3 Things You Absolutely Need for a Mortgage

Mortgages

3 Things You Absolutely Need for a Mortgage

3 Things You Absolutely Need for a Mortgage

If you’ve never bought a home before or it has been many years since your last mortgage transaction, you may want to freshen up on the basics before you head to the bank. To get you started, we’re going to go over three of the main things lenders look for when reviewing your mortgage application. 1.... Read More

How Much Can I Refinance My House For?

Mortgages

How Much Can I Refinance My House For?

How Much Can I Refinance My House For?

Refinancing can shave years off your loan and help you pay off your home faster. When you refinance your home, your loan amount can be whatever you choose it to be. It can be a lower amount than what you currently owe on your home, which would require bringing in cash to close escrow. Or it... Read More

3 Things to Never Do With Your Down Payment

Mortgages

3 Things to Never Do With Your Down Payment

3 Things to Never Do With Your Down Payment

Buying a home generally requires a down payment. While there are programs which require no money down, most have more restrictive income requirements. For the purposes of the broader appeal, most homebuyers need at least a 3.5% down payment (plus closing costs) to get their foot in the door. In some markets, such as Sonoma... Read More

5 Signs You’re Not Ready for a Mortgage

Mortgages

5 Signs You’re Not Ready for a Mortgage

5 Signs You’re Not Ready for a Mortgage

Buying a home is still cheaper than renting in nearly every major U.S. market. That’s one of a few key trends that have mortgage lenders expecting big things in 2016. Nearly two-thirds of industry professionals think purchase loan volume will rise this year, according to a recent survey from trade group Lenders One. Bullish outlook... Read More

6 Painless Ways to Shave Years Off Your Mortgage

Mortgages

6 Painless Ways to Shave Years Off Your Mortgage

6 Painless Ways to Shave Years Off Your Mortgage

Chances are your home mortgage is the largest debt you’ll ever have. How would you like to pay it off and run your mortgage contract through the shredder a lot faster than the 30 years for which most homeowners sign up? Let’s consider some ways to painlessly pay off your home loan sooner. You can choose to do it a little faster... Read More

How to Buy a House When You Have Too Much Debt

Mortgages

How to Buy a House When You Have Too Much Debt

How to Buy a House When You Have Too Much Debt

When you fill out a mortgage application, lenders look for income to offset debt. If your monthly debt payments consume too much of your income, you may have a tough time qualifying for a home loan. Underwriting, which is the decision-making of whether or not to grant credit, determines what your income is with supporting documentation... Read More

9 Golden Rules for Getting the Best Mortgage You Can

Mortgages

9 Golden Rules for Getting the Best Mortgage You Can

9 Golden Rules for Getting the Best Mortgage You Can

Interest rates are still near historic lows — which cannot last forever. Meanwhile, as the cost of rental homes pushes into the stratosphere, in many markets it’s worth considering whether it’s time to get into the housing market instead of renting. 1. Check Your Credit Reports Your first move – long before you start home shopping – is to find... Read More

10 Ways to Come Up With a Down Payment

Mortgages

10 Ways to Come Up With a Down Payment

10 Ways to Come Up With a Down Payment

If a home purchase is in your future, now is the time to start saving for the down payment. Why get going now? Because it could take a while to save up the 20% for a down payment. Of course, you can buy a home with less than 20% down. The Federal Housing Administration has lowered down-payment requirements for mortgages it... Read More

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