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If you are in the process of buying a home, you've probably come across the term “mortgage points” or “discount points”. Understanding what they are and when to buy them can make a significant difference to your long-term financial outlook.…
Navigating the home buying process can be overwhelming, especially when it comes to understanding the importance of a home appraisal. In this blog post, we'll break down the home appraisal process, what you can expect, and how it can impact…
Purchasing a home is a significant financial decision, and understanding various mortgage options can make the process less daunting. Here at Innovative Mortgage Brokers, we aim to simplify these choices for you. Let's delve into the details of different types…
As the housing market continues to evolve, more and more people are opting for smaller homes. This trend towards downsizing has gained significant traction in recent years, and it's not hard to see why. In this blog post, we'll explore…
Buying your first home can be both exciting and overwhelming. As a first-time homebuyer, you may have many questions and concerns about the process. To help you navigate this new territory, our team at Innovative Mortgage Brokers has compiled a…
As a prospective homebuyer, you may have come across the term "escrow account" during your research on mortgages. At Innovative Mortgage Brokers, we understand that the home-buying process can be complex and filled with unfamiliar terms. Our goal is to…
As you embark on your journey towards homeownership, you'll likely encounter two key players in the mortgage industry: mortgage brokers and mortgage lenders. Understanding the differences between these professionals is crucial to making informed decisions about your mortgage needs. Mortgage…
As a prospective homebuyer in Pennsylvania or Florida, you may be wondering where to begin your journey towards homeownership. At Innovative Mortgage Brokers, we understand that the home-buying process can feel overwhelming, which is why we're here to guide you…
PITI makes up your mortgage payment and affects how much you can afford. Lenders use it when calculating your debt-to-income ratio to determine if you qualify. The more money you invest in a home, the lower your PITI, but you…
As a mortgage broker, we’ve seen firsthand how the right lender can make a world of difference when it comes to securing a mortgage. A recent study by the Consumer Financial Protection Bureau (CFPB) highlights this point, revealing that borrowers…
