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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…
If your mind is set on a specific interest rate, but the market isn’t cooperating, you might consider paying mortgage discount points. At the right time, discount points can help you reduce your interest rate, but they cost money upfront.…
Buying a home for the first time can be a thrilling experience, but it can also be stressful and confusing. As a first-time homebuyer, it's important to avoid common mistakes that can lead to financial setbacks or other issues. In…
Getting approved for a mortgage may feel overwhelming initially, especially since the requirements seem so strict, but it’s not as complicated as you think. The key is to be an informed borrower and know what lenders need to approve you…
Buying a home can be an exciting and fulfilling experience, but it can also be a complicated and daunting process, especially for first-time homebuyers. Here is what you can expect during the homebuying process: Determine Your Budget and Get Pre-Approved…
Most homebuyers think of a 30-year mortgage when buying a house. It’s the most common because it has the lowest monthly payment, but there is also a 15-year option some buyers may want to consider. Here’s what you should…
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…
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…
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;…
