One of the most stressful parts of shopping for a mortgage is the uncertainty of it all. In 2013, about 14% of all home purchase applications and 23% of refinance applications were denied. It’s not exactly a rare occurrence, and it’s never fun to a get a “no” from a lender, but it’s definitely not … Continued
Short Sales If you’re shopping for a home, you’ve probably come across properties listed as “foreclosures” or “short sales.” What do these terms mean? What are the pros and cons? In this post, we’ll get into short sales – what they are, and what they mean for the people involved in them. Also remember to … Continued
Part 1: Foreclosures If you’re shopping for a home, you’ve probably come across properties listed as “foreclosures” or “short sales.” What do these terms mean? What are pros and cons? In this post, we’ll get into foreclosures – what they are, and what they mean for the people involved in them. We’ll check out short … Continued
Navigating the complex world of home loans can be difficult enough without all of the industry jargon that flies around. Here are 25 terms you might hear when looking for a mortgage loan – hopefully this will help clear things up. Adjustable-Rate Mortgage (ARM) A mortgage loan with an interest rate subject to periodic change … Continued
Of the special loan programs that exist, one of the most advantageous is the VA Home Loan. Created in 1944 and signed into law by President Franklin D. Roosevelt, the VA home loan program was, in short, designed to honor our veterans by helping them buy or refinance a home. Eligible active service members, veterans, … Continued
Refinancing, simply put, is paying off and replacing your current loan with a brand new loan to get better terms. What exactly those “better terms” are can be heavily influenced by your unique financial situation. The general goal for most of those refinancing is to save money, whether it be reducing how much you pay … Continued
You’re on a mission to achieve your home financing goals. Maybe you’re looking to buy your first home or you’ve been a homeowner for some years now and are looking to refinance your mortgage. Your parents advised you to talk to your bank. A friend gave you a referral to a mortgage broker, but you’ve … Continued
Shopping for the best price can be a pain in the neck. Life is busy, and there isn’t always time to carefully compare every product and get the best deal, and for the typical grocery store purchase, the amount of money you might save isn’t worth the amount of time you lose. When it comes … Continued
Find your Cinderella In Cinderella, not just anyone could slip their foot into the missing glass slipper, although the evil stepsisters tried. It’s the same thing with real estate agents, find one that fits you perfectly – one that specializes in homes in your price range, and that you feel listens to your needs and … Continued
In your search for a home you’ve probably come across a couple of terms: “Fixed Rate Mortgage (FRM)” and “Adjustable Rate Mortgage (ARM).” What exactly are they, what’s the difference, and which one should you get? “Fixed” and “adjustable” both refer to the type of interest rate on your loan. There are advantages and disadvantages … Continued