3 Tips For Getting Approved For A Mortgage
11 February 2016
If you're like many Americans, you probably do not have enough cash on hand to purchase a home outright so you will need a mortgage loan in order to buy a house. Applying for a mortgage from a mortgage company may seem intimidating, but being educated on the process and knowing what to expect can increase the likelihood of your mortgage application being approved. If you're planning on buying a house soon, use the following tips when going through the mortgage application process:
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.