Your home is an investment, but it might not feel that way when you write your monthly mortgage payment. However, every time you make a payment, you gain more equity in your home. This means you pay your mortgage balance…
It happens all the time. You get a mortgage approval, only to find out a few weeks later, you lost it. What gives? How could you lose approval after the underwriter provided it? It’s more common than you think, but…
The real estate market has been a sellers’ market for the last few years, but the tide is changing, and in some areas the buyers now have the upper hand. Because of this, you may see more occurrences of seller…
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…
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…
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…
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…
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 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…
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…
