Are you current or former member of the US military service who is looking to buy a new home? If so, you will be pleased to know that there are some special mortgage programs that are open to you. Let's take a look at five reasons why a mortgage backed by the Department of Veterans Affairs is an excellent choice when buying your new home. You Can Borrow Up To 100% Of The Home's Value You read that correctly! VA-backed mortgages are available to you even if you choose to put no money towards … [Read more...]
3 Great Homebuying Tools Millenials Have Available to Them Right Now
The economy seems to be heating up rapidly, but home loan interest rates are still at historically low levels. Real estate values have climbed a bit across the country, but low interest rates and affordable prices makes for an excellent opportunity for new homeowners to get into their first home before it rates and prices rise higher. According to the recent studies, there were 4 consecutive quarters of homeownership growth where new homeowners outpaced new renters. The solid economic … [Read more...]
The 4-Step Financial Checkup to Get Ready for a Mortgage This Year
Are you ready to join the ranks of homeowners in our local community? Congratulations – homeownership is a big step towards building your net worth and financial freedom. However, it is also a significant transaction that will affect your finances for the foreseeable future. Let's take a look at a quick four-step checklist that will help you to get ready to buy a home with a mortgage this year. Step 1: Set Up A Monthly Budget It might sound a little basic, but the best first step is to … [Read more...]
Questions and Answers Regarding Escrow Accounts
Whether you are purchasing a new home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners. In reality, these accounts benefit the homeowner and help protect the lender. What is an escrow account? Escrow accounts are sometimes called "impound" accounts. These accounts are set up to help manage payments of property taxes and homeowner's insurance. Depending on the individual … [Read more...]
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