If you're in the market for a new home and you've been researching mortgages, you've likely come across the terms "pre-qualification" and "pre-approval". While these terms are self-explanatory in some circumstances, they are quite different in regards to mortgage financing. In today's blog post we'll explain the difference between a mortgage pre-qualification and a pre-approval. Pre-qualification: an Initial Look at Your Mortgage Options The first – and easiest – step on the way to … [Read more...]

Are you thinking about buying a new house or condo? If so, you've likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home. Below we'll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment. Make A Large Down Payment On Your Home The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you'll be … [Read more...]

When you buy a home, you will be given a title to your new property. A title is a legal document that proves you own the property, and in most cases the title excludes other parties from making an ownership claim. However, not all titles give you free and clear ownership of the property. Title insurance protects you and your lender from title disputes and other ownership issues that may arise. Here are just a few ways that title insurance can impact your mortgage. How Title Insurance Protects A … [Read more...]

Being pre-approved for a mortgage isn't just a way to get a step ahead, in many cases it's a necessity to buying a home. Many sellers don't want to go through the negotiation process of selling their home only to have the buyer drop out when they can't get approval for the mortgage they were relying on. The Difference Between Pre-Qualification And Pre-Approval Pre-qualification is a faster process than pre-approval and is usually a best estimate based on how the borrower answers certain … [Read more...]

When a seller accepts an offer from a buyer, the process of obtaining the property has just begun. The buyer now has to conduct an inspection, get approval from an attorney and obtain a mortgage - all of which can be time consuming. Here are a few ways that you can speed up the mortgage process and close the deal sooner. Make Sure That You Have Money For Closing Costs Do you have the money needed for a down payment and to pay other closing and prepaid costs? If not, you won't be able to close … [Read more...]