Explaining Mortgage Insurance
The term Mortgage insurance could be referenced throughout the entire mortgage process and could have different meanings. Generally, the term refers to a type of coverage that helps the lender protect their interest in your home in the event that you can’t make your mortgage payments. We’ll take a look at the five different usages of the term mortgage insurance and what they mean.
Common Misconceptions Held By First-Time Home Buyers
Getting ready to make the leap from renter to homeowner can be exciting. However, you may also feel overwhelmed by the prospect of applying for loans and finding the right home for your family. It doesn’t help that first-time homebuyers often receive a lot of misguided advice from well-intentioned friends and family, making it hard for them to sift through what is fact and what is fiction about the home buying process. To help you feel more prepared as you look for your first home, keep reading as we take a look at some of the most common misconceptions first-time homebuyers have about the process of purchasing a home.
Check Out These Four Awesome Fall Activities That Won’t Break the Bank!
As the weather gets cooler and the leaves begin to change, families are eager to start planning their fall festivities. Unfortunately, this cannot be done easily if you’re on a budget. However, these four awesome fall activities won’t break the bank and will provide you with great family fun!
5 Things You Didn’t Know About Down Payment Assistance Programs
Buying the home of your dreams in this economy is no easy decision. Home prices are at their all-time high, and saving for a down payment is a real challenge for most people struggling to make ends meet. Many Americans still mistakenly believe they should save up as much as a 20% down payment just to stand a chance of buying their dream home.
Married. Now What? Breaking Down The Real Estate Options for Newly Weds
After marriage preparations and celebrations are done, the next step for newlyweds is to look for a comfortable place to settle down. If you and your spouse decide to buy a house over renting one, you might be wondering where to start in the home-buying process.
The 7 Mistakes Homebuyers Make During Underwriting That Delay the Process
Getting a mortgage loan to buy a house is a multi-step process. First, you apply and may receive your pre-approval letter. This means that the lender has reviewed your finances and would most likely be willing to lend you a certain amount. Then you make your offer, the seller agrees, and you enter the underwriting phase.