by lizlaurenb | Jun 9, 2023 | Mortgage
Obtaining a pre-approval for a mortgage is an important step when you’re planning to buy a home. It gives you an idea of how much you can afford, helps streamline the home-buying process, and strengthens your position as a serious buyer. However, many people...
by lizlaurenb | Jun 8, 2023 | Home Buyer Tips
One of the stresses of moving to a new area is giving up the familiarity that you have with your old neighbors and starting from scratch. Whether you’ve just moved to a different locale or you’re planning to relocate in the near future, there are some easy...
by lizlaurenb | Jun 7, 2023 | Mortgage
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing....
by lizlaurenb | Jun 6, 2023 | Mortgage
It is not uncommon for renters to pay more in rent than their landlord’s mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than...
by lizlaurenb | Jun 2, 2023 | Financial Reports
March readings for the S&P Case-Shiller National Home Price Index showed that month-to-month home prices rose by 0.40 percent in March. The 20-City Home Price Index, which is considered a benchmark indicator by U.S. real estate professionals, rose by 0.50 percent...
by lizlaurenb | Jun 1, 2023 | Mortgage
When you apply for a new mortgage, the lender will evaluate your creditworthiness to determine whether to approve your application and what terms and interest rate to offer you. Your existing debt can affect your creditworthiness in several ways: Debt-to-income ratio...
by lizlaurenb | May 31, 2023 | Mortgage
Mortgage points, also known as discount points or origination points, are fees paid by borrowers at closing to reduce the interest rate on their mortgage loan. Each point typically costs 1% of the total loan amount and can lower the interest rate by anywhere from...
by lizlaurenb | May 30, 2023 | Financial Reports
Last week’s economic news included readings on new and pending home sales and inflation. The final monthly reading for May consumer sentiment was released along with weekly readings on mortgage rates and jobless claims. Shortage of previously-owned homes for...
by lizlaurenb | May 26, 2023 | Mortgage
Home loans are available in an assortment of lending packages, but the big difference that consumers need to pay attention to at a minimum is how the interest charge is calculated. Interest is the margin that represents the profit and risk offset for a lender...
by lizlaurenb | May 25, 2023 | Mortgage
A reverse mortgage and a home equity conversion mortgage (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two. A reverse mortgage is a type...
