05 Oct 2016
By Mark Feder

3 Common Mistakes That First-time Mortgage Borrowers Make and How to Easily Avoid Them

Home Mortgage Tips
Deciding to purchase a home will be one of the biggest investment decisions you'll make in your life, but it can be confusing for the first-time home buyer to know all the ins and outs of buying a home. If you're wondering what things first-time buyers often forget about before purchasing a home, here are three important things that you'll want to keep in mind. Ignoring Their Credit History If you have a high debt load or you haven't been making your minimum payments, it can be pretty frightening to consider looking at your credit report, but it's very important…
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04 Oct 2016
By Mark Feder

Understanding Appraisals and What to Do If Your Home Doesn’t Appraise for Its Purchase Price

Home Mortgage Tips
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment if your home has been appraised at less than you envisioned, here are some options you may want to consider. Review The Appraisal Contingency Clause If an appraisal contingency clause is built into the terms of your contract, this means that the terms of your contract can be…
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16 Sep 2016
By Mark Feder

Investing in a Vacation Property? Learn What You’ll Need to Have to Get A Mortgage Approved

Home Mortgage Tips
With approximately one million people having purchased vacation homes in the last year, this type of residence is gaining popularity for those who are interested in a home in a beach setting or a vacation hot spot. However, while a second home can seem like a great purchase and solid investment opportunity, there are different requirements that go into this type of purchase. If you're considering a vacation home, you may want to be aware of the following financial factors. The Down Payment Amount If you currently have a primary residence, you may be aware that you don't need to…
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15 Sep 2016
By Mark Feder

Mortgage Myths: Here’s Why You Don’t Need a Full 20 Percent Down Payment

Home Mortgage Tips
If you're just getting into the real estate market, you may have heard that 20% down is the ideal percentage in order to lower your monthly payments and get your mortgage application approved. However, while 20% is often suggested, many people struggle to come up with this amount of money. If you're staving off home ownership, here are some reasons you may not need to hold off as you long as you thought. Minimizing Your Insurance Costs Putting down 20% of the total purchase price of your home is often suggested, but it doesn't definitively mean that your application won't…
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