If you are reading this, you are probably already thinking about where to find the best mortgage deal for you. Perhaps there are a few obvious names that spring to mind. But are you sure you have left no stone unturned?
You’ve heard of homeowner’s insurance, but have you heard of PMI? It stands for private mortgage insurance, and you may or may not need it depending on the terms of the loan.
The mortgage process has traditionally been one filled with jumbles and masses of paperwork — and the borrower is largely responsible for coming up with said piles of paper. We’re reaching for our aspirin just thinking about it.
The good news is that the days of paper mortgages could soon become a thing of the past.
Filling out a mortgage application may not be at the top of your list of relaxing leisure activities. But it doesn’t have to be as dreaded as a root canal, either! With a little education and preparedness, you can nip those fears in the bud and conquer your application with confidence.
If financial resolutions are top of mind for the 2020 New Year, you might be considering refinancing your mortgage. Find out why it’s a great time for a refi, and what you need to get started.
Needless to say, since 2008, income verification has become very important – arguably the most important factor – in qualifying for a mortgage. However, with half of millennial workers already freelancing, and that number steadily increasing, it’s important to know how to qualify when work doesn’t look like a nine-to-five.
Gather round, friends. Today we’re discussing fixed vs. adjustable-rate mortgages (ARMs). First of all, what’s the difference between the two?
Everything you wanted to know about mortgage rates but were afraid to ask. You probably already know that a mortgage rate is an interest rate — the one that your mortgage lender charges you to borrow money. But how is it determined, who determined it, and how will you know you’re getting a fair shake? Here’s what you need to know:
You may be saying to yourself, “Of course I want to own a home, but I wonder if I even qualify.” We can help.
What do bread, mattresses and credit checks have in common? What you don’t know can hurt you when it comes to credit. That’s why we’re here to tell you about the two different types of credit checks: hard and soft.
So you’ve decided you want to buy a house – congrats! You’ve budgeted carefully and crunched the numbers to get a sense of what you can afford but, before you spend valuable time searching for your perfect dream home, there’s one more crucial step you ought to consider: getting a pre-approval letter.
You probably already know that a mortgage is the loan you need to buy a house when you don’t have several hundred thousand dollars of cash on-hand. You may or may not, however, know that the word “mortgage” originates from the Latin and Old French words for “death pledge.”
The journey toward homeownership is undoubtedly an exciting one, but also one fraught with questions that can send even the most ‘zen’ individual into a tailspin. Of these questions, the first – and perhaps the most crucial – one that you should ask yourself when starting the homebuying journey is: how much home can I actually afford?
You got a mortgage and bought a home. Between keeping the yard mowed, setting up smart home devices, maintaining gutters and all the other responsibilities that come with being a homeowner, refinancing may have never crossed your mind. Is it the right move for you? Let’s discuss.
We know that navigating your way around the homebuying process can be daunting, especially as a first-time homebuyer. That’s why we’ve put together this A-Z of key terms that you may encounter as you embark upon this process – and remember, if you still find yourself stumped, you can feel free to get in touch with Simplist’s expert loan officers.
Mortgages were created in the 1700’s and for many people, the process still feels like it is stuck in the past. At Simplist, we’re modernizing the experience for today’s homebuyer and making it delightful from start to finish.