07 Jan 2025
By Mark Feder

How to Avoid Mortgage Scams and Stay Safe When Buying a Home

Home Mortgage Tips
Scams are everywhere, and the mortgage world is no exception. As you start the exciting journey of homeownership, it’s essential to be aware of the potential risks and arm yourself with knowledge to protect your investment. Here’s what you need to know about common mortgage scams and how to safeguard your financial future. Common Mortgage Scams to Watch Out For 1. Wire FraudOne of the most common and devastating scams is wire fraud. Scammers impersonate your lender or title company, sending fake instructions to transfer your closing funds. Victims often lose their money with little chance of recovery. What to…
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19 Dec 2024
By Mark Feder

What If My Mortgage Pre-Approval Expires?

Home Mortgage Tips
A mortgage pre-approval is one of the most valuable tools in your homebuying journey. It's not just a letter stating how much you're qualified to borrow; it’s a written commitment from your lender that assures sellers you have the financial backing to make a competitive offer. Having a pre-approval letter in hand can give you a significant advantage in a competitive housing market, signaling to sellers that you’re serious, financially prepared, and ready to move forward. However, like many things in life, pre-approval letters have an expiration date. If you don't find your dream home before that date passes, you…
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17 Dec 2024
By Mark Feder

Condo Financing vs. Single-Family Home Mortgages

Home Mortgage Tips
Purchasing a condo can be an exciting step, offering a more affordable option or an appealing lifestyle in certain areas. However, financing a condo differs significantly from securing a mortgage for a single-family home. These differences arise from the shared nature of condo ownership, affecting the underwriting process, appraisal requirements, insurance needs, and sometimes even the interest rate. Understanding the nuances of condo financing will help you make more informed decisions when it comes time to purchase a condo. Key Differences in Condo Financing 1. Appraisal Process Single-Family Homes: A typical appraisal for a single-family home only evaluates the property…
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20 Nov 2024
By Mark Feder

Top 5 Mortgage Types for Homebuyers

Home Mortgage Tips
When you're preparing to buy a home, choosing the right mortgage is one of the most important decisions you’ll make. With so many options available, it can be challenging to know which type best suits your needs. Each mortgage type comes with unique advantages and understanding them can help you achieve your homeownership goals in a financially sustainable way. Below, we outlined the five of the most common mortgage types and how they differ. 1. Conventional Fixed-Rate MortgageOne of the most popular options for homebuyers, the conventional fixed-rate mortgage offers consistency and predictability. With this loan, the interest rate remains…
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