Category: New Home Loan

The Ultimate Guide to Mortgage Interest Rates: What You Need to Know

If you take out a $250,000 home loan, you won’t pay back $250,000 exactly. Instead, you’ll pay $250,000 plus interest. The amount of interest you repay is expressed as a percentage, known as your mortgage rate.  Interest is the reason why home loans are available at all; they create a mechanism for lenders to profit […]

Mortgage Pre-Approval: Your First Step to Homeownership Success

When you’re pre-approved for a mortgage, you’ll receive a letter from a lender who commits to lending you a certain amount of money as long as you close on a house within a certain period.  Pre-approval means you’ve already gone through the process of formally applying for a mortgage. An underwriter has examined your financial […]

How to Spot a Great Realtor

Having a positive home-buying experience means working with a skilled buyer’s agent. A buyer’s agent can help you find homes you’d never see on Zillow, can help you negotiate with sellers, and can help you make competitive offers in a tight market.  The best buyer’s agents also know the neighborhood and the local market inside […]

Compare 4 Low Down Payment Loan Options Excluding FHA

Many people believe that FHA loan programs are the only low-down-payment loan programs. While the FHA loan program is an excellent one, you don’t have to resign yourself to saving 20% down if the property you are interested in isn’t suitable for an FHA loan.  Fannie Mae and Freddie Mac offer several other excellent programs […]

Getting Back Into the Housing Market After Credit Difficulties

Contrary to popular belief, you do not have to have a perfect credit history in order to buy a house. It’s more important to understand what an adverse credit event will require of you after it happens. After an adverse credit event, you will generally:- Need to observe a waiting period before you take out […]

How to Get a Home Loan When You’re Self-Employed

Many of the financial systems in this country aren’t necessarily built for self-employed individuals. Many of them rely on the idea that most people receive a regular paycheck from their employer. Nevertheless, it is possible to buy a house as a self-employed individual. You just have to take a few steps that more traditionally employed […]

Purchasing a Condo or Townhome

Townhomes and condominiums can offer homeowners many benefits, including convenience and lower maintenance, but purchasing this type of home can also present challenges, particularly when dealing with condo mortgage loans. Due to the way condos and townhomes are categorized by mortgage lenders, they often have mortgage requirements that are more stringent than those of a […]

How can you tell that your mortgage broker is doing a great job for you?

Identifying whether your mortgage broker is doing an excellent job for you involves assessing various factors related to communication, responsiveness, transparency, and the overall effectiveness of their services. Here are key indicators that your mortgage broker is performing well on your behalf: Clear Communication: Explanation of Options: A good mortgage broker should explain different mortgage […]

Navigating the Mortgage Maze: Top 10 Things to Know When Applying for a New Home Loan

Buying a new home is an exciting journey, but the process of securing a mortgage can seem daunting. Understanding the ins and outs of mortgage applications is crucial for a smooth and successful home-buying experience. Here are the top 10 things you need to know when applying for a mortgage: 1: Know Your Credit Score: […]