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What are Mortgage Points? Mortgage points are fees paid in conjunction with getting a mortgage loan. Each mortgage point is equal to one percent of the mortgage loan amount. As an example, if you take a mortgage loan of $250,000,…
Answering Your Top Mortgage Questions Are you preparing to embark on the journey of homeownership? If so, you likely have numerous questions about mortgages and the mortgage process. Understanding the intricacies of mortgage financing can greatly influence your decision-making process…
The Best Current Home Loan Types Most people need financing to buy a home. Even with a large down payment, you’ll need a loan to make up the rest. Fortunately, you have many options. Mortgage guidelines have loosened up in…
What is a Construction Home Loan? A construction home loan, also known as a construction loan, is designed specifically for financing the construction or renovation of a residential property. Unlike a traditional mortgage, which provides long-term financing, a construction home…
How to Prepare to Buy Your First Home? Buying your first home is exciting and overwhelming all at once. Before you get in over your head, use these simple tips to best prepare you for one of the largest investments…
How often do closings fall through? Closing on a new home is an exciting time, but it can also be stressful, especially if there is a possibility that the closing might fall through. Unfortunately, there are many reasons why…
PMI – What is it and How Does it Work? By now you’ve likely heard complaints or frustrations over PMI (Private Mortgage Insurance) and do whatever you can to avoid it. What if it’s not as bad as you think,…
How Long Does It Take to Close on a Home? The journey of buying a home can be a thrilling, yet sometimes complex process. One of the most critical stages is the closing, which marks the official transfer of ownership…
What is a Mortgage Rate Lock? A mortgage rate lock is a way of booking or protecting your loan interest rate against fluctuations for a given period, usually 10 to 60 days. In other words, you strike a deal with…
How a Temporary Interest Rate Buydown Can Make a New Home More Affordable Mortgage interest rates are at a twenty-year high. Combine that with the recent run-up in home prices and the result is that many would-be home buyers have…
