Our team of licensed loan officers understands that the process of applying for a mortgage can be confusing, especially for first-time homebuyers. Two terms that often come up in the mortgage application process are pre-approval and pre-qualification. While these terms may seem interchangeable, they actually refer to two different steps in the process! Here we […]
The steps toward purchasing a home are an exciting endeavor, but sometimes it can get overwhelming. Typical home purchases are financed with assistance from lending entities. These lenders offer varying interest rates and timelines for loan repayment, and they determine these criteria based on a variety of factors including an individual’s credit score, income, and […]
One of the most significant changes our sales team at SouthPoint Financial has been tracking over the last 6 months is rising interest rates. Recently, we have covered some of the reasons that swing is happening, including a downturn in financial markets and a cooling off from the red-hot housing market we saw during the […]
Good Debt vs. Bad Debt In today’s economy, many Americans may be regretting taking on debt in the past or facing new debt to cover expenses during the pandemic. And yet millions of consumers continue to apply for mortgages for home purchases, one of the largest debts most people will ever assume. The reason for […]
With home prices soaring over the past few years, homeowner equity is at all-time highs. It could be a great time to tap into some of that equity to pay off debts or finally make those home improvements you’ve been dreaming about. One of the most common ways to borrow against your home’s value is […]