Buying real estate and or taking out a home loan is a significant milestone in life. Frequently, it means that a new phase is starting, whether it's a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To ensure a smooth transaction, home buyers should be sure to mind the following tips.
If you have been declined for a mortgage, you may think that home ownership is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about your loan options and get the mortgage that works for you.
Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval.
Last week's economic news offered a variety of indications that the economic recovery continues, but some readings missed their expected levels. The Philadelphia and New York branches of the Federal Reserve Bank reported higher than anticipated manufacturing for their respective regions and new jobless claims were lower than expected.
Purchasing an investment property is one of the most important decisions that you'll ever be a part of. As such, it's a necessity to make your decisions with only the most careful of consideration.
When you are purchasing a home, your broker may recommend you obtain a mortgage pre-approval before you find the home of your dreams.
Fannie Mae and Freddie Mac have been in the news quite a bit over the past few years, so it's a good time to do a refresher on who they are and what role they play in the real estate market.
When preparing for a closing on your refinance or home purchase, one of the documents you will be provided with a few days before closing is a HUD-1 Form. This form provides you with valuable information about your loan.
Owning a home can be a sign of independence and success. It allows you to build up equity and the mortgage interest and property taxes are tax-deductible. What can you do to make a home affordable for you?Reputable lenders look at a list of criteria to decide how much they'll loan you.
A mortgage loan approval is never final until it's funded. And that means after you've signed the final paperwork and the bank has wired funds to escrow.