How do I know a Refinance is right for me?
If you want to reduce your interest rate, lower your monthly payment, turn some of your equity into cash in hand, or go from an adjustable rate to a fixed one, refinancing your current loan with a new on makes great sense. In fact, some homeowners refinance more than once over their time in their […]
When should I refinance my mortgage?
A mortgage refinance is when a homeowner replaces their existing mortgage with a new one. Your original loan covered the purchase price of your home. A refinance loan is a new loan that pays off the balance on that original loan. The refinance loan is almost always a smaller loan. You’ll no longer make payments […]
Can I get a Home Loan Mortgage after going through a Foreclosure?
Going through a foreclosure is a brutal, depressing experience. It damages your credit and your confidence. With patience and effort, you can recover, overcome the past, and own a home again. It will take time. It will take work and discipline. If you take the right steps, you will demonstrate you are ready to take […]
Can I qualify for a home mortgage loan with low income?
Your income is one of the primary factors mortgage companies to determine if you qualify for a loan. For every mortgage loan, there are minimum income requirements and maximum debt limits that must be met in order to qualify. No question about it, for people with low income, this presents a difficult barrier to homeownership. […]
What are my Closing Cost and who’s paying them?
If you’re a first-time homebuyer, closing costs may take you buy surprise. These are additional out-of-pocket expenses that cover of a number of fees involved in the mortgage loan process. Closing costs generally amount to from 2% to 7% of the home’s purchase price. These expenses are on top of the sale price you negotiated […]
Divorce and Your Mortgage
Divorce or separation is an incredibly stressful time. Made even more so by having to split the family home or buy out your partner. Deciding who gets what often leads to acrimony and upset, making things messy and complicated. Whether you decide to buy out your partner or sell the family home and split the […]
Should You Use Your Builder’s Broker?
Building a new home is a complex project and there are many decisions to be made before the project even begins. From the style of architecture, to the floor plan and layout; bathroom and kitchen fixtures and fittings; right through to flooring, paint, countertops and cupboard handles. But the most important – and usually the […]
5 items worth considering before buying your first home
Buying your first home is an important milestone, including savings, careful decision-making, and thoughtful planning efforts. What are the first and biggest obstacles for most homebuyers? Save the deposit. Depending on where you are, it can take up to eight years to keep up with rising home prices and save enough. In other words, you […]
Can I get a home with bad credit?
When your credit score is low, the dream of home ownership can seem like an impossible one. You’re not alone. More than 30% of Americans have credit scores below 670, which is often the minimum score required to qualify. Loans with the most competitive rates require at least a 675. However, there are things you […]
What is an FHA home loan?
Is an FHA home loan right for you? What is an FHA home loan? The federal housing association insures FHA home loans for approved lenders. The minimum requirements are often lower than many conventional loans to allow borrowers the opportunity to become homeowners even if they have a less than ideal credit score and limited […]
