March 2021 Archives

23 Mar 2021

Approved With Conditions: What Does It Mean?

Mortgage

Applying for a home loan might not be the most exciting part of purchasing a home; however, many homeowners need to go through a lender to purchase a home. It is exciting to hear that the approval letter has gone through; however, it is also possible for someone to see that they have been approved with conditions. What does this mean? What are some of the most common reasons why someone might have conditions? It Could Just Be Standard Procedure Sometimes, people see that they have conditions to meet as a simple part of the approval process. For example, someone might be missing standard paperwork. It is the job of the…

22 Mar 2021

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – March 22, 2021

Financial Reports

Last week’s economic reports included readings from the National Association of Home Builders on housing markets and Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Slips as Materials Costs Rise The National Association of Home Builders reported that its Housing Market Index fell to an index reading of 82 in March as compared to February’s index reading of 84. Analysts forecasted a reading of 83. Builder concerns included rising materials costs and mortgage rates, which impact home pricing and affordability. Robert Dietz, Chief Economist for NAHB, said that lumber prices have more than doubled since…

19 Mar 2021

By Mortgage Blog Content

Moving Can Lead To A Major Emotional Lift

Mortgage

This past year has been stressful for everyone involved. A lot of people have had to spend more time in their house than they ever have in the past. When this is combined with trying to conduct work and school from home, it is easy to see why people are so eager to get out of their house. Even though a lot of people are spending more time outside, it might be better to consider moving entirely. The reality is that a lot of people are currently associating their home with a lot of bad memories. Therefore, moving may be a smart idea. What should people consider when moving? Think About…

18 Mar 2021

By Mortgage Blog Content

The Top Seasonal DIY Home Improvement Projects

Mortgage Tips

There are many people who are spending more time at home these days. As a result, it is important for everyone to take steps to try to improve their quality of life at home. This means seasonal home improvement projects. With the weather nice outside, it is a great idea for everyone to think about how they can get ready for the next season. Therefore, there are a few top seasonal Home Improvement projects everyone should keep in mind. One of the first projects that everyone should work on has to do with their HVAC unit. Right now, people probably are not running their HVAC unit much right now. Therefore, this…

17 Mar 2021

By Mortgage Blog Content

Interesting Facts To Know About Mortgages

Mortgage

Many people have heard that there are a lot of changes taking place in the real estate market right now. As a result, a lot of people are thinking about purchasing a new home or refinancing an existing mortgage. When looking at a mortgage, many people focus on the interest rate, the term of the loan, and the size of the loan. Even though these are all important factors to consider, it might be helpful to take a look at a few fun facts about mortgages as well. Where Did The Word Come From? When people take out a student loan, a car loan, or a personal loan, that is exactly…

16 Mar 2021

By Mortgage Blog Content

Understanding The Difference Between A Co-Borrower And A Co-Signer: What Do They Mean?

Mortgage Application

There is a lot of jargon that comes with purchasing a home. Even though this could be confusing, purchasing a home is also a significant decision. Therefore, it is critical for everyone to understand exactly what they are signing before they scribbled their name on the dotted line. In some cases, a co-borrower or a co-signer (also called a non-occupying co-borrower) could be needed to strengthen the application. What is the difference between these two terms? What Is A Co-Borrower? First, a co-borrower is simply a co-owner. Both names are on the title of the home. The co-borrower also shares the responsibility of the debt. This arrangement is usually used when…