Mortgage

May 2017

Pre-approved or Pre-qualified?

By |May 14th, 2017|

Shopping for a home is quite a bit different than shopping for other items. It is such a long term and expensive commitment that you must first show that not only do you have enough income and/or assets to afford the home you want to buy, but you also must demonstrate the ability and […]

November 2016

RIP Mortgage Insurance

By |November 17th, 2016|

MIP (Mortgage Insurance Premium) is insurance homeowners pay to FHA to protect the lender against loss on FHA insured loans.

 

You may be able to eliminate this monthly fee in certain cases. In some areas, values have gone up enough to allow homeowners to refinance and drop this charge. To find out if this applies to you, […]

Following Your Money

By |November 12th, 2016|

The financial details required to obtain a mortgage can seem never ending. I will never forget the time I watched a loan officer placing U.S. saving bonds on the copy machine as proof of funds for a down payment. There is a detailed process that goes on behind the scenes that determine if you are […]

October 2016

Landing a Mortgage

By |October 11th, 2016|

Applying for a mortgage is a dynamic process involving many factors.  Each financial institution and mortgage company makes case by case decisions regarding how much risk they are willing to take by lending people money. This risk is calculated not only by your finances but by assessing the risk of the property you’re buying. […]

June 2016

Mortgage? Yes, Please!

By |June 15th, 2016|

If one could only raise their hand and say “yes, please” to obtain a mortgage, the dream of homeownership would be simple. But the path to homeownership may be a bit curvier than you expect if you are carrying too much credit card debt or haven’t established credit.
 
Establishing a credit history isn’t difficult if you focus on a slow but steady plan. Borrowing small amounts and paying them off steadily can prove to the financing institutions that you are reliable. The same goes for paying down credit cards. Credit-building strategies take skills that will serve you well in life, the skills of perseverance and reliability.
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May 2016

There Is No Time Like The Present

By |May 23rd, 2016|

If you’ve been thinking about a refinance, now may be the ideal time to make your move. Rates are at a historical low and they may not last. There are many benefits to refinancing your current home loan. Here are just a few:
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February 2016

Get Ready

By |February 15th, 2016|

As the preferred mortgage lender of Advantage Home Plus, whether you want to secure a preapproval or just have general questions, we’re here to guide and advise you. Hey, we might even make the process an enjoyable one. Imagine that?
 
If you’d like to start the preapproval process, it’s a good idea to get organized ahead of time. You’ll need to gather the following information:*
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January 2016

MIP (Mortgage Insurance Premium)

By |January 21st, 2016|

MIP (Mortgage Insurance Premium) is insurance homeowners pay to the FHA (the Federal Housing Commission) to protect the lender against loss on FHA insured loans.
 
You may be able to eliminate this monthly fee in certain cases. In some areas values, have gone up enough to allow homeowners to refinance and drop this charge.
 
To […]

October 2015

The Seller’s Market

By |October 16th, 2015|

The National Association of Realtors (NAR) recently reported that the inventory of homes for sale is low. In a balanced market, a 6-month supply of available homes is the norm. Currently there is only a 4.8-month supply of homes available. If you are debating selling your home this year, it might be time to meet with a local real estate professional who is able to tell you what price homes similar to yours are selling for as well what price you might expect. […]

July 2015

Sell Now

By |July 20th, 2015|

Live in the Present
If you are waiting to put your house on the market, now may be the perfect time to sell. In years past, selling cycles usually peaked early summer, but last year amid the threat of an increase in interest rates more people entered the market mid-summer. Selling now may also save you on the monthly mortgage payment for your next home if you sell before the predicted rise in interest rates. The possibility of an increase in mortgage rates currently is spurring the home-buying market. […]