09 Oct 2020
By Mortgage Blog Content

Understanding Title Insurance and How It Impacts Your Mortgage Loan

Mortgage Tips
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 Lender There are certain situations in which someone might put a lien on your property. New owners might see liens if the…
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23 Sep 2020
By Mortgage Blog Content

A Step-by-Step Guide to Preparing Your Finances for the Mortgage Pre-Approval Process

Home Mortgage Tips
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 questions about their financial history and status. Pre-approval is way more valuable to a borrower than pre-qualification because it is a commitment from a lender for a decided…
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15 Sep 2020
By Mortgage Blog Content

Speeding Up the Close: Five Tips on How to Close Your Mortgage Loan Faster So You Can Start Moving In

Home Mortgage Tips
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 until you find the funds to pay those costs - and this could delay the…
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15 Sep 2020
By Mortgage Blog Content

Speeding Up the Close: Five Tips on How to Close Your Mortgage Loan Faster So You Can Start Moving In

Home Mortgage Tips
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 until you find the funds to pay those costs - and this could delay the…
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27 Aug 2020
By Mortgage Blog Content

Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

Home Mortgage Tips
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to pulling equity out of your home. If you need access to…
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30 Jun 2020
By Mortgage Blog Content

A Breakdown – The Difference Between FHA, VA and USDA Mortgages

Home Mortgage Tips
Are you thinking about using mortgage financing to buy a new home? If so, you've likely heard about mortgage insurance policies requirements and you may be wondering how they will affect you. In today's blog post we'll explore mortgage insurance and explain the difference between conventional, FHA, VA and USDA mortgage insurance policies. How Does Private Mortgage Insurance or "PMI" Work? While there are a number of reasons that your lender may require mortgage insurance, in general you'll be required to purchase a conventional PMI policy if you are putting less than 20 percent of the home's value in as a down payment. Another way your lender might explain this is…
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