Learn all about the home loan basics. FAQ’s, tips, tricks, and strategies to help you make an educated decision and save money on your next home loan.
Timing the market for the best possible opportunity to lock a mortgage rate on a new loan is certainly a challenge, even for professionals. While there are several generic interest rate trend indicators online, the difference between what’s advertised and…
Continue reading the "Top Five Market Factors That Influence How Mortgage Rates Move" »
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick…
The difference between APR and the actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before. When shopping for a new mortgage loan, you may notice an Annual Percentage Rate…
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed…
Continue reading the "What Do Appraisers Look For When Determining A Property’s Value?" »
By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. Many different occurrences can come into play to warrant the need for title…
Continue reading the "What Does Title Insurance Protect Me From?" »
Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate…
Many people believe that interest rates are simply set by lenders, but the reality is that mortgage rates are largely determined by what is known as the Secondary Market. The secondary market is comprised of investors who buy the loans…
Lower mortgage rates is a common misconception that is perpetuated by the mainstream media when the Fed makes an announcement of lowering rates. However, when the Fed cuts interest rates, mortgage rates can actually increase. Fed 101: According to Wikipedia:…
Continue reading the "How Do Mortgage Rates Move When The Fed Lowers Rates?" »
Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value. According to Wikipedia: Private Mortgage Insurance (PMI) is insurance payable to a lender or…
By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. The borrower’s monthly mortgage payment may change over time…
Continue reading the "Understanding An Amortization Schedule" »
