What is the Risk? When a lender looks at a loan application, their main question is "what risk do I take on by issuing this loan?" Credit checks, bank statements, employment verification – all the documentation required when getting approved for a loan is in service of assessing what the odds are ... Continue Reading » about Private Mortgage Insurance (PMI) Explained
With peak home buying season upon us, here's what analysts are expecting to see this year: Increasing Mortgage Rates It appears, depending on how the economic recovery progresses, that mortgage rates could continue to increase. Earlier in the year, rates were holding under 3%, but those rates ... Continue Reading » about The Home Buying Season is Back
If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund and stimulus payments beef up your savings. Using data from the Internal ... Continue Reading » about Your Tax Refund and Stimulus May Help You Achieve Homeownership
A Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% - a better chance ... Continue Reading » about The Financial Benefits of Homeownership
When you’re ready to buy a house, a lot of jargon is thrown around. One term you’ll hear a lot is debt-to-income ratios. If you’re not a math wizard, such lingo can sound intimidating, but it doesn’t need to. Debt-to-income ratios are simple to figure and use to your advantage, even giving you the ... Continue Reading » about Debt-to-Income Ratios: Why are they Important to Me?