What It Means to “Refinance” a Mortgage (Minus Confusing Industry Jargon)

You own a home, you have a mortgage and you know that, after some time, you’re supposed to consider refinancing that mortgage. At least that’s what friends and neighbors are doing. But what exactly does it mean to refinance? And why should you do it? You’d be hard-pressed to find a clear-cut answer to those [...]

By |2018-08-14T09:31:58+00:00August 14th, 2018|Categories: Refinance|Tags: , , |

Make Your Offer on a House Stand Out from the Rest

Navigating the mortgage approval process can be challenging, and at first glance it can seem like a lot of work. Because of this, it's not unusual for some buyers to procrastinate. They're anxious to get started with those walk-throughs and open houses and tell themselves they'll worry about the mortgage details later. In this current [...]

By |2018-08-10T06:40:46+00:00May 24th, 2018|Categories: Mortgage, Purchase|Tags: , , |

The Point of Points

What are these and why do I need them? Points are one type of fee paid at closing by you to your mortgage lender. There are two types of points: origination and discount points. Origination points are charged to recover some costs of the loan origination process. Depending on the lender, the origination point(s) may [...]

By |2018-08-10T07:26:38+00:00April 7th, 2018|Categories: Mortgage, Purchase|Tags: , , |

Breaking It Down: Understanding Your Home Closing Costs

When you're a first-time homebuyer, the entire concept of closing costs may be elusive and intimidating. You know they're coming, but you have no idea what to expect. Luckily, a little knowledge can go a long way. Fees for loan application services and costs associated with your monthly mortgage—usually referred to as closing costs—can be [...]

By |2018-06-08T02:29:02+00:00March 30th, 2018|Categories: Financial, Mortgage|Tags: , |

Understanding Your Mortgage Quote

Prevent surprises at the closing table. Learn about the programs available to you. You've decided to buy—that's a major financial commitment. Since you'll probably have your mortgage anywhere from 15 to 30 years, it's important to understand what your mortgage quote includes. Your lender will provide a mortgage quote based on several factors. Length of [...]

By |2018-08-10T07:35:04+00:00March 28th, 2018|Categories: Mortgage, Purchase|Tags: |

Getting Started on Your Home Purchase

Buying a home can be a challenging experience, but you have help. Your real estate agent is there to help with the home search and your mortgage lender is there to get you through the mortgage process. Utilize these people and their knowledge to help you navigate through all the steps. Here, we'll talk specifically [...]

By |2018-08-09T03:06:46+00:00March 24th, 2018|Categories: Purchase|Tags: , |

The Different Mortgage Types for Homebuyers in 2018

It’s important to know about the many mortgage types prospective home buyers have to choose from before you hit the street this spring. Fixed-rate mortgages versus adjustable-rate mortgages, government-backed versus conventional loans—there are mortgage types to fit every situation. But, which is right for you? Here’s a handy list we think will help. Mortgage Types: [...]

By |2018-06-08T03:28:53+00:00February 12th, 2018|Categories: Mortgage|Tags: , |

What You Need to Know When Getting Help with a Home Down Payment

When it comes to buying a home, there’s not just the mortgage rate and listing price to worry about. You also have to cover the home down payment---and if you don’t have much (or any) in savings, this could be the trickiest part of your purchase altogether. Though you certainly don’t need to put 20 percent [...]

By |2018-01-02T11:45:10+00:00January 9th, 2018|Categories: Mortgage, Purchase|Tags: , , |

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