Buying a home can be a thrilling experience. But it also comes with lots of questions. One common question from potential homeowners is, “how long it takes to close on a house?” And when they can expect an exact closing date. Let’s break down what you need to know about the closing process. The Closing […]
Applying for a mortgage loan can be an intimidating process, and it’s easy to feel overwhelmed. But understanding what documents you need is the first step in taking control of the process and getting into your dream home. Here are the eight essential documents you’ll need when applying for a mortgage loan. Asset Statement Your […]
Mortgage points, also known as discount points or simply points, are fees paid directly to the lender at closing in exchange for a reduced interest rate on a mortgage loan. One mortgage point is equal to 1% of the total loan amount you pay. If you’re borrowing $250,000, one point would cost $2,500. But are […]
Buying a home is an exciting process, but it’s important to remember that there are costs associated with homeownership beyond the principal and interest amounts. Closing costs are one of those costs, and they cover a range of fees related to transferring the title from the previous owner’s name to yours. Let’s break down what […]
Ready to take the plunge into homeownership? Before you start your house hunt, it’s important to know how much of your income you can allocate to your monthly mortgage budget. Here, we’ll discuss how to determine your mortgage budget, allocate your income, and what expenses to include. Determining Your Mortgage Budget The most important […]