Common Terms Used When Financing a Home
If you are in the process of buying a home, you are probably looking to get a loan for your purchase. A loan for the purchase of a home is called a mortgage. Here are some other common terms that…
Adjustable Rate Mortgages – Pros and Cons
Shopping for a new home can be a lot of fun. You get to explore neighborhoods, different styles of home, and (hopefully) find just the right place for you. Shopping for a mortgage is less glamorous, but still a very…
Credit Matters When Purchasing a Home
When you start your house hunting process, you probably have a list of features that your dream home will have—an open floor plan, gourmet kitchen, a great backyard. Lenders have a list of ideal features that a mortgagee will have.…
Understanding Your Amortization Schedule
Congratulations, you bought a house! Before you’re able to unpack the last box, your mortgage company has probably been in touch about making that first monthly payment. Welcome to homeownership! If you are itching to get that loan paid off…
What To Do When You Inherit Real Estate
The passing of a loved one is often a difficult and emotional time. There are many things to arrange and if the person owned real estate, there can be some additional steps to consider when dealing with inheriting property. Understanding…
How much equity do I have in my home?
Home ownership is an admirable goal and one that many Americans work towards throughout their lives. You may think that once you sign on the dotted line and have the keys to your own home, you are a home owner.…
USDA Home Loan explained
Buying a home with no or minimal money used as a down payment can provide opportunities for buyers that otherwise may not be able to become homeowners. Fortunately for today’s buyers, there are a few programs that can help them…
The FHA Loan explained
One of the biggest hurdles that first time homebuyers face is saving up for a sizable down payment on a home. Even experienced homeowners may need to plan for a long time for a new home purchase. Fortunately, FHA loans…
Qualifying for a Mortgage When You Work for Yourself
If you are a freelance employee or entrepreneur, you may wonder how your income stream will impact getting approved for a home loan, or mortgage. While the process can be slightly different, with additional paperwork needed, working for yourself doesn’t…
