Are you in the market for a new house or condo? If you are financing the purchase by taking out a mortgage, you'll want to know how to make this transaction run as smooth as possible. In today's article, we'll share a quick four-step guide to speeding up the mortgage closing process.
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Step #1: Check In On Your Credit Score
The first step before applying for your mortgage is to check in on your credit. Request a copy of your credit score and history from one of the major reporting firms. Go over this report, paying close … [Read More...]
If you're a homeowner with children, at some point, you'll be saying goodbye. They'll move off to college or to start their career and adult life. As children move out, you'll discover that you have extra bedrooms and other living spaces that will need a new purpose. Let's take a look at three ways that you can transform an unused bedroom into a welcoming place for guests to stay.
Get Started With A Deep Clean
The first thing you'll want to do is engage in a top-to-bottom deep clean of the room. Get everything out of the room so that nothing's left but the carpet. Clean the walls, … [Read More...]
Whether you are just starting to shop for a new home or you've been paying off your mortgage for years, the news of potential interest rate increases may be worrying. Of course, interest rates naturally cycle higher and lower over time, so is there anything to be genuinely concerned about? In today's article, we'll explore interest rates and how you can prepare for an upward trend in rates if and when the time comes.
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Speak With Your Mortgage Advisor First
If you already have a mortgage, the first step would be to speak … [Read More...]
Last week's economic news was slim due to the Labor Day Holiday. Scheduled releases included the Fed's Beige Book Report and weekly readings on mortgage rates and new jobless claims. Beige Book Cites Concerns Over U.S. Auto Industry Federal Reserve Board members shared anecdotes from their respective regions; of note were concerns about U.S. automakers. Auto production was more than 16 percent lower year-over-year in Cleveland, Ohio. Fed business contacts said that automakers are no longer seeking buildings for expanding production. Analysts said that slowing auto production and sales … [Read More...]
Have you been considering buying a house or refinancing the mortgage on your current home? As with any loan or financial product, there are a variety of fees and costs you may incur in the process of closing your mortgage. In today's post, we'll explore a few of these potential fees and the situations in which you may encounter them. Let's get started!
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Title Insurance Costs
You're almost certainly going to incur title insurance fees. It's required when obtaining mortgage financing to buy or refi. This is a third … [Read More...]
Are you in the market for a new home? If you are going to rely on mortgage financing to cover some of the purchase cost, you will need to start the application process as soon as possible. However, what if you just need to know how much you will be able to borrow so you can start finding homes in your price range?
Let's take a quick look at the difference between being 'prequalified' and 'preapproved' for mortgage financing.
Get pre-qualified here to find out how much you qualify for.
The Process Starts With Prequalification
The first step in obtaining mortgage financing is to … [Read More...]