This article is meant to give a first time buyer information on very specific steps on how to initiate the process of purchasing a home. There are a few people you will need in order to successfully purchase a home. They will help guide you on your journey towards home … [Read more...]
Archives for January 2014
ARMS (Adjustable Rate Mortgages)
With everything that happened with the economy in the past several years people are staying away from ARMs because of the perceived risk. In a recent article titled “Don’t take out a fixed-rate mortgage” that appeared in the Wall Street Journal the author makes a point … [Read more...]
First Time Home Buyer Credit Score Information
While many prospective homebuyers would like to believe that they know all there is about their credit score, more than 15 years in the mortgage business has shown me otherwise. On the contrary, MOST knowledge the common buyer has regarding how to properly raise their credit … [Read more...]
Broker or Banker?
For those who don’t know, Motley Fool is an extremely authoritative website that covers all sorts of financial topics; overall it’s a great website with a lot of credible information and reliable sources. Recently, however, two articles appeared that were written by a new … [Read more...]
5 Things Homeowners Forget to Ask
I want to add my "2 cents" to the article that appeared in Yahoo Finance in December of 2013, which can be found by clicking here. 1. APR (Annual Percentage Rate) My first thought is that if you start comparing lenders by using APR you will be very frustrated and … [Read more...]
Good Faith Estimate
I have found that, although many people of heard of a “Good Faith Estimate”, very few know what it is and what it’s used for. Seeing as this document is actually pretty important, we’re going to take this article to help explain everything you need to know about the Good … [Read more...]
Choosing the Right Person to Work With
Most important in your process of purchasing a home is making sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you … [Read more...]
Denied A Mortgage?
An articles I recently read (that can be found here) makes some good points...There are a few things I want to point out and add. -Have a conversation with your Loan Officer before you start your application process. He or she should be able to tell you what their bank's … [Read more...]
First Time Home Buyer Requirements: Importance of the Down Payment
Though there are many important first time home buyer requirements, perhaps the most significant is the down payment, or the DP. The down payment is important for any purchase, not only a first time buy. A general rule of thumb to remember is that the higher your investment … [Read more...]
Insurance For First Time Home Buyers
A homeowners insurance policy is a package policy that combines more than one type of insurance coverage in a single policy. There are four types of coverage that are contained in the homeowners policy: dwelling and personal property, personal liability, medical … [Read more...]