Mortgage Process
The mortgage process is complex, but it can be broken down into the following steps: pre-approval, inspection, appraisal, and closing. Before searching for a home, it is advisable to get pre-approved for a mortgage so you know exactly what you can afford.Â
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Pre-Approval
Before searching for a home, it is advisable to get pre-approved for a mortgage so you know exactly what you can afford. Read More >
Why a Pre-Approval Letter Matters in Buying
A crucial document that may significantly influence the home-buying process is a pre-approval letter. It is a statement from a lender confirming...
Maximize Your Loan Approval Chances
An essential step in acquiring a mortgage loan is submitting a loan application. Getting a loan...
Find the Right Mortgage Lender
For anybody wanting to buy a new house or refinance their current mortgage, mortgage shopping is...
Gather Financial Info for Home Buying
The first thing you should do if you’re thinking about purchasing a house is to gather...
Pre-approval vs. Pre-qualified: Key Differences
Getting a pre-approval will allow your lender to dig deeper into your finances to verify your...
Inspection
A surveyor conducts a Mortgage Loan Inspection (MLI), to evaluate the property's boundaries and compare them to the legal description included in the property deed. Read More >
What Does a Home Inspection Report Include?
Before purchasing a property, you should order a home inspection. The home inspection report will include:Â Interior of the home The exterior of the...
Home Inspection: Spotting Deal Breakers
No home is perfect and it’s common for some issues to be identified with a home inspection. How...
What Do Home Inspectors Look For?
How Does a Home Inspection Work? The last line of defense that a potential buyer has is a home...
Should I Back Out if the Home Inspection Comes Back Bad?
A bad home inspection does not mean you should immediately back out of buying the house: You...
Appraisal
Creating a value for real property based on professional opinion is known as a a real estate appraisal which is necessary to secure a mortgage. Read More >
USDA Appraisal Guidelines: Repair Requirements Explained
FHA, USDA, and VA Appraisal Rules Government-backed loans like FHA, VA, and USDA will likely require an appraisal and possible repairs before your...
How an FHA Appraisal Works
The Department of Housing and Urban Development (HUD) has set minimum property standards that FHA...
Should You Skip the Home Appraisal?
Believe It or Not, Home Appraisals Are Not Always Required. Home appraisals are important for...
Home Appraisal Below Purchase Price
When Your Property Is Appraised Too Low No matter your situation- selling, refinancing, or buying-...
Home Appraisal Process and Costs Explained
Home Appraisals Are Not Only Important, They Are Also Required A home appraisal will determine the...
Closing
The closing represents the conclusion of a real estate deal. It is the final stage in the property purchase and financing process. On the day of closing, the seller transfers ownership of the property to the buyer. Read More >
The House Was Approved. The Insurer Said No
Your loan is approved, your rate is locked, your closing is Friday. Then the insurer declines the property over the age of the roof, and the...
The Home Appraised Low. Now You Owe the Difference
The appraisal came in under your contract price. Here are your five options, what an appraisal gap clause commits you to, and how the shortfall changes your loan.
Your Rate Lock Expires Before You Close. Then What?
Your 45-day lock is running out and closing has slipped. Here’s what an extension costs, who pays when the delay isn’t your fault, and how to avoid the trap.
Banks Hide These Fees: The Sneaky Closing Costs Buyers Always Forget to Budget For
Three days before closing, Maria opened her Closing Disclosure and felt her stomach drop. The number on the page was $4,200 higher than anything she had budgeted for — and her lender’s explanation was a wall of line items she had never seen before. Closing costs are the part of homebuying that nobod
The One Credit-Card Mistake That Killed a Perfect Mortgage 48 Hours Before Closing
The moving truck was booked. The utilities were transferred. Then, 48 hours before closing, the phone rang — and it wasn’t the title company calling to confirm the time. Most buyers know the mortgage process ends at the closing table. What they don’t know is that lenders run a second, silent credit
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Refinance Your Home. When Is The Best Time?
Evaluate your financial situation and determine if a refinance could help you save. Consider lower interest rate, shorter loan term, access equity, long-term savings, and costs/fees. The best time is when it makes sense for your goals.
Purchase a Home. Take it 1 step at a time.
Evaluate your needs and finances to make sure you’re ready. Consider down payment, loan terms, monthly payments, closing costs, and other factors. You’re ready when you can afford it and it makes sense for your goals.
Selling Your Home. It’s Not Hard, Let’s Break It Down
Ready to sell? Evaluate the market and make sure you’re ready. Consider home improvements, pricing, taxes, closing costs, and other factors. You’re ready when you can maximize your return and it makes sense for your goals.
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