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...]
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...]
Home Mortgage Rate: The Difference Between Interest Rate and A.P.R.
Home Mortgage Rate: What is the difference between the interest rate and the A.P.R.? When shopping for the lowest home mortgage rate you'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to "why" is … [Read more...]
Home Buyer Assistance Programs
One of the most frequently asked questions by first time homebuyers is, “are home buyer assistance programs real?” Let's shed some light on that. The three key elements of any mortgage application is the down payment, income, and credit history. The reason that the down … [Read more...]
First Time Home Buyer Tips
Many young families contact me asking for first time home buyer tips. My stock answer to them is: “Are you sure you want to buy and not continue to rent?” Even though I feel strongly that buying is more prudent economically, I also know that the decision to buy has to be … [Read more...]
First Time Home Buyer Guide: Why You Should Get an Inspection
Whether you are buying or selling a home, you should have a professional home inspection performed. A home inspection will look at the systems that make up the building such as: Structural elements, foundation, framing etc Plumbing systems Roofing Electrical … [Read more...]
First Time Home Buyer Advice: Types of Ownership
Before you reach the closing day, you will want to make a decision as to how you will "hold title" to the property. This decision has legal, tax and estate planning ramifications. Therefore, it may be prudent to consult an attorney or certified public accountant (CPA). The … [Read more...]
Do You Need Help Buying a Home?
Many buyers need help buying a home because they don’t have enough information about how banks evaluate the borrower’s income. Here are some little known facts that will help you with your purchase: -If you are a W2 employee, Fannie Mae criteria … [Read more...]