Due to the fact that mortgage rates are still hovering near record lows, many homeowners are considering refinancing to a lower interest rate. This is a great way for homeowners to shorten the term of the loan, reduce the size of their monthly payments, and access cash for a home improvement project. On the other hand, there are some situations where it might be too soon to refinance an existing mortgage. What are a few factors to consider? Conventional Home Loans Might Require A Certain Amount … [Read more...]
Approved With Conditions: What Does It Mean?
Applying for a home loan might not be the most exciting part of purchasing a home; however, many homeowners need to go through a lender to purchase a home. It is exciting to hear that the approval letter has gone through; however, it is also possible for someone to see that they have been approved with conditions. What does this mean? What are some of the most common reasons why someone might have conditions? It Could Just Be Standard Procedure Sometimes, people see that they have conditions to … [Read more...]
