Tips To Help You Get The Best Home Loan Rates Possible
8 January 2016
Getting a mortgage is a complicated process and it can sometimes feel like a second job. With a myriad of information needed by the lender and a large amount of paperwork that has to be filled out, it can feel overwhelming at times. If you're in the market for a new home but aren't sure you're being offered the best interest rate, here are some tips to help you get the lowest rate and overall monthly mortgage cost possible.
Home Refinancing: Four Smart Reasons To Take Out A Second Mortgage
20 November 2015
If you are strapped for cash, you might be thinking about refinancing your home and obtaining a second mortgage. As the name suggests, a second mortgage uses the equity in your home to provide you with extra cash. Like a traditional mortgage, the bank uses your home as collateral and if you don't make your payments, the bank can take your home from you.
While a second mortgage might sound like the perfect opportunity to get some extra money, it's not ideal for every situation.
How An HOA Can Affect Your Mortgage
19 October 2015
If you recently made an offer on a home within a community that has a homeowners association (HOA), you should not be surprised if your lender starts asking questions about the HOA. This is a completely normal part of the underwriting process, and lenders do this for protection. One of the main questions your lender may ask involves the percentage of occupied units. If this number is not right, it could affect your ability to get a loan for this particular house.
Three Things To Know About Home Loans
8 September 2015
Many people think that getting approved for a home loan is overly difficult to do. That is not necessarily the case at all. Many lenders are approving loans to new homebuyers because it helps the economy grow. The following guide walks you through a few things you should know about applying for a home loan.
Not All of the Down Payment Is Needed in Order to Apply for a Home Loan