Current times are tough and there are a lot of homeowners who are having trouble making ends meet. Therefore, they are looking for ways to remain financially afloat as they assess their options. One option that people might have heard a lot about is called mortgage forbearance. It is critical for everyone to understand what mortgage forbearance is and how this might be able to help them during these challenging times. Importantly, it is also important for people to know what mortgage forbearance is not. What Does Mortgage Forbearance Do? For those who are currently facing financial challenges, mortgage forbearance might be helpful. The goal of mortgage forbearance is to allow people to … [Continue Reading...]
If you are looking for a home, then you probably have a budget in mind. You also need to know about the most common factors that influence the price of a home. One factor that always seems to play a role in the price of a home is the quality of the school system. This makes sense. After all, a lot of people who are looking for a home have children (or are planning on having children) and want to make sure they have access to a quality education. At the same time, is it truly worth the price increase to have access to a better school district? The Quality Of The School District And The Price Of The Home Numerous surveys have consistently shown that the majority of homeowners are willing to go … [Continue Reading...]
So – you've completed an initial mortgage pre-qualification and now you're ready to take the next step and meet with your lender or mortgage advisor for the pre-approval interview. Are you ready?
At this stage of the application process your lender will dig into your financial background to ensure that you're fully capable of making your mortgage payments and that you don't present too high a risk. Let's take a quick look at a few questions you should know the answers to before you go in for a mortgage pre-approval.
Do You Have a Specific Home in Mind?
If you've already picked out the perfect new home, be sure to bring along some of the details when you meet with your lender. At … [Continue Reading...]
During the past few months, everyone has been going through unprecedented times. Every industry has been impacted and this includes the real estate sector. There are lots of people who are still trying to buy and sell a home during an era of social distancing. This can make it hard to look at a prospective property in person. The good news is that there are still ways for people to buy a house virtually. There are a few tips that everyone should keep in mind. Go On A Virtual Tour Of course, everyone wants to take a close look at a home before they decide to buy it. Even though it is challenging to schedule live tours, virtual tours can still be helpful. With virtual real estate … [Continue Reading...]
If you're entering the real estate investment market for the first time, you're embarking on a great adventure - and with a solid plan, you can turn a tidy profit on your investment. The key to a successful real estate investment is choosing the right property. A great property will reap dividends for years to come. Look for these three features in your next investment property and you'll have no trouble finding one that turns a profit. Location: More Important Than You Think The location of your investment property will be critical in determining how much you earn on it and how long you're able to keep tenants. And as the saying goes, you can change the color of the walls, you can change … [Continue Reading...]
If you are thinking about purchasing your first home in the near future, then you need to be aware of the costs that you are going to take on. When you are looking at the cost of a home, it is very tempting to focus on the sticker price of the home. Even though the down payment is going to be the largest check you are going to write, this is not the only cost that you are going to pay. There are numerous other costs for which you need to budget as well. By thinking about all of these costs ahead of time, you can make a smart financial decision for you and your family. Think About The Real Estate Taxes Depending on the part of the country in which you live, real estate taxes can be … [Continue Reading...]