How Much Home Can You Afford?
When trying to figure out how much home you can afford, there are a lot of factors to consider. This article will walk you through some things to think about before you start shopping for your next home. Key Takeaways Your debt-to-income and housing expense ratios are key factors in determining how much money […]
The Difference Between a Prequalification and a Preapproval
If you’re shopping for a mortgage, you’ve likely heard the terms “prequalification” and “preapproval”, and are wondering how they differ. Many lenders use these terms interchangeably, but they are not the same thing. They are both actions a lender takes to determine how much money is appropriate to lend you. The difference lies in how […]
Stages of the Mortgage Process
This article explains the five primary stages of the mortgage loan process. There may be steps in addition to what’s covered here, but in general this article will let you know what to expect. Key Takeaways It’s a good idea to do a self-evaluation of your finances before applying for a mortgage. Your information […]
What a Lender Looks for During an Appraisal
Whether you’re buying, refinancing or selling a home, one unavoidable step in the process is a home appraisal. While there’s not much you can do to prepare for one, you can go into it knowing exactly what a lender is looking for and why it’s happening. What is a home appraisal? A real estate […]
Cash-Out Refinance 101
Are you interested in making a home upgrade or consolidating debt? A cash-out refinance may be a good option to fund your financial goals while making your equity work for you. What is a cash-out refinance? A cash-out refinance is a loan on a property you already own that helps you use some of […]
3 Tips for First-Time Homebuyers
With the internet at the tips of our fingers almost at all times, we are just taps away from anything and everything we could ever want to know. While that’s usually an advantage, the web can offer up conflicting and confusing information…especially when it comes to buying your first home. That’s why we’ve put […]