Buying a house can be an exciting time. However, it is also known to be a very stressful, tedious process. Many who do not have home buying experience may feel lost and confused. To prevent you from this struggle, we have put together a list of what to do when buying a home. By taking […]
A schedule C is a tax schedule where someone who is either self-employed or receives a 1099 report on his or her income. This schedule is used to report income or loss from a business of the individual that had worked in or a profession the individual had practiced. The person that would need a […]
Mortgage insurance is required for people who are interested in a house and they want to put a down payment with less than 20% of the sales price. The mortgage insurance exists to help make you a more attractive candidate to lenders. Mortgage insurance is an insurance policy that compensates the lenders or investors for […]
After you have figured out how much you want to pay out of pocket, the next thing to check off on your home buying to do list is to research loan officers. Clearly, there are some who will do a much better job than others, so choosing your loan officer wisely will go a long […]
Here are a few tips on how to improve your credit. There are many ways to improve credit score. You can start by keeping balances low on credit cards. Another way to start is to pay off debt rather than moving it around. Set up reminders to make your payments on time. Do not open […]
Some costs are paid in advance. These are costs that you must pay at closing that are prepaying things in advance. For example, the first year of homeowner’s insurance must be paid one year in advance. Many of these items are put into an escrow account that cover the initial costs of expenses, such as […]
It is a smart idea when going through the mortgage process to shop around for the best interest rates and fees. Did you know that you can shop around for many services associated with buying a house? Of course, you can shop around for the loan, such as comparing interest rates and fees, but you […]
You must understand the loan programs your loan officer is suggesting to you. Otherwise, you may be ill advised and go with the wrong program. One thing to take note of is what type of loan that your loan officer is suggesting. Specifically, is it an FHA loan or a Fannie Mae loan? It is […]
A pre-qualification or pre-approval letter is usually asked for prior to shopping for houses. This means that you have applied for a mortgage and have passed the initial requirements to be considered pre-qualified. Both letters refer to a lender that specifies how much the lender is willing to lend to you. The information that is […]
This is the percentage that compares the loan to the value (LTV) of the property. For example, if you are putting down 20% on a property, the LTV is 80%. A LTV ratio is a term used by lenders to express the ratio of a loan to the value of an asset purchased. The LTV […]
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Unlock the Secrets of Florida Mortgages. We’re excited to take your mortgage knowledge to the next level! With the ever-evolving landscape of real estate and financing, understanding Florida mortgages can be a daunting task.
That’s where Melinda comes in! With her expertise and passion, she’ll guide you through the ins and outs, ensuring you’re well-equipped to make informed decisions.
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