Down payments can sometimes be an obstacle that stand between a first time home buyer and their dream home; but they don’t have to be! Putting down an initial lump sum of cash is no small investment. Typically, the rule of thumb for mortgages is to put down is 20% of the homes initial price. However, many people end up putting down less than...
The first step for a homebuyer looking to enter the real estate market as a financed buyer is preparing for and gathering the information they need to apply for pre-approval. During the pre-approval process, the buyer is evaluated on whether they qualify for the loan and the amount of the mortgage they qualify for. This should not be confused...
Having a less than ideal credit score can take the fun out of buying a new home. Your credit score is one of the biggest factors that a lender will evaluate when you apply for a mortgage, and the interest rate you are offered is directly related to your credit score. Lenders want to see that you can pay back the loan in a responsible and timely...
Q: What questions should I ask myself before applying for a loan?Buying a home is a very exciting time, but not knowing where to start or what to expect can leave new homeowners very stressed and anxious. Important factors to consider when buying a home are aspects like job stability, home mortgage loans, location, credit score, and down...
A Mortgage is type of lending that enables you to pay a portion of home’s cost upfront, while the money a lending institution loans you covers the remainder. Despite you having a lot to gain from taking a mortgage, it’s imperative to know the numerous ins and outs of the process to set yourself up for financial success. Mortgage interest rates...
