You found your dream home and now you are about to make an offer. Before you do, you should know the importance of including an appraisal contingency in your offer. Without it, you could find yourself Read More
The House Appraised for Less Than the Asking Price: Now What?
It happens all of the time – a home appraisal comes in lower than what the seller wants for the home. It only becomes a problem when the buyer agrees to that price since the lender will base the loan Read More
Steps to Take When Your ARM Payment Increases
If you took an ARM loan because you loved the low rate you were getting, you may be regretting that choice now. If your interest rate adjusted and it’s for the worse, you may be feeling a bit of Read More
Eliminating an Expensive Second Mortgage
Did you take on a second mortgage to either buy your home or consolidate debt? Maybe you accepted whatever interest rate was available at the time because you were desperate. Now that you are a few Read More
The Right and Wrong Things to do for Mortgage Approval
You’ve saved your money and improved your credit score, so you think you are ready to apply for a mortgage. While you might be good and ready now, there are certain things you should do and things you Read More
When is a Good Time to Refinance Your FHA Loan?
FHA loans have many benefits, but there can come a time when it makes sense to refinance out of it. Many FHA borrowers need the FHA loan originally because they can’t qualify for a conventional loan. Read More
What Makes a Mortgage Payment?
You know you’ll make a mortgage payment every month when you buy a house, but do you know what goes into that mortgage payment? It’s more than just principal and interest, although that’s a big part Read More
What Does the Inspector Look At?
If you are buying a home, it’s a good idea to get it inspected. The inspector will go through the home looking at every area to see if anything is wrong with the home. The inspector will create a Read More
Can You Shop for a Mortgage Without Damaging Your Credit?
When you apply for a purchase mortgage, the lender pulls your credit. That’s how they see what type of financial responsibility you have. If your credit score is too low, they won’t move forward with Read More
How Does Your Debt-to-Income Ratio Affect Your Interest Rate?
You apply for a mortgage and your goal is to get the lowest interest rate possible. You aren’t alone. You probably focus a lot of effort on your credit score. You figure that’s the one thing lenders Read More