An appraisal is a review and estimate of a property’s fair market value. An appraisal in conducted by a state-licensed professional, an “appraiser”, who has specific training and education to evaluate a property and provide a value for a property based on its physical condition, amenities, and location. Appraisals are typically required by mortgage brokers […]
Knowledge Center
How Your Credit Score Rates Your Mortgage Worthiness
Credit scores are a means of evaluating borrowers to determine their ability and trustworthiness to repay a debt. Information regarding your history of borrowing credit or making certain payments on time is gathered and used as a basis for a credit scoring system. Using a complicated algorithm, credit scoring companies use the following information to […]
What Happens When a Mortgage Payment is Missed
When a homeowner is unable to make their monthly payment of the principal and/or interest on their mortgage, the lender can have the home “foreclosed” on as stipulated in the terms of the mortgage contract. This means the lender can take ownership of the property, have the current homeowner evicted, and resell the property. What […]
What type of home loan program is best for me
The many different types of home loans available can seem overwhelming. Should you choose a fixed rate, adjustable rate, or government loan mortgage? The truth is there is no right answer. Choosing a loan type is an important decision that is best made after you have researched your options. Remember, taking the time to explore […]
Can I Get A Home Loan With Challenged Credit
One of the top reasons stopping people from attempting to purchase a home is the fear their credit history or credit score won’t be good enough to get them qualified for a home mortgage loan. While this may be true with some loan programs, there are several other mortgage loan options available that accept less […]
First Time Home Buyer's Guide
First-time homebuyers are often unfamiliar with the types of mortgage loans available to them and the loan process. To help educate first-time homebuyers, we have created the below guide to discuss different loan programs and outline what you can expect when you are ready to buy your first home. Quelling Fears About Buying A Home […]
What Is A Fixed Rate Mortgage
A traditional fixed-rate mortgage is the type of mortgage that comes to mind for most individuals when thinking about buying a home. With a traditional fixed-rate mortgage, a set interest rate is applied to the loan and is paid monthly, typically added to the monthly loan payment. Fixed-rate mortgages may have a term of 10 […]