Obtaining a pre-approval for a mortgage is an important step when you're planning to buy a home. It gives you an idea of how much you can afford, helps streamline the home-buying process, and strengthens your position as a serious buyer. However, many people worry that the pre-approval process might negatively impact their credit score. In this blog post, we'll dive into the details to determine whether or not a pre-approval for a mortgage will hurt your credit. Understanding Credit Inquiries To … [Read more...]
Buying in a New Community: How to Meet and Make Friends with Your New Neighbors
One of the stresses of moving to a new area is giving up the familiarity that you have with your old neighbors and starting from scratch. Whether you've just moved to a different locale or you're planning to relocate in the near future, there are some easy ways that you can make a home of your new neighborhood right from the start. Stand Up and Smile While there are neighborhoods where people are definitely friendlier than others, by making your presence positively known you can make an instant … [Read more...]
What You Need To Know About Your Home Appraisal And Your Mortgage
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing. It’s easy to overlook the impact of some of these steps, but when it comes to a mortgage, the home appraisal is actually quite important. Banks want to see that they are lending money for an investment that is worthwhile, so that … [Read more...]
Most Renters Are Paying Far More Than Their Landlord’s Mortgage
It is not uncommon for renters to pay more in rent than their landlord's mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than the cost of their mortgage. There are several reasons why renters often pay more than a mortgage payment: Renters are not building equity: When you make a mortgage payment, you are building equity in your home. Equity is the value of your … [Read more...]
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