Fast Track your Mortgage Approval
Many people think getting a mortgage approval is a difficult and stressful process. Since a mortgage is often the biggest financial obligation someone has, it’s no wonder qualifying for one requires some work. Between the mounds of paperwork and the waiting time involved as approvals are processed, it’s normal to feel anxious and stressed. However, […]
Mortgage Banker Versus Mortgage Broker
Should You Use a Mortgage Banker or a Mortgage Broker? When it’s time to secure a home loan, many people seek out a mortgage broker. But is this your best option? Would a mortgage banker be a better option? If you’re not sure of the difference between a mortgage broker and a mortgage banker, you’re […]
Your Mortgage Application Checklist
Before you apply for a mortgage, you’ll need to gather many different documents to complete your mortgage application. The better prepared you are before you meet with your lender, the less stressful the mortgage application process will be. Here is a handy checklist of the most common documents you’ll need to have ready. General: Income: […]
Why You Need a Mortgage Pre Approval
Many home buyers wonder if they should get a mortgage pre-approval or a mortgage pre-qualification before they start their home search. If you’re serious about buying a home, getting a mortgage pre-approval before you work with a Realtor and start your home search is preferred. Mortgage Pre-Approval versus Mortgage Pre-Qualification Realize there’s a big difference […]
Understanding the Closing Costs for Home Buyers
Buying a home has many costs associated with it—not just the down payment, but also the closing costs. In fact, many buyers, especially first-time home buyers, are often surprised at how quickly the closing costs can add up. The average closing costs percentage is about 2% to 5% of the purchase price, but 3% to […]
5 Reasons to Refinance Your Mortgage
If you’ve had a mortgage for any length of time, you may have thought about refinancing it. After all, the TV and internet commercials touting the benefits of doing a mortgage refinance are plentiful. They claim you can do everything from save money and pay off your mortgage faster to use the equity in your […]
Loan Estimate – What it is and Why it’s Important
When you apply for a mortgage, you receive many documents—one of which is a loan estimate. Be sure you carefully review this vital three-page document. It’s essentially your guide to the mortgage you’re applying for. And if you don’t receive one, speak up! By law, your lender must provide you a loan estimate within three […]
Avoid These Mistakes When Applying for a Mortgage
Applying for a mortgage requires that you do certain things, such as check your credit, get your financial papers in order, and save as much money as possible for your down payment. But there are also several things you should NEVER do when applying for a mortgage – things that could potentially cause you to […]
Looking for a Mortgage? Know Your Options
When it comes to getting a mortgage, you have options. Unfortunately, for many people, the various mortgage options seem confusing and overwhelming. In reality, they’re not, especially when you break them down into categories. That’s when it’s easy to see the many differences of each so you can decide which is the best option for […]
Mortgage Points – What Are They and Should You Buy Them?
During the mortgage application process, you’re likely to be asked whether you want to pay mortgage points. Typically, few people know what points are or how they work. And, unfortunately, many people inherently believe that points are bad. (Hint: They’re not.) Let’s start with the first question: “What are mortgage points?” In the simplest terms, […]
