6 Fees to Look Out for When Buying a Home

Mortgages

6 Fees to Look Out for When Buying a Home

6 Fees to Look Out for When Buying a Home

Let’s cut to the chase. Obtaining a mortgage to buy a home, or to refinance one you already own, is not cheap. No two ways about it, acquiring property is going to cost you some bucks. However, knowing ahead of time what fees lenders charge — including both upfront and later in the transaction —… Read More

How to Get Your Finances in Order Before You Buy a Home

Mortgages

How to Get Your Finances in Order Before You Buy a Home

How to Get Your Finances in Order Before You Buy a Home

To successfully buy a home these days, you’ll need patience, resilience to rejection and sound financial planning. You don’t need to earn gobs of money to successfully purchase a home — well, depending on your area. You do, however, need to have enough income left over after your proposed mortgage payment and other financial obligations…. Read More

Is Your Mortgage Going to Hurt Your Credit?

Mortgages

Is Your Mortgage Going to Hurt Your Credit?

Is Your Mortgage Going to Hurt Your Credit?

There’s a misconception that applying for a mortgage causes your credit score to drop each time, but that’s not actually the case. The sole act of having your credit report pulled when submitting a loan application does not instantly cause a reduction in your credit score, but it will impact you eventually. Here’s the deal… Read More

5 Reasons You Can’t Get a Mortgage

Mortgages

5 Reasons You Can’t Get a Mortgage

5 Reasons You Can’t Get a Mortgage

Are you gearing up to refinance or buy a home this year? These five things may stop your mortgage dead in its tracks. Here’s what you need to know to prevent your loan application from being denied. 1. Your Credit Score Is Not What You Think It Is This scenario is all too common. A consumer… Read More

The Tax Deduction That Could Kill Your Homebuying Chances

Mortgages

The Tax Deduction That Could Kill Your Homebuying Chances

The Tax Deduction That Could Kill Your Homebuying Chances

If you’re planning on getting a mortgage, you may want to rethink taking any extra deductions to minimize your tax liability this year. Writing off expenses you incur as a W-2 employee can have lasting negative repercussions on your real income, an anchor component of how lenders determine your creditworthiness. Job-Related Deductions You bring a mortgage company your W-2s and… Read More

4 Annoying Mortgage Hurdles & How to Overcome Them

Mortgages

4 Annoying Mortgage Hurdles & How to Overcome Them

4 Annoying Mortgage Hurdles & How to Overcome Them

Banks want you to believe getting a mortgage these days is easier — and that may be the case if your financial house is in order. However, the reality is that if you want a mortgage in today’s lending environment, you need to prepare to prove your ability to repay and meet every threshold lenders… Read More

Why 5% Mortgage Rates Are Still a Ways Off

Mortgages

Why 5% Mortgage Rates Are Still a Ways Off

Why 5% Mortgage Rates Are Still a Ways Off

Whether you like it or not, mortgage interest rates are a big driver of the housing market. We’ve been spoiled with ultra-low rates the past few years, with many experts predicting that 2014 would be the year of 5% rates. They were wrong. Furthermore, we’re not going to be seeing 5% mortgage rates anytime soon… Read More

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