How To Get The Highest Appraisal For My House
When you are trying to sell your home, the appraisal is the figure that will determine how much you can easily sell your home for, and ultimately, how much money you can make. If you're like most homeowners, you want this number to be as high as possible. Here's how to get the highest appraisal...
3 Things You Should Know about Condo Mortgages
If you're planning on buying a condo anytime soon, you will most likely have to take out a mortgage. Unless you can pay for the condo with cash (rare), you will have to go through the exact same process as if you were buying a home. Here are three things you should know about condo...
How to Get The Best Deal on a Mortgage
If you're looking for a mortgage, there are a few steps you can take to make sure you're receiving the best deal on a mortgage possible:
Get a Fixed Rate Mortgage.
Even though adjustable rate mortgages can initially have lower mortgage rates, they can quickly increase according...
How Long Does it Take To Get Approved For a Mortgage?
Congratulations, you're about to buy your first home! The big question remains, though: how long does it take to get approved for a mortgage? Here are some ways you can determine that:
Shopping For Loans: 14 Days
Before you commit to a mortgage, you are going to need to do a...
Deed in Lieu of Foreclosure Explained
You may have heard the term, "Deed in Lieu of Foreclosure." Essentially, a "deed in lieu of foreclosure" is when a borrower gives all of the property to a lender in an effort to avoid a foreclosure on a defaulted loan. While this seems fairly drastic, this can help the borrowers...
How to Reduce Your Monthly Mortgage Payments
If you have a mortgage, you've probably wished you were paying less at some point or another. Though this isn't always possible depending on your circumstances, there are usually some steps you can take to reduce your mortgage payment. Here are our top 3 favorite ways of...
What You Need To Know About Escrow
When you purchase or refinance your home, you will receive a GFE (good faith estimate) from your lawyer approximately when you will go into escrow. This GFE will describe in detail the information for your escrow account; this is commonly referred to as insurance impounds and...
Homeownership Tax Benefits
One of the biggest benefits of homeownership is that you get tax benefits. Here are the three most significant tax benefits associated with homeownership:
When you purchase a home and take out a mortgage, you will get a tax break on the interest of that...
What Is the Process of a Short Sale?
When the economy collapsed a few years ago, many people in the United States could no longer afford mortgage payments and had to undergo a short sale. Even though this was a hard an unfortunate process, it still allowed these homeowners to avoid worse alternatives such as foreclosure. If...
FHA 203k Versus Fannie Mae HomeStyle Renovation Loans
If you want to take out a renovation loan, you can decide between the Fannie Mae HomeStyle loan or the FHA 203k rehab loan. Both of these loans are one-time construction loans and have several differences. Here are the key differences between an FHA 203k loan and a Fannie Mae HomeStyle...