What’s the Difference Between an FHA and Conventional Appraisal?
In all cases in which a mortgage loan is used to purchase a home, a lender will require an appraisal of the home. Appraisals are used by lenders to determine a property’s value and to help protect the lender’s investment as well as that of the homebuyer. Home appraisals differ based on the type of […]
Selling Your Home: 4 Ways to Appeal to Millennial Buyers
If you’re selling your home and want it to sell quickly and for top-dollar (doesn’t everyone?), you need to prepare your home to appeal to the widest group of homebuyers. The 2020 Housing Market Prediction project Millennials to account for over 50% of the mortgages in 2021. This generation has been shaping the market the […]
Why Location Matters & How to Scout Out the Best Spot When Buying Your First Home
“Location, location, location” wouldn’t be the catchphrase of the real estate industry if it weren’t true. It happens to be right: You can change a home, but you cannot change its location. Here’s why location matters when it comes to buying a home, and here’s how to scout out the best neighborhood in which to […]
8 Ways You Could Be Damaging Your Credit Score
Credit score is a big component in personal finances. As society becomes more dependent on the use of credit cards, your credit score becomes more important than ever. Fifty-eight percent of future homebuyers say they are actively trying to improve their credit, according to a Wells Fargo study.
Mortgage Rates: The Who, What, When and Why of How They’re Determined
If you’re a homebuyer seeking a mortgage, mortgage rates will have a major impact on when you decide to buy and which lender you choose for financing your purchase. Your mortgage rate (in other words, the interest rate) affects not only the amount of interest you will pay over the life of the loan; it […]
Mortgage Goals: How Much Equity Will You Gain from Owning a Home?
As it relates to your home, equity can be defined as the difference between what you owe on your mortgage and the fair market value of your home. The possibility of growth in equity—and the accompanying growth in your own personal wealth—is one of the enormous benefits of becoming a homeowner. You gain equity simply […]
Mortgage 101: How Are Mortgage Rates Determined?
A big part of when you decide to buy and which lender you choose to finance with will likely depend on how mortgage rates are doing. Your mortgage rate not only affects the amount of interest you will pay over the life of your mortgage, but it can also influence the amount you are approved […]
Mortgage Goals: How to Build Home Equity
Home equity is arguably one of the biggest perks of being a homeowner. It is an asset and part of your total net worth. You can use it to pay off other debts, fund your retirement, pay for a child’s education or wedding, or use it to purchase your next home. However you plan to […]
Mortgage 101: How to Improve Your Credit Score
If you have applied for any type of loan in the past, you know that your credit score determines a large part of your eligibility for approval. Lenders use your credit score as a numerical indication of your financial responsibility. Your credit score can determine your interest rate, the amount you are approved to borrow, […]
What Factors Affect Your Credit Score
Your credit score is a number lenders use to determine the risk of lending to you. Credit card companies, auto dealerships and mortgage bankers are a few of the type of institutions that will assess your credit score before deciding if and how much they are willing to lend you and at what interest rate. […]