Resources
APR
A new homebuyer will quickly learn that there are many terms specific within the mortgage
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Down Payments
A new homebuyer who is looking to purchase property will need to have cash to offer as a
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Loan to Value
When a lender is determining whether to approve your home mortgage application
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Closing Cost
When you take out a new home loan, you will be required to pay closing costs.
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Impound Accounts
When you take out a new mortgage, you will start paying monthly principal and
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PITI
Your mortgage will consist of four parts – principal, interest, taxes, and insurance.
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Prepayment Penalties
A new homebuyer should always understand the exact terms of the loan they are
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Loan Locks / Locking in an Interest Rate
With a loan lock, the lender agrees to secure (or lock in) an interest rate
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Mortgage Insurance
Sometimes a new homebuyer cannot afford a 20% down payment on a new home.
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Mortgage Closing Process
After you have found a new home, qualified for a loan, and secured financing,
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Wholesaling
There are two types of lenders that will help a homebuyer open a new mortgage.
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Bad Credit
There are many variables that can potentially cause a bad credit rating, and it’s
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Credit Repair
If your credit score is lower than 620, it can have a negative impact on qualifying for
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Assumable Loans
In certain scenarios, it might make sense to consider an assumable loan. With this
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Home Buyer’s Guide
Buying a home can be a roller coaster ride, it’s exciting and may be stressful at the same time
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Refinancing Guide
Refinancing a home loan involves taking out a new mortgage to pay off your existing mortgage
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Documents Needed
When applying for a home loan, you will typically need to provide the following documents
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Do Not Do List
When applying for a home loan, it’s important to follow some key guidelines to increase
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Most Important Question
Here are some important questions to consider when applying for a home loan
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FAQ
When it comes to buying a home, I know it is probably one of the most difficult decisions
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