What To Expect On Mortgage Applications Filling out a mortgage application is one of the first steps toward buying a home. This form has many names like “Fannie Mae Form No. 1003” or “Uniform Residential Loan Application” and it helps the lenders determine if you are a good loan candidate, and if so, how much… Continue reading What To Expect On Mortgage Applications
How Much Do You Need For A Down Payment? Home purchases are oftentimes the most significant and expensive financial transactions that many people make in their lifetime. It’s unsurprising then that saving up for a down payment remains one of the most challenging obstacles for potential homeowners. While a 20% down payment is considered ideal… Continue reading How Much to Save For a Down Payment
Watching Out For Reverse Mortgage Scams What is a reverse mortgage? A reverse mortgage gets its name because it is set up opposite to a traditional mortgage. With a reverse mortgage, the borrower receives home payments rather than making the payments each month. These payments the borrower receives come from the equity they have in… Continue reading Watching Out For Reverse Mortgage Scams
How Will Homeowners Be Affected by the New Tax Code? Ever since the recent tax legislation was passed, many homeowners have wondered how this will affect their federal tax benefits. These changes have been in effect since January of 2018, so the impact for homeowners won’t be seen until their taxes for 2018 are filed… Continue reading How Will Homeowners Be Affected by the New Tax Code?
Choosing a mortgage lender for your home purchase is a major decision in the mortgage process. Many times buyers will choose the lender that their real estate agent happens to recommend, but this doesn’t guarantee the best interest rates, fees, or the loans that will fit their individual scenario. To find the best loan, the… Continue reading INTERVIEWING A MORTGAGE LENDER