Purchasing a home is perhaps one of the most exciting times in your life, but it can also be a time that is full of stress as well. It truly depends upon your perspective, and the type of assistance that you are able to get along the way. For many people, being a first-time homebuyer …
Continue reading “California Tax Credit for first time homebuyers”
The purchase of a new home represents one of the largest purchases that you will likely ever make in your lifetime. The process can be rather straightforward, but thereare also likely many questions that you may have about how you get from point A to point B. Many of those questions are going to revolve around …
When we purchase a home, many of us do it with the thought that we will never move. Circumstances can change, and it may become necessary to switch to a new home, even if we have been in our existing home many years. In fact, the average buyer is expected to stay in their home …
There are many reasons why you may be considering making a move into a new home. In many cases, however, it involves changes in our lives, from a new or changed job to the children moving out of the house. In any case, it is now time for you to make a move and you …
Continue reading “Benefits of downsizing for your next home”
People may move into a new home for a variety of different reasons. Often, the need to change according to new circumstances is at the heart of the decision. Perhaps you have a new job and need to relocate, or you may have a growing family. Regardless of why you need to move, there is …
Continue reading “Downsizing VS. Upsizing your next home
– know what’s right for you”
When most people buy a home, it is one of the most exciting times of their life. It can also be confusing and even frustrating, especially when it comes to knowing what type of loan you need. Since the home represents the largest and longest investment most of us will make in our lifetime, it’s …
A lock-in, also called a rate-lock or rate commitment, is a lender’s promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed. Depending upon the lender, you may be able to lock in the interest rate and number …
Ever wonder why you can go online and be approved for a credit card within 60 seconds? Or get pre-qualified for a car without anyone even asking you how much money you make? Or why you get one interest rate on your home loan, while your neighbor getsanother? The answer has to do with your …
While the lender has the greatest role in how fast your loan application is processed, there are certain things you can do to speed up its approval. Try to find out what documentation the lender will require from you.
Interest rates, and the fees required to obtain that rate from a given lender can be confusing especially when comparing one lender to another. In order to reduce this confusion, lenders are required to provide borrowers with a document called a TIL or Truth in Lending statement. This document lists the interest rate and fees …
Which is the better loan option for you: fixed or adjustable? The low initial cost of adjustable-rate mortgages (ARMs) can be very tempting to home buyers, yet they carry a great deal of uncertainty. Fixed-rate mortgages offer rate and payment security, but they can be more expensive. Continue Reading
It is important to work out the details of your home loan with your Loan Officer, who can review your situation and tailor a loan program and maximum purchase price at which you, the borrower are comfortable, and which the Loan Officer can obtain approval for on your behalf. Many potential borrowers make the mistake …
Continue reading “Difference between Pre-Qualification and
Pre-Approval for a Home Loan”
The interest rate you’ll pay for the money you borrow will be determined, in large part, by this three-digit credit score that’s generated from the information in your credit report. Most mortgage lenders have corporate overlays that define which borrower obtain the best credit available, and those rules almost always place a major emphasis on …
