Refinancing could still make sense even if you plan to sell the home down the road. Here are several reasons to consider refinancing anyway. Financial Circumstances Can Change Let’s say you plan to sell your house in five to seven years. No matter how well you plan for the future financially, things happen. Job loss,…
If you have ever bought a home or plan to in the near future, real estate taxes and hazard insurance are necessary carrying costs you incur as a homeowner. There are two sides to every coin when electing to have these expenses rolled in your mortgage payment. Here are the facts on mortgage escrow accounts……
Homeowners who have not taken out a mortgage in a few years are often astonished at the amount of paperwork they’ll need in the mortgage loan process. If you have not refinanced in the last five years, here’s what to get up to speed on… Paperwork to Compile Scrounging up supporting documentation is the least…
The information you submit on your mortgage loan application should be incredibly accurate. This includes submitting full legal names and addresses as accurately as possible. Here’s why… Submitting a Loan Application When you apply for a home mortgage loan, your lender inputs the information you provide them for the purposes of procuring credit. This information…
If recent mortgage rate movement has spooked you into refinancing, you’ll want make sure to pay particularly close attention if your loan size is bigger than $417,000. Jumbo investors in the marketplace are offering lucrative rates and deals. Which Investor Plays a Role It does not matter where you apply for a mortgage. Whether you…
If you have never owned a home before or it’s been a few years since you have, you’re missing out on credit advantages. That’s right, when you buy a home you automatically become more credit worthy. Remember these tips when inking a real estate deal… Recorded Legal Transaction When you rent, you have an agreement…
Looking to avoid all the paperwork associated with getting a mortgage? Here are three loan programs with no laundry list. See if you’re eligible… Most mortgage loan products require you to provide two years of tax returns and W-2s, 30 days of pay stubs and at least two months of bank statements to provide a…
Conventional loans are crème de la crème of home mortgage market. This loan type offers the best possible terms and fees along sustainable long-term affordability. Little equity and credit blemishes can make your mortgage more pricey. What to know… Conventional Loans Mortgages originated by banks, lenders and brokers across the country and sold on the…