As you figure out your home budget, it’s key to consider all the factors that will make up your mortgage payment. Here we share four important elements, known as PITI, which affect the amount you will pay each month: P Principal Amount borrowed to buy your home ⇑ Payment goes toward ⇓ ⇓ ⇓ ⇓…
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Even though saving for your first home may sometimes feel overwhelming, many others have successfully navigated the homeownership journey with the right strategy in place. Here are five straightforward tips to help get you on the fast track to enjoying your first home: 1. Don’t Fixate on One Neighborhood You may love where you live…
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1. Good brokers leverage technology for their clients’ benefit New technology may be impacting the mortgage broking industry in a big way, but we are using it to our advantage and yours. We can enhance your experience in the homebuying process with tech that simplifies processes and procedures, such as: Automated communication channels – bots, voicemail,…
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Even though saving for your first home may sometimes feel overwhelming, many others have successfully navigated the homeownership journey with the right strategy in place. Here are five straightforward tips to help get you on the fast track to enjoying your first home: 1. Don’t Fixate on One Neighborhood You may love where you live…
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Pandemic Turns Renters into First Time Owners for Comfort, Feeling of ‘Home’ Do you rent, or you plan on working towards home ownership? Why, or why not? Renters have had their ideas about home ownership challenged by the pandemic as they have had to spend more time at home working, at-home schooling, and quarantining. In…
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Do Get prequalified Check your credit report Continue paying your current monthly bills, including rent and utilities Pay all your bills on time: Important to be current Continue making purchases as usual: Banks love consistency, and continuing normal patterns of credit use gives banks a good idea of your spending routines Ask your lender questions:…
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Each year, millions of people buy homes. Most know that a realtor and mortgage professionals can be a huge help in the process. A little-known secret though, is that an independent insurance agent can be equally valuable in the home-buying process – providing critical information that can help you with your home-buying decisions. Here’s how…
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Seasoned Assets, Sourcing Large Deposits and Gifts: The best thing to do is to keep your money stationary in its original accounts. It is also important to not to move any major amounts around and to not deposit cash on hand into any accounts within your mortgage process. Definitions A Large Deposit is considered a…
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The distinction – between PMI, MIP, & Homeowner’s Insurance- is one that many homebuyers- particularly first-time borrowers- have a lot of questions about. Hopefully, this article answers those basic questions, and if you have more in-depth questions, please contact us to help assist you further. This overview should help with the generalities. By Yvonne…
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Once you’ve received a pre-approval from your loan officer and are aware of all the costs involved and what you can afford, it’s time to begin your search for a home. FINDING A REAL ESTATE AGENT Your real estate agent is a valuable partner in the homebuying process. He or she will help you find…
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