When shopping for a mortgage, it is always a smart idea to make sure that you ask for the estimates in writing. All you must do is ask your loan officer for an estimate, in writing, of all the costs that he or she is quoting you. Typically, you can avoid paying lender fees, such […]

This term refers to whether your interest rate is locked in. If your interest rate is not locked in, your rate can go up or down and that is called “Floating” the interest rate. A lock is a period that the banks or financial institutions are not allowed to change the interest rate on your […]

For the average homebuyer, you may not have much knowledge when it comes to mortgages and the loan process. Mortgage rates — how they work and where they come from—may be confusing at times. Luckily, we can make your lives a little bit easier. To understand how mortgage rates are determined, we must first understand […]

When gathering the documents that are necessary for a buying a home, it is critical to be organized. By doing so you will decrease the chance of leaving out certain documents, losing documents, and any other errors. You will typically need these items as a starting point. To begin with, you will should have ready […]

Lender’s title insurance is an insurance policy that insures the lender that there will be no other liens on the title before the lender’s lien position. This is required with all mortgages. This will protect the lender against problems with the title to the property. The cost of the lender’s title insurance ranges depending on […]

What is a loan commitment and how to obtain one: Generally, all loan commitments are what are called conditional loan commitments. This means that the loan is approved based on the borrower providing certain loan conditions. A loan to commitment letter is a letter given or provided by the mortgage lender that indicates that a […]

Here, we will be covering the topic of out of pocket expenses. When going through the motions of the mortgage process, it is important to figure out how much you want to pay out of pocket to cover all costs. We suggest you ask yourself how much you can afford out of pocket for a […]