your monthly cash flow, they come with their[...]
Many families decide to embark on their home ownership journey to build wealth for the long term. Part of building wealth through real estate is growing your home’s equity. This equity begins from the moment you buy your home and will continue as long as you own the home.
Your equity in the home can be determined using one simple equation. The current market value of your home minus any mortgages on the[...]
Poor credit is one of the most common reasons that families put off their homeownership dreams. If you are dealing with vast amounts of debt or credit issues, it can feel overwhelming. Here are six ways in which you can improve your credit score today!
Large balances on your credit card will weigh your score down heavily. Even if you are current on your payments, your lender will see the large balance as a[...]
As a homeowner, there are many terms you will need to know. Here are the top ten:
Escrow is where your mortgage payment will be deposited every month. This account is a safe place where the escrow company stores your money and disburses it to the correct parties (taxes & insurance).
PMI is monthly insurance that a lender requires borrowers who put less than 20% down[...]
As a lender that made it through the Financial Crisis of 2007-2008, we know that doing the right thing for your clients should be your ultimate priority. As a lender that focuses on experience and customer service, we believe that it is our job to educate people on all their options.
As you shop for different lenders, you will notice a difference in interest rates. While this is a good indication of how much you are paying for a mortgage, it isn’t the only cost to look[...]
If you are buying your first home, you will need to learn some of the jargon before you get started. Here are the most important terms you will need to know ahead of the loan process.
You will hear the word appraisal earlier in the process. An appraisal is a 3rd party estimation of the value of the property. The analysis will be highly accurate and take into consideration the comparable sales in your neighborhood. This will give the lender an understanding[...]
Interest rates have made headlines all through 2020 and 2021. These historically low-interest rates have caused many families to consider buying their first home. Making this decision will help benefit your future long term, but it’s important to remember that there are more factors than the interest rate when shopping for your home. Here are five things just as important as rate when shopping for your home.
Your monthly Payment is an incredibly[...]
Spring is around the corner, and while that means warmer weather, it also means showers! Here are the top eight indoor/rain activities for you and the family.
Baking is an activity that produces fun but, most importantly, delicious results. Find a recipe that is easy for your children to help with and won't take hours to make. You can find hundreds of recipes on Pinterest, and you should have all the ingredients at home to get started.
If you have ever tried to budget, you know that it feels akin to dieting. A lot of motivation and wishful thinking, but shortly afterward, you find yourself back where you started. After working with thousands of homeowners on their down payment saving plans, we have learned the right way to budget. Whether you are looking to save for a down payment, build your emergency fund or pay for your kid's college tuition, here is the right budgeting process to make this[...]
After helping thousands of homeowners, we have heard every question out there. We have compiled the list of the most commonly asked questions about the home loan process.
You do not need a 20% down payment to buy a home. While putting 20% down will help you avoid paying mortgage insurance, it is not a requirement of any loan program for a primary residence. Depending on the loan program you go with, you can put zero down. These[...]
Real Estate has helped thousands of American families achieve wealth, and we believe that you can too. Using this four-step process, we know that you can create the wealth and freedom that you deserve.
Building wealth happens one step at a time. The first step is to pay off what we refer to as “bad debt.” Bad debt describes the type of debt that is tied to a liability. This can be car loans, credit[...]
Buying your first home is an exciting time in any family’s life. However, it can be intimidating to know where to start or know what questions to ask. Here are the top 5 questions we think every first-time homebuyer should ask themselves before buying a home.
Before you buy your home, make sure that you have a financial plan. A sturdy financial plan can help you account for potential roadblocks before they even[...]
Many families have decided to relocate to new neighborhoods, cities, and even countries over the past year. Before Covid-19, most property tours were being completed in person. However, after social distance mandates and a significant shift from population-dense cities, many families have had to search for their homes virtually.
While buying virtually allows homeowners to act quicker (a plus in today’s competitive market), it also comes with potential drawbacks. We have[...]
Moving can be a stressful experience for any family. Whether it’s down the street or across the country, moving will force your family to adjust to an entirely new environment. While this change is for the best, it can be overwhelming for your children. Here are six tips to help ensure your move is smooth for your kids.
Part of what makes moving so tricky is the lack of familiarity. Scoping out the[...]
Buying a home is one of the most important decisions that you will make in your life. You need to plan and prepare for this significant commitment so that you can get the best loan possible and move into your new home with no worries! This blog post will share six things that could make it harder to get a home loan - what they are, how they affect your ability to buy property, and what you can do about them.
Bad credit is one of the most[...]
The process of applying for a mortgage is not an easy one. There are many things you need to know before taking on the responsibility of owning your home. This blog will go over four essential points that every borrower should consider before walking into their first mortgage application meeting with a lender.
Your credit score is important to help the lender understand the risk associated with your loan. It's important to[...]
Are you considering buying a home? If so, then it's essential to know what you're getting. Buying a home is an exciting time in your life, but it can also be stressful. There are many things to consider before committing to the purchase, and this blog post will help walk you through them!
Location is without a doubt the most crucial factor in buying a home. After all, what's the point of purchasing a house you don't want[...]
Homeownership gives you the freedom to create a style that is truly your own. As a homeowner, you have complete control over the personality of your home, from painting to renovations. However, as a new homeowner, you may be thinking… what is my home’s character?
While we can’t decide that we can help you experiment by checking out the following six tips to help give your home personality without going ultimately overboard.
The myth that you need 20% down has kept families from becoming homeowners for years. While many programs require a down payment, there are many low to no down payment options that can help you get into a home today!
Depending on where you live and your financial situation, you may have access to programs that will pay your down payment on your behalf. These programs often come with higher[...]
Buying a home can seem like an intimidating process. However, with the proper knowledge and guidance from someone who has been there before, it's not as difficult as you may think. Here are some of the most common mistakes first-time homebuyers make and how to avoid them!
Buying a home is more than just a place to live. It's an investment in your financial future. If you don't think[...]
The summer months are known as being a difficult time to buy a home, but the truth is that there are some great things about buying during these months. If you're thinking about purchasing a new house shortly, here's what to expect when looking for homes in the summer.
Since kids are on their summer break, it makes a great time to move. They aren't going to get uprooted in the middle of[...]
It's no secret that listing your home for sale is one of the most stressful transactions you will ever go through. You have to deal with listing agents, negotiating terms, and everything in between. That's why it's so important to make sure you're working with a listing agent who has the experience and skillset to help you sell your home quickly for top dollar!
A listing agent helps you list your home on the MLS and find[...]
Refinancing your loan can be a great way to consolidate debt and save money on interest, but it is not always the best option. You need to make some considerations before refinancing that will help you decide if this is the right decision for your household. For example, if you don't have any equity in the home or a significant change in income, refinancing might not be worth it for you. This article will go into more detail about these considerations and help make your decision[...]
When making a mortgage payment each month, you may be wondering... where is all my cash going? We like to use the simple acronym "PITI" to help break down the monthly mortgage payment into bite-sized pieces.
PITI stands for principal, interest, taxes, and insurance. It's the acronym that most people forget about when they get a mortgage. PITI includes everything you need to know about where your money goes each month: you're[...]
Technology is becoming more and more advanced and has made our lives easier in many ways, so it's not surprising that some homeowners want to take advantage of this technology by making their homes smarter! Here are six ways in which you can make your home smart!
Giving your thermostat a much-needed refresh can make your home more energy-efficient. Technology has advanced to the point where you can now control your thermostat from[...]
You've been putting this off for a while. You're not ready to buy a house or rent an apartment, but you know that it's time to start looking. You might be thinking, "I'm not ready yet." You must understand the importance of being prepared before your home search begins. This article will discuss four steps that can help prepare you for your future home by ensuring that you are pre-approved, educated, and ready to start your home search when the time is[...]
When looking for a mortgage lender, it is essential to research and ask the right questions. Mortgage lenders can vary in terms of their rates and services offered. In this blog post, we will go over some questions that you should ask when interviewing your potential mortgage lender to ensure they are the best fit for you!
Asking your lender about the number of families they help will show you whether you can trust them to[...]
Buying a new home or purchasing a second-hand home is one of the most important decisions for anyone looking to buy a new home. With so many factors to consider, it can be challenging to know what will work best for you and your needs. In this blog post, we will look at the pros and cons of both options to help take some of the confusion out of your decision process.
A credit freeze is designed to protect you and your credit information from being accessed by a third party, be it a creditor or fraudulent thieves. But a credit freeze may not be in your favor if you're trying to get a mortgage, so you must understand how it would work before putting one on your account. In this blog post, we will define what a credit freeze means and discuss its possible effects on your mortgage, as well as what you can do to get it[...]
The right of rescission is a very important part of the law that protects consumers from unfair practices. It's an aspect of mortgage lending that many people don't know about but should. This blog post will discuss what it is when it starts and end and how to use it correctly to get your money back if you want to cancel your loan before closing on a home.
The right of rescission is the borrower's option to[...]
Mortgage loans are an important part of the American economic system. They allow many people to buy their own house, get out from under a burdensome rent payment and afford some measure of financial freedom. This blog post will help you understand how your personal factors affect your interest rate on a mortgage loan such as credit score, debt to income ratio, and loan to value.
The amount of money you are borrowing for the mortgage will have[...]
Investment property is a popular way of generating income for people who want to escape the rat race and start living their lives. But before you jump in, there are some things that borrowers need to know about financing an investment property. The article will touch on key things that borrowers must keep in mind such as the difference in down payment required, the pre-approval qualifications, credit score needed, and the size of the monthly mortgage[...]
The idea of a mortgage forbearance agreement can be scary for many homeowners. It often means that you have reached your limit with the lender and need to make some changes to keep your home. But what is a mortgage forbearance agreement? This blog will discuss how they work, the different repayment options available, and the modifications borrowers can make to their mortgages to be able to afford their monthly payments.
It's time to decide where you want to live. Should you stay in your current city or move somewhere new? Maybe it's time for a change of scenery. There are so many factors that go into this decision, and the list can seem overwhelming. We've compiled some of the things to think about before making a decision for a home location!
Now for the fun part. The place you live should be somewhere that offers a commute that's close to[...]
