If you’re thinking about buying a home and you’re short on cash, here are a few things you might want to consider as it relates to downpayment and closing costs… There are two main mortgage types; government-backed loans, and government-insured loans. Government-backed loans are Fannie Mae and Freddie Mac while government-insured loans are FHA &…
If you have a really low mortgage rate on your home right now, but you want to buy another home, there needs to be some sort of justification, for giving up the historic, low-interest rate to go into a higher-priced mortgage, here are some things consumers have to weigh out as a relates to making…
If you’re thinking about doing any kind of a mortgage loan to purchase or refinance a home, and your credit needs some work, that might be a sign to pull back, and it also might not. Here are some things to consider that go in correlation with getting a mortgage beyond your credit score. Let’s…
If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…
If you’re looking to get prequalified to buy a home, one of the main elements, a lender will use to determine your ability to afford that home is your income. Your gross monthly income from your W-2 wages or your net income from your tax returns is what the lender will use as a basis…
In the last few weeks, a handful of big banks have failed including Silicon Valley bank signature bank, and now First Republic Bank. While this is not a repeat of 2008, it does signal instability in the broader mortgage market which may be good news for long-term mortgage rates. Hear some things to consider… First…
If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…
The recent failure of Silicon Valley Bank points to a broader issue that banks particularly depository institutions face as relates to their financial stability. Here is how this benefits your finances when buying or refinancing a home… Here is how a bank works, a bank takes the depositor’s money, and lends it out. They do…