Shopping for a mortgage is the first step toward owning a home and perhaps the most daunting, especially if you are not prepared. Once a simple task that meant comparing fixed rates from among perhaps a dozen or fewer savings and loan companies, the mortgage hunt today is like finding your way through a maze since there are dozens of loan types and hundreds of loan programs available through mortgage...
Buying
Even though most people are rarely part of a real estate transaction, everyone believes they are an expert. And while there's a prevailing belief that buying without a real estate agent will save you money, the truth is you're almost always better off working with a pro. Buying or selling a house is not something most of us do every day. You may do it once a decade, or even once in a lifetime. Despite the...
When real estate sales are slow and there is a glut of homes for sale, buyers may have an opportunity to pick up a house on the cheap. The operative word here is "opportunity". There are times when you should pounce and times when you should show restraint and avoid an impulse buy. Knowing the difference could save you thousands of dollars. In this article, we will give you five tips to follow if you have...
Before you apply for a mortgage, you need to know your: Current monthly income; Current monthly expenditure; Desired monthly mortgage payment; Anticipated sale price or home value; Anticipated down payment amount. This information makes it much easier to figure out how much you can borrow and how much house you can afford. Obtaining a Loan Whether you are seeking pre-approval or have agreed on a purchase...