When applying for a mortgage, you’ll inevitably be faced with choosing between fixed-rate mortgages and adjustable-rate mortgages (ARMs). This may seem simple enough, but still it’s a choice worth thinking about. While the marketplace offers a variety of options within these two categories, the first step is deciding which primary loan type best suits your …
Fixed vs adjustable rate mortgages: the pros and cons Read More »
When purchasing your first home, landing a mortgage is a necessary stepping stone to greater things. The wide variety of financing options available to first-time homebuyers, however, can be incredibly overwhelming. The good news is that a little digging on the basics of property financing can save you time and money and ensure you choose …
What are your options as a first time home buyer in Virginia? Read More »
While refinancing your mortgage may seem like a hassle worth avoiding at all costs, it can actually be a great way of consolidating your monthly expenses, saving money, and tweaking your current arrangement so you’re working with a more competitive interest rate—one that might not have been on offer when you opted into your original …
4 reasons you need a mortgage broker to refinance Read More »
While not all homebuyers choose to work with a mortgage broker, those who work with the right broker don’t regret their choices. Commonly understood as the ‘middlemen’ of the home buying process, a broker’s job is to go mortgage shopping on your behalf with the goal of finding you the best rate, terms, and conditions …
Will you qualify for a mortgage? If you’re on the market for a home, this is a question worth asking and answering. Whether your lender comes in the form of a bank, a credit union, or another financial institution, you’ll typically be asked to meet several basic qualifying criteria before your loan is approved. …
Will you qualify for a mortgage? 4 factors that influence the loan approval process Read More »
Searching for the right mortgage can cause a lot of stress, so working with a mortgage broker is a helpful option for anyone who wants to simplify the process. Many home buyers choose to hire a mortgage broker because it’s often the best (and easiest) way to land on the right terms and rates for their …
What are the pros and cons of using a mortgage broker? Read More »
Unless you can buy your home with a briefcase full of cash, researching mortgage types before you start the search for a home is key. After all, not all mortgages are created equal. Because knowledge is power, let’s break down the basic mortgage types and what they entail, shall we? 1. Conventional mortgages …
Buying a new home is easily one of the most complicated events in a person’s life, and the mortgage application process is easily the most strenuous part—especially for first-time homebuyers. Enter mortgage brokers! But what does a mortgage broker do? Unlike mortgage banks or loan officers, mortgage brokers don’t lend money directly. Instead, they negotiate …
One of the first choices to be made when mortgage shopping is what mortgage term will best suit your needs. After all, your mortgage payments and the amount of interest you pay will depend, in large part, on the length of the term you choose. The question is, how long will it take to fully …
Let’s face it: finding the right home is stressful enough without the matter of finding the right home loan—and that can feel downright overwhelming, even on the best of days. That’s why we have mortgage brokers. As the conduit or ‘middle-man’ between lenders and borrowers, the right mortgage broker can play a key role in …