Your debt-to-income ratio is one way that lenders measure your ability to manage the monthly payments you’ll need to make to repay the money they intend to lend you. Let’s take…
Browsing Tag
mortgage
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Which mortgage loan is best for you? Here are advantages of two common options. 30 year fixed rate mortgages are traditionally the most popular. They are easier to qualify for and…
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Have you been thinking about building a new home? It’s not too early to start designing and planning for that right now! Mari Santoyo Perry, a New Home Sales Specialist at…
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When you are at the closing of a real estate transaction you may hear the term “prepaid interest.” Here is what it means… Prepaid interest charges are charges due at closing for…
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When you apply for a mortgage you might come across the abbreviation “PITI.” Here’s what it means… PITI stands for Principal, Interest, Taxes and Insurance. Mortgage lenders want to be sure…
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Have you ever wondered what the difference is between a mortgage’s interest rate and its annual percentage rate? Here’s the answer… The interest rate is the cost you’ll pay each year…
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The Federal Housing Administration (or “FHA”) was established in 1934 to advance opportunities for Americans to own homes. The FHA provides private lenders with mortgage insurance that gives them the security…
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Homeowners who are planning to improve their home, looking for relief from debt, or making a major purchase should consider a home equity loan. The equity in your home is the…
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If you are looking to buy a home but plan to make a down payment of less than 20%, most lenders will require private mortgage insurance. Mortgage insurance protects the lender…
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Did you know that you can save a great deal of money by paying down your home mortgage ahead of schedule? Let’s take a look at some simple strategies you can…