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You sign your mortgage disclosures and budget carefully for the mortgage payment stated on them. You’d think that’s your payment for the next 30 years, but suddenly, your mortgage payment has increased. What’s the deal? It’s true, your mortgage payment…
When you’re thinking about buying a home, you’ll most likely will need financing. Understanding how the mortgage process works and what you must do to get approved can make the home-buying process much less stressful. Here’s how the mortgage process…
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 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…
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…
Applying for a mortgage is a big deal, and the lenders want you to take it seriously. In addition, once you apply for a mortgage, you must keep your credit, income, and assets status quo. Any changes could risk…
You have many options when looking for mortgage financing, including using a mortgage lender or mortgage broker. While anyone can use either option, there are benefits you might not realize with a mortgage broker. Understanding how mortgage brokers work and…
Getting ready to purchase a home? You’ve probably heard about the FHA loan, especially if you are a first-time homebuyer. What is this home loan option and is it right for you? Using an FHA loan in Philadelphia can be…
