When applying for a mortgage loan, your credit score will be one of the key factors in whether you’re approved and it will help determine your interest rate and possibly the terms of your loan. It’s a good idea to get a free copy of your credit report from annualcreditreport.com before you begin the home …
If you are having a difficult time finding a new home with limited inventory in today’s market, have you considered renovating your current home? We have many Renovation Loan1 solutions to use for a wide range of home improvement needs, which allows you to distribute the renovation costs over the life of the loan. Consider …
Before you can make the transition from renting your home to owning your home, you will need to have a down payment, typically 3 to 20 percent of the home’s value. George Mason Mortgage suggests the following tips to help save for it: 1. Develop a budget & timeline. Start by determining how much you’ll …
Our goal is to make your home buying experience as seamless as possible. We have highlighted some key guidelines to help keep your finances in order as you prepare for your journey home. Any changes to your current financials could affect your current financial picture. We are always here to provide guidance and advice as …
When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re a buyer, owner or seller, you’ll want to understand how the appraisal process works and how an appraiser determines a …
After you finish signing at the closing of your new home, you’re handed the keys and the house is officially yours! But, there are some things you should do to make sure the transition from your old place to your new address goes as smoothly as possible. Every area of the country is different, which …
Buying a home will likely be the biggest purchase you will ever make in your life. Finally moving into your new home will be a joyous occasion and for some, the culmination of a dream. When looking for a home loan, you have options. When you use a local or regional lender, you are working …
Homeowners insurance or home insurance is typically required for anyone who takes out a mortgage to buy a home. Prior to closing on a mortgage, you must be able to provide a proof of homeowners insurance. The insurance helps protect the home, the contents within and the homeowner from any catastrophic damage. Lenders require such insurance …
When you buy a home, there may be tax deduction benefits. These include possible mortgage interest and points you paid to receive a lower interest rate. It is also possible to deduct the property tax you paid during the year as well as any mortgage insurance premiums required if you didn’t make a large down …
Buying your own home can be exciting and frightening at the same time. George Mason Mortgage suggests considering the following questions when choosing your first home: 1. How much money do you have saved up? Start with an evaluation of your financial health. How much do you have saved for a down payment? Down payments …
5 Important Questions When Choosing Your First Home Read More »
Por lo general, se requiere un seguro para propietarios de viviendas o un seguro de casa para que cualquier persona que tenga una hipoteca para comprar una casa. Antes del cierre y cuando hay una hipoteca, usted debe de proporcionar una prueba de seguro de propietario de vivienda. El seguro ayuda a proteger a la …
Cuando usted está comprando una casa usando una hipoteca, refinanciando su hipoteca existente o vendiendo su casa a cualquier persona que no sea un comprador de todo en efectivo, la tasación de la casa es un componente clave de la transacción. Ya sea comprador, propietario o vendedor, querrás entender cómo funciona el proceso de evaluación …
Después de que termine de firmar al cierre de su nuevo hogar, ¡le entregarán las llaves y la casa es oficialmente es suya! Pero, hay algunas cosas que usted debe hacer para asegurarse de que la transición de su antiguo lugar a su nueva dirección se tan fácilmente como sea posible. Cada área del país …
Comprar una casa probablemente será la compra más grande que jamás haya realizado en su vida. Finalmente mudarse a su nuevo hogar será una ocasión alegre y para algunos, la culminación de un sueño. Cuando busca un préstamo hipotecario, tiene opciones. Cuando utiliza un prestamista local o regional, está trabajando con alguien con experiencia con …
¿Por Qué Usar un Prestamista Hipotecario Local o Regional? Read More »
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $548,250 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit (CLL) for one-unit properties will …