When you’re buying a home, it’s crucial to get pre-approved for a mortgage BEFORE making an offer. Pre-approval provides you with several advantages that can save you time, money, and stress. Let’s see why it is better to get pre-approved…
So, you’ve been crushing it at your job through a staffing agency, getting steady paychecks, and now you’re ready to buy a home. But then—bam!—you find out that lenders might not be as thrilled about your employment history as you…
Understanding the difference between closing costs and down payment and how they vary between VA, FHA, and conventional loans can help you figure out how much money you need to save for your purchase. Let’s look at some information about…
When you rent a home, you typically pay a monthly rent to your landlord. You’re not responsible for property taxes, homeowners’ insurance, maintenance, and repairs. When you own a home, you’re responsible for everything. This initially makes renting a less…
So, you’ve got two jobs, three side hustles, and maybe a lemonade stand on the weekends—and you’re thinking, “This has to help me get a mortgage, right?” Well… maybe. Lenders love income, but they love stability even more. If you…
When applying for a mortgage, lenders typically evaluate a borrower’s ability to repay the loan based on their income and employment history. One common misconception among potential borrowers is that having two jobs will automatically increase their chances of qualifying…
An FHA loan is a type of mortgage that is insured by the Federal Housing Administration (FHA). This type of loan is popular among first-time homebuyers, buyers with lower credit scores, smaller down payments, or higher debt ratios. In addition…
If you’re in the process of repairing your credit, you may be tempted to apply for a mortgage. After all, owning a home is a significant financial milestone, and it’s natural to want to achieve it as soon as possible…
Discount points are upfront fees a borrower can pay to a lender in exchange for a lower interest rate on their loan. “Points” or “investment points” as they are often referred to, are also tax deductible. Some ways of finding…
Many people assume they’re not eligible for first-time homebuyer incentives because they have owned property in the past. This is not necessarily true! If you have not had an ownership interest in a house in the past 3 years, you…
