fbpx

Blog

Mortgage Tips For First-Time Home Buyers

Buying a home is a big deal. Not only is it an obvious monetary commitment, but it is also a big milestone in life. Owning a home can help plant roots in a community and give you the opportunity to develop friendships with neighbors in a way that apartments simply can’t.

As a first time homebuyer, there are probably a ton of questions running through your mind. We have...

Mortgage Refinancing: What To Know Before Diving In

refinancing

Around 65% of homeowners have a mortgage, although not all are created equal. Mortgage rates vary depending on the option you chose initially: fixed rates start off with a higher interest rate but stay the same for the entire length of your loan, while adjustable rates begin low for the first few years and then can vary remarkably.

 

Although the latter can seem...

The Relationship Between Your Mortgage and Your Credit Score

mortgage options

As many of us have found out, it is essentially impossible to buy your first home up-front. This massive amount of capital is generally paid over the long-term, in the form of a mortgage. When a mortgage company calculates a potential monthly payment, it turns out not everyone is on equal footing — those with higher credit scores will typically find offers with better rates than those...

Calculating Your Mortgage Payments: Why These 4 Factors Matter

Buying a home is the biggest investment you will most likely ever make. Since most people are unable to pay hundreds of thousands of dollars upfront, you’ll need to take out a mortgage to cover what you can’t pay; to give you an example of what that might look like, the average new mortgage balance was $244,000 in 2017. Though there are a number of mortgage rates and...

Choosing A Loan: Which Type Is Right For You?

loan programs

Money makes the world go ’round. Money is required to buy a house, a car, and attend university. Unfortunately, most of us don’t have enough cash available to quickly and easily pay for all of those necessities upfront; that’s why so many types of loans and loan programs exist.

However — because home loans, mortgage options, and personal loans vary so...

Financing Your Home: Should You Rely On A Mortgage Broker Or A Bank?

Buying a home is an extremely exciting — but sometimes overwhelming — experience. In addition to determining whether or not you can even afford a house in the first place, there are a lot of other things to consider: how high is your credit score (the median mortgage borrower had a credit score of 754 in 2017), how much can you spare for a downpayment, and should you...

Don’t Believe These Mortgage Misconceptions

mortgage lenders

When you buy your first home, there are a lot of financial decisions to make. For instance, you’ll need to determine how much you can actually afford to spend on a home and whether you’ll need financial assistance. Since this is likely one of the most substantial purchases you’ll ever make, you’ll need to devote a lot of time and energy into figuring out how...

How Will My New Mortgage Affect My Credit Score?

credit score

If you’re looking to buy your first home, you may have some reservations about the impact such a massive purchase will have on your credit score. Home prices are higher than ever and are expected to continue to rise between 2% and 6% over the next few years. This means the home loans you take out are going to be even larger than you may have anticipated, and we all know how large loans...

Which Is Best for You? 15-Year vs 30-Year Mortgages

Mortgage Minute with Andy Tuttle, American Dream TV

Debating whether a 15-year or 30-year mortgage is best for you? We’ve got answers! On this week’s episode of The American Dream TV show, we brought in Mary Lyons of Personal Economics Group to discuss the advantages and opportunities available with a 30-year mortgage.

As we all know, a 15-year...

Qualifying for a Mortgage if You’re Self-Employed

Mortgage Minute with Andy Tuttle, American Dream TV

Securing a mortgage while self-employed may prove a bit more challenging, however you can still qualify for the same loan programs as traditional borrowers. The key for a self-employed borrower successfully obtaining a mortgage is income verification.

The mortgage application process is the same regardless of whether you...

Stay In The Know

Stay up to date on what you need to know about market changes and how that impacts a home mortgage.