Once you’re ready to begin the process of buying a home, the first thing you will want to do is get pre-approved. A pre-approval is a letter from your lender that contains a definitive assessment of your purchasing power and outlines the amount you are qualified to borrow along with other important information. It will also give […]
Getting Pre-Approved Read More »
Your credit score is one of the most significant factors considered by mortgage lenders when you apply for a mortgage and can make or break your mortgage application, as a low credit score could result in your application being denied. Even if your credit score is high enough to qualify for a mortgage, you’ll likely
Steps to Improve Your Credit Score Read More »
The first step in the home financing process is getting pre-approved. Once you’ve been pre-approved you’ll have a good idea of how much you can borrow to buy your dream home. During pre-approval, you will be asked to provide employment history, financial information that ideally demonstrates good credit, a stable income, a low debt-to-income ratio, and
Steps to Take if You’ve Had Trouble Getting Pre-Approved Read More »
There are many reasons to refinance your mortgage, from getting a lower rate to taking cash out, while some homeowners may be interested in refinancing for a shorter loan term. This financing strategy can allow homeowners to pay down their mortgage quicker and with a lower interest rate. However, this route may not be for
Refinancing a 30-year Fixed to a 15-year Fixed Read More »
If you’re preparing to buy a new home, you’ve likely already heard all the mortgage jargon terms that lenders tend to throw around and one of the most common terms are traditional and portfolio mortgage loan options. Just from the names, it can be hard to tell what these terms may be referring to, so
Traditional vs. Portfolio Mortgage Loans Read More »
