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. They are both actions a lender takes to determine how much money is appropriate to lend you. The difference lies in how closely your finances are examined to determine that figure.    Key Takeaways   A […]

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 […]

11 Mortgage Terms Homebuyers Should Know

Every industry has insider jargon. While homebuyers don’t necessarily need to understand every term used in the mortgage industry, there are some words, concepts, and phrases you will benefit from understanding.   Key Takeaways Unless you work in the industry, you probably won’t know the meaning of every word you hear. If you don’t understand […]

How To Prepare For Your Mortgage Application

Taking out a mortgage to buy a home is the largest financial decision most people will ever undertake, so it’s wise to spend some time fully understanding how your current financial situation may impact your future mortgage options. The more time you give yourself to prepare before you’re ready to apply, the better off you’ll […]

Actions To Take (and Ones to Avoid) During The Mortgage Process

Homebuyers may not realize it, but there’s still important work to do after they’ve submitted their mortgage application. That work is to maintain the financial picture provided in their application until a decision has been made. If lenders see changes to an applicant’s finances after they apply, no matter how small the change may seem, […]

Top 10 Ways to Improve Your Credit Score

There are steps you can take right now that may boost your credit score, which can make it easier to rent an apartment, buy a house, or get a loan. One of the best things you can do for your financial health is build a strong credit score, which is sometimes referred to as VantageScore […]

8 Ways to Save For a Down Payment

Coming up with the funds for a down payment on a new home may seem overwhelming at first, but it is possible by developing a solid plan and sticking with it. It’s not an insurmountable task to save for the down payment on a new house. With patience, diligence, and discipline, you can come up […]

What is a rate lock?

A mortgage rate lock provides predictability when buying a home, ensuring the loan interest rate stays the same throughout the purchase process. It takes time to buy a house. From initial loan approval to final closing, several weeks may pass, and during that time interest rates can rise or fall. A mortgage rate lock does […]