Mortgage Purchase Archives

hand reaching for house showing how to buy a second home

How To Buy A Second Home: 5 Key Details You Need To Study Carefully

How To Buy A Second Home: Do’s and Don’ts Whether it’s a vacation property, a vacation home, or just a place for their elderly parents, nearly 10 million Americans have a second home. For the half of Americans who own their home, a second home could seem like twice the headache. If you don’t know how to buy a second home, you can bet it will be. Buying a second home involves saving the money to buy it. Most importantly, you also need to gain the knowledge of the housing market you plan to purchase. Getting to know the difference between an Read More…

What is a Home Loan Pre Approval? Follow These Easy Tips to Simplify

What is a Home Loan Pre Approval? If you’re ready to buy a home, congratulations! Before you can go shopping, you need to know your budget. To find it, you’ll need pre-approval with a mortgage broker. We put together this pre-approval guide to help you have a positive experience when applying for your loan. We’re answering questions like, “what is a home loan pre approval” and “why do I need one” below! What is a Home Loan Pre Approval vs. Pre-Qualification? Many realtors or home buyers use the terms pre-qualified and pre-approved interchangeably. However, they’re completely different things. What is Pre-Qualification? Pre-qualification is Read More…

How To Find A Home – 10 Easy Tips To Help You Enjoy The Experience

How To Find A Home Buying a home can be a stressful experience for many people. It can be particularly overwhelming for millennials who are entering the home buying market for the first time and comprise 35% of the market. Providing prospective home buyers with the necessary financial information on how to find a home can help make buying a house a more enjoyable experience. Here’s a list of 10 tips on how to find a home to help reduce your stress. Let’s get started. 10 Tips on How to Find a Home: 1. Improve Your Credit Score Your credit Read More…

How to Get a Mortgage Loan – 8 Easy Steps to Home Ownership

How to Get a Mortgage Loan The time has come for you to invest in your first home. Congratulations! Are you ready to take the next steps to learn how to get a mortgage loan you can afford? Owning a home is a big responsibility and a major financial investment, and it can be tricky to find the most affordable mortgage for your personal lifestyle and yearly income. Therefore, pay close attention to our these key tips for landing your first mortgage. 1. Debt-to-income Ratio First of all, using a debt-to-income ratio can factor into your mortgage affordability. It simply Read More…

How to Find Homes for Rent – 5 Incredibly Simple Steps

How to Find Homes for Rent In 2016, about one-third of the U.S. population lived in a rental property, and there were about 42.58 million housing units that were occupied by renters. For many people, renting a home is an excellent choice when they don’t have enough money for making a down payment or ready to purchase one. With the growing U.S. real estate market, it can be a challenge to find a home that suits your needs. Some markets are somewhat costlier than others while other locations are quite competitive. Still, it’s possible to get a decent home to Read More…

The Best Fixed Mortgage Deals – How to Pick The Best For 2018

How to Pick the Best Fixed Mortgage Deals Buying a home is one of the significant financial obligations in life. For most Americans, getting a mortgage is the only convenient way to be a homeowner. Unfortunately, there are so many things that lenders consider when reviewing loan applications from borrowers. Some of these factors include credit score, credit history, mortgage points, income, and loan amount. The good thing is that the interest rates have been dropping from 10.32 percent in 1989 to 3.65 percent in 2016. As of 2018, the rate offered by many lenders averages at about 4.5 percent for a Read More…

What Are the Different Types of Home Loans? Know Before You Buy

What Are the Different Types of Home Loans When It’s Time To Buy? With so many types of home loans out there, how do you know what will work best for your situation? Whether you’re thinking about a mortgage purchase in the future, or you’re ready to buy now. This guide will help you narrow things down to help you understand what are the different types of home loans available when it’s time to buy a home. Main Types of Home Loans There are many different types of home loans, but for the average borrower, they usually fall into the following Read More…

How To Find A Mortgage – 5 Tips To Help You Get Your First Mortgage

How To Find A Mortgage Mortgage rates are expected to keep rising in 2017, but that shouldn’t discourage first-timers from making the leap into home ownership. These 5 tips on how to find a mortgage can help you navigate uncertain waters and land your first mortgage. 1. Check your credit score. Your credit score is one of the first things your first mortgage lender will look at, so it’s essential to know where you stand. Request a free credit report to find out your score. Different lenders will look for different scores, but anything above 760 will put you in Read More…

Difference Between Interest Rate APR – The Real Cost of Financing

Difference Between Interest Rate APR Interest rates always seem to be the focus when searching for mortgage financing. People tend to check with their neighbors, family, and friends to compare experiences. What they find is that no two experiences are the same. Your neighbor closed on a thirty year fixed loan at 3.5% while your sister transacted the same terms at 4.0%. One wonders why the neighbor did so much better. What you will learn in each situation is that there is a difference between interest rate APR. (Annual Percentage Rate). The mistake people make is not knowing there is more to mortgage interest rates Read More…