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;…
For many people, buying a home is a major financial goal. Owning a home offers many advantages over renting, as it provides financial security, stability, and a sense of pride of ownership. In addition, owning a home can be a…
If you're in the process of purchasing a home, you may have heard the term "mortgage appraisal" mentioned. But what exactly is a mortgage appraisal, and why is it important? In this post, we'll take a closer look at the…
As a mortgage broker, we've heard it all when it comes to mortgage misconceptions. From outdated assumptions to outright myths, these misconceptions can prevent potential homeowners from taking the first step towards fulfilling their dream of homeownership. That's why we…
If you’ve built equity in your home, you might consider using it. A home equity line of credit offers easy access to your equity with flexible payments. You can use the cash immediately for a financial emergency or have the…
