Buying a Home? 4 Steps You Can Take to Ensure You Start out with a Low Monthly Mortgage Payment

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Are you thinking about buying a new house or condo? If so, you've likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home. Below we'll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment. Make A Large Down Payment On Your Home The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you'll be required to pay back.…
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Understanding Title Insurance and How It Impacts Your Mortgage Loan

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When you buy a home, you will be given a title to your new property. A title is a legal document that proves you own the property, and in most cases the title excludes other parties from making an ownership claim. However, not all titles give you free and clear ownership of the property. Title insurance protects you and your lender from title disputes and other ownership issues that may arise. Here are just a few ways that title insurance can impact your mortgage. How Title Insurance Protects A Lender There are certain situations in which someone might put a…
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A Step-by-Step Guide to Preparing Your Finances for the Mortgage Pre-Approval Process

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Being pre-approved for a mortgage isn't just a way to get a step ahead, in many cases it's a necessity to buying a home. Many sellers don't want to go through the negotiation process of selling their home only to have the buyer drop out when they can't get approval for the mortgage they were relying on. The Difference Between Pre-Qualification And Pre-Approval Pre-qualification is a faster process than pre-approval and is usually a best estimate based on how the borrower answers certain questions about their financial history and status. Pre-approval is way more valuable to a borrower than pre-qualification…
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Speeding Up the Close: Five Tips on How to Close Your Mortgage Loan Faster So You Can Start Moving In

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When a seller accepts an offer from a buyer, the process of obtaining the property has just begun. The buyer now has to conduct an inspection, get approval from an attorney and obtain a mortgage - all of which can be time consuming. Here are a few ways that you can speed up the mortgage process and close the deal sooner. Make Sure That You Have Money For Closing Costs Do you have the money needed for a down payment and to pay other closing and prepaid costs? If not, you won't be able to close until you find the…
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Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

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Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to…
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It Is Tax Time Again Learn About Tax Deductions and How to Write off Your Home Mortgage Interest

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Much to the frustration of taxpayers all over the country, the tax-filing season begins in January and runs through April 15 of each year. The year 2020 brought us many changes, including an extension on filing taxes. Taxes this year are due on July 15th. Are you ready? As the current tax season approaches, it presents an opportunity to help tax-payers clarify their responsibilities and remind them of certain important tax deductions that may be available. Filing Responsibilities Every person in the United States is required to file their tax returns by July 15 so long as they have some…
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