What are Closing Costs?
You’ll need more than the down payment when you buy a house. You’ll also be responsible for closing costs. Knowing how much you might pay and how to lower them can help make it easier to buy a house. Closing…
What is Pre-Approval, and Why do you Need One?
The mortgage pre-approval is the most important initial part of the mortgage process. It’s the key to closing your loan on time and getting the financing you need. It’s strongly recommended to get pre-approved before looking at homes. It streamlines…
Home Inspection Reports – Should you Consider One?
You have many big decisions when buying a home, including whether you’ll pay for a home inspection. The good news is your lender won’t require it. While that’s good news and could save you money, you should decide for yourself…
FHA Lowers Mortgage Insurance Premiums on FHA Loans
Approximately two weeks ago FHA announced they will be lowering mortgage insurance premiums for all FHA borrowers. This is welcome news for many because the MIP discount is as much as 30 basis points lower. The FHA dropped MIP from…
Mortgage Rate Lock – What if Rates Increase or Decrease
You must lock in your mortgage rate before closing your loan. But it’s a gamble. What if rates fall? They could also increase. While you’re locked into your rate no matter what happens, there are ways to take advantage…
Buying a House with No Down Payment
Buying a house with no down payment is possible. It sounds crazy, but there are loan programs that don’t require money down; however, you must still cover the closing costs, in some cases. So you’ll need some money to close…
Why is my Mortgage Score Different than What I see Online?
If you get your credit score from your credit card company or bank but then apply for a mortgage, and the score is different, you might wonder why. Two types of credit scores dominate the market – mortgage credit…
7 Things Not to do During the Mortgage Application Process
Applying for a mortgage is a big deal, and the lenders want you to take it seriously. In addition, once you apply for a mortgage, you must keep your credit, income, and assets status quo. Any changes could risk…
Introducing LIVE Rates – Mortgage Rates Made Simple, Transparent and Affordable
Have you had this common experience? You visit a bank or mortgage company website, trying to find out how much home you can afford or how much money you can borrow, but frustration inevitably ensues. You fill out a form…
Down Payment Assistance Programs – How do they Work?
If you’re considering buying a new home but don’t have enough money saved for a down payment, a down payment assistance (DPA) program may help. DPA programs help first-time homebuyers secure funds for a down payment and closing costs, so…
