01
Mar
By
Mortgage, ,

Should You Get Pre-Qualified Or Pre-Approved For Your New Home Purchase?

Often times, home buyers can be disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them. One of the options is to ensure you obtain a pre-qualification from your lender. It is important to understand the difference between a pre-approval and a pre-qualification. While both are helpful, they do not carry the same weight. What are the differences between these options? A pre-qualification allows a borrower to determine how much money they…
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27
Feb
By
Mortgage

How To Successfully Use Your Down Payment to Achieve Your Home Buying Goals

When you are considering purchasing a home , understanding the lending guidelines regarding a down payment is important.  Here are a few key tips to consider: Gifting of a Down Payment There are some programs that will allow you to use a gift for your home down payment. However, before you assume this, make sure you talk to your loan officer. Generally speaking, the lender will require the person making the gift to provide a letter stating the money was a gift and does not require repayment. Windfalls as a Down Payment When people hit the lottery or come into…
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22
Feb
By
Mortgage, ,

3 Great Homebuying Tools Millenials Have Available to Them Right Now

The economy seems to be heating up rapidly, but home loan interest rates are still at historically low levels. Real estate values have climbed a bit across the country, but low interest rates and affordable prices makes for an excellent opportunity for new homeowners to get into their first home before it rates and prices rise higher. According to the recent studies, there were 4 consecutive quarters of homeownership growth where new homeowners outpaced new renters.  The solid economic fundamentals are likely responsible for creating this excellent home buying environment. Over the past year, Millennials seem to be on board…
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