04 Dec 2015
By Mark Feder

Video: Are There Special Mortgages For First-Time Homebuyers?

Home Selling Tips, Mortagage Tips
Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past. Lenders may now be able to help borrowers who don't have a lot of money saved for the down payment and closing costs, have no or a poor credit history, have quite a bit of long-term debt, or who have experienced income irregularities.
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06 Nov 2015
By Mark Feder

How Are Pre-Qualifying And Pre-Approval Different?

Mortagage Tips
How Are Pre-Qualifying And Pre-Approval Different? Watch this video and it'll make sense. Pre-qualification is an informal way to see how much you maybe able to borrow. You can be 'pre-qualified' over the phone with no paperwork by telling a lender your income, your long-term debts and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the amount you may have available to spend on a house. Pre-approval is a lender's actual commitment to lend to you. It involves assembling financial records and going through a preliminary approval process.…
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22 Jul 2015
By Mark Feder

Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage

Mortagage Tips
If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. What is a Debt-to-Income Ratio? A debt-to-income ratio is the percentage of monthly debt payments compared to the amount of gross income that a person earns…
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05 Aug 2014
By Mark Feder

The Summer Buying Season Is Here: 3 Tips to Help You Secure a Favorable Mortgage Rate

Mortagage Tips
The best way to ensure you get a good rate on your mortgage is to become an informed buyer. The more you know about mortgages, the more you'll be able to save, and that doesn't just mean knowing where to find the best interest rate. While interest rates play an important role in determining the price of your mortgage, there's always more to a mortgage than just the interest rate. Here are three things you need to know about mortgages to make sure you secure a favorable rate. Understand The Fees Involved - And How To Avoid Them Aside from…
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