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?