03
Mar
By Jim Hasek
Mortgage, ,

What Are The Benefits And Drawbacks Of Putting 20 Percent Down On A Home Purchase?

Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn't save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement. It was the way to show that you were financially responsible enough for homeownership. And it was a strong way that the banks felt secure in making a home loan. Today, however, homebuyers have many options available to them as they shop for a new home, and those…
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01
Mar
By Jim Hasek
Mortgage, ,

The Top Benefits Of A Single Close Construction Loan

If you are thinking about building your own home, you might be wondering how construction loans work. There are plenty of options available, but one of the most popular choices is a single-close construction loan. This type of loan allows you to close on not only the construction expenses but also your financing costs at the same time. Essentially, a single-close construction loan will convert into your mortgage after the construction on your home is finished. What are some of the top benefits of this type of loan? Save Time One of the first benefits of a single-close construction loan…
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28
Feb
By Jim Hasek
Mortgage, ,

Moving From An Apartment To A House? Here’s What You Need To Remember About Your Lease

The major problem that the vast majority of buyers will run into - especially when purchasing their first home - has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn't over until August, you can't be expected to wait around. But at the same time, the remainder of that lease agreement could represent thousands of dollars that you'll be paying to essentially "live" in two different places at the same time. Luckily, all hope is not lost.…
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24
Feb
By Jim Hasek
Mortgage,

The Top Reasons To Stop Renting And Buy Today

Buying a house can be expensive, and it can take a long time to save up money for a down payment; however, it might be time for you to stop renting and buy your own place. What are some of the top reasons why it might be time to put down some roots? Your Rent Is Going Up The reality is that your rent will go up with time. Every time you renew your lease, it can be frustrating to see that rent check continue to increase. If you are tired of your rent going up, get a mortgage. You…
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23
Feb
By Jim Hasek
Mortgage, ,

What Items Can Change My Mortgage Pre-Approval Status?

When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals. So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it's when the lender provides you (the buyer) with a letter stating that your mortgage will be granted up to a specific dollar amount. What Do I Need For Pre-Approval? In order to obtain a pre-approval for your home purchase, you will…
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22
Feb
By Jim Hasek
Mortgage, ,

The Job Of A Mortgage Loan Originator

Do you want to purchase a house? If you cannot pay cash for your house, you will need to apply for a mortgage. A mortgage loan originator can help you find the right mortgage to meet your needs. What are some of the job duties of a mortgage loan originator, and how can they help you with the financing process? Provide You With a Budget The house-hunting process can be exciting, but it can also be a bit stressful. How do you know if you can afford your dream house? This is one of the first jobs of a mortgage…
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