15 Sep 2020
By noelkelman

Speeding Up the Close: Five Tips on How to Close Your Mortgage Loan Faster So You Can Start Moving In

Home Mortgage Tips, ,
When a seller accepts an offer from a buyer, the process of obtaining the property has just begun. The buyer now has to conduct an inspection, get approval from an attorney and obtain a mortgage - all of which can be time consuming. Here are a few ways that you can speed up the mortgage process and close the deal sooner. Make Sure That You Have Money For Closing Costs Do you have the money needed for a down payment and to pay other closing and prepaid costs? If not, you won't be able to close until you find the…
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03 Sep 2020
By noelkelman

How Do Mortgage Lenders Decide How Much You Can Borrow?

Home Mortgage Tips, ,
When you visit your lender to get a mortgage for your home, they will tell you the maximum amount that you are allowed to borrow. But how do they reach this total and what factors do they take into consideration? How do they determine that one borrower can take on a bigger mortgage than the next? This decision is made by mortgage companies by considering a wide range of factors, including your credit information, your salary and much more. Here Are Some Of The Common Ways That Lenders Determine How Much You Can Borrow: 1. Percentage Of Gross Monthly Income Many…
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27 Aug 2020
By noelkelman

Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

Home Mortgage Tips, ,
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to…
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19 Aug 2020
By noelkelman

Applying for a Mortgage? Three Questions Your Lender Will Ask You – and How to Prepare Your Answers

Home Mortgage Tips, ,
Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. That means your lender will be asking you several questions about whether or not you can afford a mortgage. Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval. How Stable Is Your Income? Your lender is going to want to know that your income is going to be stable over the life of the loan. This means that you should…
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13 Aug 2020
By noelkelman

Thinking About Buying An Investment Property? 6 Tips To Ensure You Don’t Get Fleeced

Home Mortgage Tips, ,
Purchasing an investment property is one of the most important decisions that you'll ever be a part of. As such, it's a necessity to make your decisions with only the most careful of consideration. Here are the six tips that you need to heed in order to ensure that you don't get fleeced. Find The Right Property At The Right Price Yes, this is a whole lot easier said than done. However, it's not impossible. All it takes is some patience and research. You have to determine what everything in your area is selling for in order to be able…
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08 Jul 2020
By noelkelman

Five Tips for Managing Your Monthly Budget to Ensure Your Mortgage is Paid On-Time, Every Time

Home Mortgage Tips, ,
Homeowners who are struggling to make their monthly mortgage payments can make it easier on themselves by cutting costs in other areas. Learning how to budget effectively will likely enable homeowners to pay their mortgage payments on-time, every time. Here are five of the best budget tips: Conserve Energy It is advisable to be mindful of energy use in order to keep utility bills down to a minimum. Lights, televisions and other devices requiring electrical power are best to leave off in unoccupied rooms. It is also a good idea to make sure that windows and doors are properly sealed…
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02 Jul 2020
By noelkelman

It Is Tax Time Again Learn About Tax Deductions and How to Write off Your Home Mortgage Interest

Home Mortgage Tips, ,
Much to the frustration of taxpayers all over the country, the tax-filing season begins in January and runs through April 15 of each year. The year 2020 brought us many changes, including an extension on filing taxes. Taxes this year are due on July 15th. Are you ready? As the current tax season approaches, it presents an opportunity to help tax-payers clarify their responsibilities and remind them of certain important tax deductions that may be available. Filing Responsibilities Every person in the United States is required to file their tax returns by July 15 so long as they have some…
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30 Jun 2020
By noelkelman

A Breakdown – The Difference Between FHA, VA and USDA Mortgages

Home Mortgage Tips, ,
Are you thinking about using mortgage financing to buy a new home? If so, you've likely heard about mortgage insurance policies requirements and you may be wondering how they will affect you. In today's blog post we'll explore mortgage insurance and explain the difference between conventional, FHA, VA and USDA mortgage insurance policies. How Does Private Mortgage Insurance or "PMI" Work? While there are a number of reasons that your lender may require mortgage insurance, in general you'll be required to purchase a conventional PMI policy if you are putting less than 20 percent of the home's value in as…
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