When you've finally found the home you're looking for at the right price, it's easy to think that the hard part is over; however, there's still a lot to do in order to ensure your purchase goes through without a hitch. If you're tying up the loose ends on your home purchase, here are some things you should do to avoid any unnecessary delays. Hire A Legal Professional However much research you may have done in regards to buying a home, there's still a lot of legal jargon in the closing documents … [Read more...]
Understanding the Jumbo Mortgage and Why Refinancing is Different
The contemporary trend towards expansive dimensions is palpable in various aspects of modern life. Oversized soft drinks, large fast-food meals, and expansive smartphones have become ubiquitous. However, one unlikely sector experiencing a similar trend is the realm of mortgages. Delving into the specifics, what exactly constitutes a jumbo mortgage? How does it differ from its conventional counterpart, and what implications does it hold for potential refinancing? Here's a comprehensive overview. … [Read more...]
You Ask, We Answer: What Are the Pros and Cons of Private Mortgage Insurance?
It's easy to get Private Mortgage Insurance (PMI) confused with homeowners' insurance, but PMI is an entirely different thing that may or may not be necessary when it comes to your home purchase. If you're going to be investing in a home in the near future and are wondering what PMI may mean for you, here are some things to consider regarding this type of insurance. Your Down Payment Amount If you've been perusing the housing market for a while, you've probably heard that 20% is the ideal amount … [Read more...]
Will Getting a Mortgage Help My Credit Score?
Getting a mortgage can potentially help your credit score, as long as you make your payments on time and in full each month. Payment history is one of the most important factors that influence your credit score, so consistently making your mortgage payments on time can have a positive impact on your credit score over time. It is important to carefully consider the financial implications of taking on a mortgage and to ensure that you can afford the payments before proceeding. It is also … [Read more...]
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