Mortgage

refinance a mortgage

How To Refinance a Mortgage in 4 Simple Steps

Why You Should Refinance Your Mortgage Need to refinance a mortgage? Refinancing is an important tool for the savvy homeowner, as it can offer a host of benefits. Unfortunately, research shows many view the process as confusing and choose to put off looking into it. Although refinancing does require several steps, it doesn’t have to be ... More
How Rent to Own Works

How Rent to Own Works When You Don’t Qualify for a Mortgage

Are you hoping to buy a home even though your credit doesn’t qualify you for a traditional mortgage loan? If so, you may want to consider a rent-to-own arrangement. Here's how rent to own works Renting-to-own allows a prospective buyer to live in a home and pay rent during a lease term, after which time the renter has the exclusive first ... More

Everything You Need To Know About Private Mortgage Insurance

One thing is certain in the home purchase process – plenty of fees and payments to put a dent in your budget. One of the most common fees is Private Mortgage Insurance, commonly called PMI, and it catches many buyers unawares. If you’re a buyer taking out a conventional mortgage loan and making a down payment of less than 20 percent of ... More

Understanding the Term ‘Jumbo Mortgage’

If you’re like most prospective home buyers, you’ll likely apply for a common mortgage loan called a conforming loan. Though the Federal Housing Finance Agency establishes limits on conforming loans, borrowers may still exceed conforming loan amounts in particular cases. When this occurs, the mortgage instrument is called a jumbo mortga... More
underwater mortgage

Underwater Mortgage? Here’s Your 3 Best Options

The term “underwater mortgage” means you owe more on your home than what you could sell it for in present market conditions. The situation can seem hopeless – pouring money into a property that will not yield a financial benefit, and which could actually damage your finances instead. However, consumers who find themselves in this ... More

Plan Ahead To Get Approved For A Mortgage Loan

Even if a home purchase isn’t in your immediate future, it pays to start thinking about what it takes to get approved for a mortgage. If you know you’d like to become a homeowner in the future, the following tips will help you avoid bumps in the road when you’re ready to take the plunge: Limit credit card debt In this day and age, ... More
shopping for a mortgage

Getting The Best Rates when Shopping for a Mortgage

Navigating the process of buying a home can be confusing, especially for first-time buyers. That’s why so many consumers go straight to a familiar lender, like their local bank, for a mortgage loan. Although that can simplify the process, it will rarely yield the best loan option. For optimal results, consumers should go “mortgage ... More

Everything You Need To Know About Mortgage Prequalification

Too many prospective buyers fall into the trap of forgetting to consider extra costs – like property taxes and homeowners insurance – when looking to purchase a home. For this reason, it’s a worthwhile effort to invest time in getting a mortgage prequalification from a reputable lender. A mortgage prequalification isn’t the same ... More
refinancing a mortgage

3 Reasons Why Refinancing a Mortgage is Necessary

Refinancing a mortgage loan can be quite an undertaking, as the process is very similar to purchasing a new home. For this reason and others, many homeowners are hesitant. However, there are times when a re-finance is the best financial move you can make, including the following two common scenarios: 1. You’re stuck with undesirable loan ... More
PMI

What Private Mortgage Insurance (PMI) Is & How Much It Costs

When you’re planning to purchase a home, there are plenty of fees and monthly payments that affect your budget. One common fee is Private Mortgage Insurance, or PMI, and it catches many buyers unaware. How Private Mortgage Insurance is Determined If you’re a buyer taking out a conventional mortgage loan, be aware of your down payment. A ... More