11 Oct 2016
By Mark Feder

The Pros and Cons of Using Your Savings to Make Your Full 20 Percent Down Payment

Home Mortgage Tips
If you've been perusing the real estate market with the hope of purchasing a home, you may be aware that the often-touted amount you should put down is 20 percent. However, there are good things and bad things involved in investing so much money into your new home. If you're wondering how to decide on your down payment amount, here are some things to consider before putting in 20 percent. No Rainy Day Fund It might seem like the best option is to put down as much as you can, and use up your savings if needed, but putting all…
Read More
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…
Read More
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…
Read More
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…
Read More