Here are some of the best mortgage and financial advice articles from numerous real estate, mortgage and financial experts. Use these tips and advice to make smart financial decisions.
Getting the best rate on your mortgage is a major concern for any home buyer. When you consider that only a few percentage points can cost you thousands over the life of a loan it only makes sense to seek the best mortgage you can get.
How to prepare to get a mortgage is something every buyer should be thinking about well in advance of making a home purchase! One of the things that first time home buyers will often ask me is what they should do first in the home buying process.
The resurgence of real estate markets over the past year has brought about an unusual situation. While interest rates on conventional loans are still unbelievably low, new lending guidelines are making it a bit more difficult to approve a loan.
There has been some confusion among those looking to buy a home and qualify for a mortgage loan regarding the difference between a mortgage pre-approval vs a pre-qualification letter. Indeed, they sound pretty similar, so hearing these terms before or during the hectic time while considering buying a can only add to add to the confusion for novice buyers.
Purchasing a home is both an exciting and somewhat overwhelming experience, especially for first-time buyers. It is not surprising that for most of us, buying a home is likely the largest purchase of our lives. Most buyers save for years before purchasing homes, applying sizable down payments to reduce their monthly mortgage costs.
I recently published an article by Nicholas Brown who works for JustRentToOwn.com and it got me thinking, why do buyers enter into rent to own arrangements, and are they a good idea? Before we delve into the question it would probably help to ensure you know what I'm talking about so I'll briefly explain what Renting to Own actually is...
This post was written by Jake Durtschi, the owner of Jacob Grant Property Management located in Idaho Falls, Idaho. Jake and his team manage over 400 rental properties in east Idaho. He is a successful real estate investor and has been featured on several reputable industry podcasts. Check out his blog.
When you set out to buy a home unless you are paying cash a mortgage should be one of your biggest considerations. The terms and conditions on your loan will go a long way to determining how you will be impacted financially for as long as you keep the mortgage.
If you are like many home owners, there may come a time when you are tempted to miss a payment on your mortgage. You may feel like you have no choice, or you may be in a situation where you feel like you need to pay other bills before the mortgage.
If you are like many home owners, there may come a time when you are tempted to miss a payment on your mortgage. You may feel like you have no choice, or...
There are few situations more exciting than the approach of closing on your new home. You and your family are eagerly awaiting the moment when you can sign the paperwork and take possession of your new residence, a place where you can finally rest easy and enjoy all the benefits of ownership.
My brother-in-law has been thinking of buying a home. We were talking recently and he explained, "My lease is up in March, but I'm not really sure what to do first. What's my first step exactly?" He's not alone. Many prospective home buyers aren't quite sure what they should be doing to get the ball rolling.
When you go to buy a home, if you are like most people you are going to need to get a loan. Because you are borrowing money, you will naturally have to pay a certain amount of interest to the lender. In the article you will learn how to avoid overpaying for a mortgage.
A pre-qualification is a lenders general statement that he will provide financing if certain conditions are met. You will discuss your financial situation with the lender, who then might or might not pull your credit report. Usually you can get pre-qualified via phone and the loan officer will rely on the information you provide.
There are very few people out there with the kind of money it takes to buy a home outright. For most of us a mortgage is a necessity if we ever want to own a home.
Unlike a conventional loan, an FHA mortgage is backed by the federal government. Simply stated, lenders have some protection offered by the government in the event the homeowners stop making payments. With this protection, FHA approved lenders are able to offer mortgages with enticing rates for people that might not qualify for a Fannie Mae or Freddie Mac home loan.
One of the most important steps in buying a home is obtaining pre-approval for a mortgage. To shop effectively, and within your price range, you need to know what that price range is. For most home buyers, the amount they can spend is set by the lender they choose.
One of the things that many homeowners want to know is how to get rid of private mortgage insurance. If you bought a home without making a down payment of 20% or higher, or you refinanced your home with less than 20% equity, private mortgage insurance (PMI) was probably a requirement of owning your home.
If you are just starting your home search and have met with a lender you probably have been informed about private mortgage insurance. For those who are not familiar with the term, private mortgage insurance or PMI for short is required by lenders when a borrower is putting down less than 20 percent.
Do you know how FHA loans can be problematic for home sellers? See a review of how an FHA could be a stumbling block for a home owner.
Birmingham, AL real estate appraiser Tom Horn discusses how an appraisal can help sell a stale listing.
What are the possible expense a home seller will have to pay to complete the sale? See all the most common home selling expenses.
Thanks to the improving luxury housing market, jumbo loans have made a rebound. Inside you will find the top 5 jumbo mortgage myths.
Make sure you understand the 4 important mortgage documents buyers must sign as part of TRID regulations.
What are the pros and cons of a reverse mortgage? See both the advantages and disadvantages of this loan product for seniors.