01
Sep
By Jim Hasek
Home Mortgage Tips, ,

Are You Ready to Refinance Your Mortgage? Learn How to Do a Quick Refinancing Self-Assessment

Whether you've decided to renovate your home or you would like to consolidate your debt, refinancing your mortgage can be an option in times of money trouble; however, it's important to know whether or not this is the right step for you. If you've been considering refinancing recently and are wondering how to come to a decision, here are some questions you should ask yourself before wading into the water. Do You Have The Extra Time? It may sound silly, but looking into the details of financing your mortgage can take up a lot of time, and if it's going…
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31
Aug
By Jim Hasek
Home Mortgage Tips, ,

The Pros and Cons of Borrowing the Down Payment for Your Next Home

With the rising cost of real estate, many people feel that now is a good time to buy a home to ensure a good financial future. However, if you haven't saved up enough money to make a down payment, it's possible you may be considering whether or not you should borrow the funds. If you're considering a loan from friends or family, here are some points you may want to think about before asking for a loan. Getting Out Of The Rental Market With even the rental market seeing huge increases in its rental rates, buying a home can be…
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10
Aug
By Jim Hasek
Home Mortgage Tips, ,

Can You Get a Mortgage after a Chapter 7 Bankruptcy Discharge? Yes – But You’ll Have to Wait

There was a time when it was possible to acquire a mortgage shortly after filing for Chapter 7 bankruptcy, but with the shifts in the financial sector, the timeline on such a mortgage approval has changed in recent years. If you're currently undergoing a Chapter 7 bankruptcy and are wondering how this will impact home ownership, here are the basics on this type of bankruptcy and what it may mean for you. What Is Chapter 7? While a Chapter 13 bankruptcy is the kind of financial situation that requires debt repayment, Chapter 7 is different in that it involves the…
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09
Aug
By Jim Hasek
Home Mortgage Tips, ,

Leveraging LPMI: The Pros and Cons of Lender-Paid Mortgage Insurance

From interest rates to mortgage loans, there are many things associated with applying and obtaining a mortgage that are important for new homeowners to be aware of. If you've heard the term Lender-Paid Mortgage Insurance (LPMI), this is when the mortgage lender pays off mortgage insurance on behalf of the homeowner. While this kind of insurance can be beneficial for some homeowners, here are some of the basics on LPMI so you can determine whether or not it will work for you. It Can Be Tax Deductible While a homebuyer generally has to be in a position of good credit…
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04
Aug
By Jim Hasek
Home Mortgage Tips, ,

3 Different Types of Loan That Will Negatively Impact Your Ability to Get a Mortgage

A good credit rating is built on a number of financial factors including paying your bills on time and the length of your credit history, but loans can also be a source of bolstering your credit score in a positive way. While this means that loans can actually be a good thing, there are also the kinds of loans that can have a damaging impact on acquiring a mortgage. If you'll soon be pursuing your own home purchase, here are some loans that may have a negative impact. Borrowing For Education When you are young, student loans are an ideal…
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03
Aug
By Jim Hasek
Home Mortgage Tips, ,

Spouse with Bad Credit? 3 Reasons You’ll Want to Consider a Co-signer for Your Mortgage

Obtaining a mortgage can be quite a complicated process even without the financial hurdles, but if your spouse's credit has experienced a number of difficulties, acquiring a mortgage can be even more of a burden. If you're concerned about what bad credit will mean for your mortgage and are weighing your options, here are some reasons why it might be important to use a co-signer for your application. Increasing The Likelihood Of Approval From getting an education to purchasing your first vehicle, it's a common occurrence for people to take a loan out at some point in their life. However,…
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