Below you'll find a list of all posts that have been tagged as “Mortgage”
The average home purchase takes about 45 days. That is just over a month. It doesn’t sound very long, does it? Except that a lot can happen in 45 days, including a car breaking down, a company bonus, and a shopping spree for the new home. All of these could cause issues for your mortgage application, which is why you …
Buying a home is an enormous financial commitment, so you should be certain that you’re prepared for your monthly payments. Before you start your home search, you should know exactly what you can spend so that you can narrow down your search and feel confident in your purchase. There are a number of considerations to […]
If you have additional income after paying your mortgage and other bills, you may be concerned about what to do with it. The financial choices you make today will affect your future, so it’s important to choose thoughtfully when you have extra money. You could use the funds to make extra payments on your mortgage, […]
Buying a home is an exciting accomplishment, but it can be a lengthy process. The first step toward becoming a homeowner is getting approved for a mortgage. When you apply for a home loan, the lender will ask for a number of documents to prove that you’ll be able to make the payments. You should […]
In just a few months, COVID-19 changed daily life for almost everyone in the world. High unemployment rates and closed businesses have led to financial uncertainty for many Americans, and even experts aren’t sure what the long-term effects of the pandemic will be. However, the coronavirus has had a positive impact on mortgage rates. Since […]
After the offer on the home is accepted, an appraisal will be conducted by a third-party company. The appraisal gives a second opinion on the fair market value of the home. This assures the lender that they are making a sound decision lending their money to the buyer. As long as the buyer is getting financing for the home, there …
Is purchasing a home one of your goals? First things first, retrieve your credit report and assess if there’s anything you can do to improve it before securing financing. The better your credit report, the better interest rate and terms for your mortgage, which can save you thousands in the long run. If you want to improve your credit score, …
REALTOR® Melanie Cameron explains the differences between a Forbearance, Loan Modification, and Loan Deferment. Don’t make a blind choice just because someone says you don’t have to pay your mortgage for 3 months. Each of these actions have different consequences and one may make your financial situation worse. If you have any questions, don’t hesitate to reach out to …
REALTOR® Melanie Cameron explains how to determine if now is the best time for you to refinance your home mortgage and what lenders will be looking at when deciding if you qualify for a new loan. Rates may be good but refinancing may not make sense for your situation. If you have any questions or would like the names of …
A tight inventory and buyer demand has led to an increase in home values. The typical home in the United States now costs $244,054. That is 3.7% higher than December 2018, according to a report from Zillow. When potential buyers see prices rise, it’s a gut reaction to think that homes are less affordable, and they should hold off on …
