Buying a home is exciting, but it’s a big commitment too. So before jumping into homeownership, you should understand what it takes to manage your money after buying a home. Of course, no two homeowners will use the same…
It’s a common myth that you need perfect credit to buy a house. The truth is you don’t. You can buy a home with an average or sometimes even a low credit score. Of course, an excellent credit score…
Most homebuyers think of a 30-year mortgage when buying a house. It’s the most common because it has the lowest monthly payment, but there is also a 15-year option some buyers may want to consider. Here’s what you should…
If you have equity in your home or saved a down payment and are ready to buy a second home, the good news is there are plenty of options for financing a second home. The key is understanding what’s…
You’re pre-approved for a mortgage and can’t wait to become a homeowner, but there’s one big question. When is your first mortgage payment due? After closing on a house, making the down payment, and covering the closing costs, you likely…
Considering a move to Philadelphia or the surrounding counties? At Innovative Mortgage Brokers, we understand how exciting, yet overwhelming, it can be to relocate to a new city. There are numerous factors to consider, including finding the perfect neighborhood, choosing…
Introduction Explanation of what an FHA mortgage is A Federal Housing Administration (FHA) mortgage is a government-backed loan program designed to help homebuyers secure affordable financing for their homes. It was established in 1934 as part of the National Housing…
When it comes to buying a home, there are two main types of mortgages to consider: FHA mortgages and conventional mortgages. Here are some key differences between these two mortgage types to help you decide which one is right for…
You applied for a mortgage and know the principal and interest, but do you know what else goes into your home’s monthly costs? Your mortgage payment usually includes more than principal and interest, depending on how you set it…
The home buying process can be an exciting, but daunting task. With so many steps and decisions to consider, it’s easy to feel overwhelmed. One of the most important roles in this process is that of a mortgage broker;…
