Are you looking for a way to lower your mortgage payment before purchasing your dream home? A 2-1 buydown is an option that could be a potential avenue for you to reduce your mortgage. A 2-1 buydown can be an attractive option for prospective homeowners looking for short-term relief on their monthly payments. As a…
Home Decorating Hacks That Will Make Any Space Appealing Home sellers want to be able to sell their homes as quickly and efficiently as possible, while buyers want to find a home that meets their needs and is within their budget. This can be a challenge if you don’t know how to make your home…
Thinking about purchasing a home but not sure which mortgage to apply for? Once you’ve eliminated the less desirable choices, choosing between a 15-year and 30-year mortgage is often all that’s left. Okay, but which one is preferable? If this is your first time purchasing property, you may be overwhelmed by all the options available…
There are many factors to consider when considering renting versus buying a home. Chief among these can be your desired mobility. Indeed, suppose you anticipate your residence in a place to be short-term. In that case, renting does afford a greater degree of flexibility. And yet, as the availability of housing continues to grow tighter,…
Saving for a new home is unlike any other savings experience. You’re not just filling a bank account and hitting a number. Instead, you’re preparing for what is likely the largest purchase of your life. In a competitive housing market where bidding wars are common, you’ll want to have every advantage when saving for a…
If you’re a first-time home buyer, it can feel like you’re taking a crash course in the real estate industry. From the type of home you want to what you can afford to the myriad options for financing, it can be overwhelming. As mortgage professionals, we’ve seen it all from our side of the lending…
When you apply for a mortgage, lenders execute financial calculations to determine whether or not you qualify for a loan. Therefore, you should become familiar with the debt-to-income ratio (DTI) before buying your home. This formula will help you understand what lenders are looking for when approving loans and how to ensure your financial health…
Buying a house without a real estate agent can be scary if you do not know where to start. But, while it may not be easy to maneuver through without an agent, it is still possible to buy your dream house if you learn various tips and tricks. The tips will guide you in making…
How to Make Sellers’ Agents Know You Are a Serious Buyer Today’s housing market is experiencing increased competition. With lower housing inventory and fast-moving buyers, bidding wars and competitive offers have become more common. As a result, buyers may need to act more quickly to have an edge in this crowded landscape. One way to…
“You’ve Been Pre-Qualified!” We’ve all received mailers and emails letting us know that our finances are in good shape to buy a house. The message usually goes on to say that you’re a great potential customer to become a homeowner. After a pre-assessment of your finances, credit history, and earning potential, a lender has determined…
When you refinance your house, the new loan pays off the existing loan. The most obvious advantage of refinancing is helping financially strained borrowers to use some of the money from their home’s value to cater to other needs. This is especially helpful when you’re anticipating an increase in your budget. Other benefits include shortening…
“Is now the right time to buy a home?” This is a question that everyone should ask themselves when they start dreaming of a new house and saving up for a down payment. Whether you’ve been saving for several years or you have just started dreamily browsing Zillow, the best time to buy is mostly…
