Financing is defined as borrowing money to partially or completely pay for a property. In exchange for borrowing money, the lender gets an ownership stake in the property. This process is called a mortgage. But at some point, you may find your mortgage isn’t right for you anymore. You may [...]
When it comes to purchasing a home, myths and urban legends abound. Get your mortgage facts straight. Here are some common misconceptions about that crucial first step to owning your own home: You Need Perfect Credit The idea that you need a spotless credit history to own your own home [...]
A great credit score can make a big difference in your mortgage rates, helping you pay off your home loan faster. While owning a home can improve your credit score, having a credit score of at least 550 before you buy a home is also important. Above 620 is ideal [...]
Buying a house is a little bit like dating. You don’t want to fall in love only to realize you can’t have the home of your dreams. Consulting a mortgage lender should be the first step in your home buying journey because it establishes reasonable expectations and provides proper financial [...]
If you're shopping around for a home loan, you've probably received multiple offers for mortgage insurance. In fact, you may even be wondering what it is. Some loans actually require homeowners to obtain mortgage insurance before they finance a home. So what exactly is mortgage insurance? MPI, PMI – What [...]
When it comes to buying a home, there are different types of loans offered by lenders to consumers. Of course, keeping track of them all can confuse homebuyers, especially if it's their first time purchasing a house. Fixed Vs. Adjustable All loans adhere to either a fixed or adjustable mortgage [...]
When you’re still trying to finish up school or get settled into a career, renting a home or apartment is the easiest. But, if you plan on setting roots where you are, owning a house can be just as affordable as renting – if not more beneficial. To decide this, [...]
School Districts are an important factor when considering new homes. It’s obvious for parents to search for home in areas with good school districts, but what about those who do not have children? For many reasons, including home value, it may not be a factor to brush aside. When home [...]
As the economy continues recovering, the face of homeownership is changing. Increasing numbers of people choose to rent rather than buy; especially young college graduates, newly married couples, or small families. The question of whether to rent or buy can get complicated because it depends on more than money. Choice [...]
Buying a home can be one of the most stressful journeys of your life. With all of the doubt, questions, and unknowns, there is much to worry about. Will we have enough money? Is this the right house? Is this the right neighborhood? Are we paying too much? It is [...]