Home buying probably ranks as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps required to achieve your housing goal successfully and to build a plan of action […]
How to Avoid Monthly Mortgage Insurance through your local lender. Most consumers looking to purchase a property are under the impression that if they put less than 20% down for the purchase of their new home, they will be required to pay monthly mortgage insurance. This is a common misconception that is more than likely […]
What are the 4 types of Mortgage Providers? 1. Mortgage Bankers Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is a mortgage banker. Some companies […]
What is manual underwriting? When you fill out an application with a mortgage lender, the lender will run your application through an automated underwriting system. These systems have algorithms that include all the underwriting guidelines from Freddie Mac & Fannie Mae and match the information on your loan application with those guidelines. An actual underwriter […]
Creative budgeting can be a game-changer if you’re trying to save money or get a better handle on your finances. Your family budget does not necessarily have to fit a template, and even if you do use a template, you can customize it. A budget that fits your style and family dynamic tends to be […]