For most people, their home is the most valuable investment they will ever make. Therefore, it needs to be protected. This is where homeowners’ insurance is critical. At the same time, buying the right amount of homeowners’ insurance can be a bit of a challenge. A home that is underinsured leaves the homeowner vulnerable to situations involving fires, floods, and theft. On the other hand, nobody wants to throw away money unnecessarily by over-insuring the home. How can everyone purchase the right amount of homeowners’ insurance? Review The Coverage Every Year First, people’s needs are going to change from year to year. Therefore, everyone should review their policy … [Continue Reading...]
Last week’s scheduled economic reporting included readings on inflation and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Rate Rises in November Inflation rose by 0.20 percent in November according to the federal government, but this reading fell short of the Federal Reserve’s goal of achieving 2.00 percent inflation annually. November’s year-over-year inflation rate was 1.20 percent. October’s inflation reading was flat and analysts expected inflation to grow by 0.10 percent in November. Core inflation, which excludes volatile food and fuel sectors, showed readings identical to the Consumer Price Index reading. … [Continue Reading...]
Buying a new home is an exciting experience. At the same time, it is also important for everyone to think about a few important topics that have to be discussed before they place an offer on a home. That way, everyone can rest easy, knowing they have done their due diligence when it comes to purchasing a new home. Do Not Neglect The Noise Level Of The Neighborhood One of the most commonly overlooked topics when it comes to buying a house is the noise level of the neighborhood. Some noise from the outside world is to be expected, particularly for those who move into a busy neighborhood. During a tour of the potential home, it is a good idea to ask realtors to lower the level of … [Continue Reading...]
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...]
