Mortgage rates are still historically low! Now is a great time to buy!
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5 Ways To Lower Your Mortgage Payment
Get rid of your PMI: PMI is the lender’s protection in case you default on your loan and cannot make your payments. Typically borrowers that can’t put down at least 20% are required to have PMI since they are seen as a riskier investment. If you live in an area
Continue readingApplying For A Mortgage-6 Questions You Need Answers To
Applying For A Mortgage What’s your annual income? Be sure to include any money earned from bonuses and investments as well. What is your credit score? Before applying for a mortgage, it’s important to have an idea of what your score is. Not only is it imperative to know your score,
Continue reading4 Things To Stop Doing As Soon As You’re Preapproved
Once you are preapproved you can still lose your loan. The buying of your home is something you do not want to jeopardize. Your lender is looking closely at certain numbers, check out these 4 tips to make sure your loan goes through! Don’t use your credit cards past 30% of your available
Continue readingShould You Refinance?
Benefits of refinancing Paying off your mortgage early: For example, if you go from a 30 year loan to a 15 year loan without a big increase in your monthly payment, you could save thousands of dollars in interest while quickly increasing the equity in your home. Increase cash flow: Obtaining a
Continue readingThings To Know Before Getting Your First Mortgage
Before getting your first mortgage, there are some things that would help to make sure the process runs smoothly. Taking steps beforehand can ensure that when you are ready for your first mortgage, your finances will be in order also. Meet with a mortgage officer before looking at homes: Meeting with
Continue readingGetting A Mortgage After A Divorce
You may want to take your name or your ex’s name off the mortgage: If you’d like to buy a home and your ex is living in the home you co-own, then your ex should try to refinance in his or her name. Doing this will decrease the debt in your
Continue readingWhat Do You Need To Apply For A Mortgage?
Full tax returns from the past two years. You can request copies by filling out the form “Request for Copy or Transcript of Tax Form” from the IRS. Two most recent pay stubs from your employer. If you haven’t saved them, you can request them from the human resources
Continue reading3 Annoying Mortgage Hurdles And How To Get Over Them
High debt ratio: Even if you have a stellar credit score and lot’s of money in the bank, a high debt ratio is a problem when trying to get a mortgage. If your housing payments and your credit obligations are greater than 45% of your monthly income, it will be
Continue readingHome Equity Loans
Freedigitalphotos.net After home equity loans became nearly non-existent due to the market conditions, they are slowly making their way back. Here are 4 quick things to know about these loans: Equity is a must: You must have at least 20% equity in your home before you can qualify
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