If you want a mortgage you need to be prepared financially and have all your ample documentation set up and ready to go. One such thing you need to be aware of is using cash. Here’s how to best support your cash when using down payment monies and or reserves to purchase a home…. First…
Picking the right mortgage loan type for your family is a big financial decision. Here are some things to consider about the three most popular types of mortgages and what the pros and cons and differences are between all three… Most mortgages today are for 30 year fixed rates. There are other terms available such…
With interest rates at historical lows, many families across the country would stand to benefit from turning in their high-cost mortgage in exchange for getting something far more affordable with today’s rates. There’s a lot that goes into the mix, including cost-benefit, what the real cost of funds is and many other factors to weigh…
A homeowners association payment can change your borrowing power. Here’s what you might want to think about when deciding to buy a home with a home owner’s association… A homeowners association payment can make or break your ability and or your desire to purchase a home. One of the things about homeowners association payments that…
One of the challenges of securing mortgage financing during this COVID-19 environment is forbearance. The pandemic has created some rather unprecedented and unique situations for people desiring to borrow money. If your mortgage loan is in forbearance and you’re trying to get a mortgage here’s what you need to know… First things first it doesn’t…
The Federal Housing Finance Agency just rolled out August 12th, 2020 new change to conventional mortgage refinances. Here’s what you need to know going forward… Fannie Mae and Freddie Mac are now assessing 50 basis points loan level pricing adjustment on all refinances for conventional loans going forward. For example, a mortgage that was offered…
Purchasing your first home or even a move-up home is no easy feat. You need to have a blend of credit, income, and manageable monthly expenses so you can support the desired house payment you’re looking to take on. The number one reason why people have a difficult time getting qualified to purchase a home,…
If you are trying to get a mortgage, the number one thing you need is affordability. How much you earn in relation to how much you spend can make or break your mortgage application. Here are some things to consider when you’re trying to figure out how to best improve your chances of borrowing money…