27
Oct
By Jim Hasek
Home Mortgage Tips, ,

Refinancing Your Mortgage? Know These Key Terms Before You Sign Your Paperwork

When it comes to your mortgage, there are a lot of key terms that are important for every homebuyer to know, and this is no less true than when it comes to refinancing your most important investment. Instead of leaving what's unknown up to chance, it's important to be aware of exactly what you're looking at so you can get the best mortgage product available. If you're currently considering refinancing and don't want to get snared by unknown terminology, here are some terms you'll need to watch out for. Cash-Out Refinance This type of refinance is a transaction where the…
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22
Oct
By Jim Hasek
Home Mortgage Tips, ,

Applying for a Mortgage? 3 Easy Ways to Make the Process Easier — and Reduce Your Stress

There are more than enough details involved in getting a mortgage and moving into your own home that you'll want to know how to make the process as seamless as possible beforehand. However, there's a chance you might not be aware of the things you can do to make it a little easier on yourself. If you're currently looking for a home and are wondering how to streamline the approval process, here are some things to do before applying to minimize mortgage-related stress. Get Electronic Documentation In order to get approved for your mortgage application, you'll need to provide documentation…
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21
Oct
By Jim Hasek
Mortgage, ,

Deciding On A Mortgage For Buying A Fixer Upper

It can be difficult to find a dream house, so many potential homeowners might be looking to save money by purchasing a home that they need to repair. Often referred to as a fixer-upper, this is a house that may require some extra work to restore to a livable condition. Not only is this a great opportunity to customize a home, but it could also be a valuable investment. At the same time, homeowners need to take out enough money to not only purchase the house but also cover the cost of repairs. How can potential homeowners decide what loan…
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20
Oct
By Jim Hasek
Mortgage, ,

A 20 Percent Down Payment: Is This Really Necessary?

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people believe they require 20 percent down to purchase a home. Saving this amount of money can be overwhelming, and some people are wondering, is this really necessary? There are several key points to keep in mind.  Putting 20 Percent Down Is Not Really Necessary When taking a look at the…
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19
Oct
By Jim Hasek
Mortgage, ,

What is an FHA Streamline Refinance?

FHA borrowers have an exceptional program available to them called the FHA streamline refinance. It’s a simple way to get a lower mortgage payment and/or lower rate, but it’s not for everyone. Read this guide to learn all about FHA streamline refinance and how it works. What is an FHA Streamline Refinance? The FHA streamline refinance allows FHA borrowers to skip most underwriting tasks including income and credit verification. It’s a simplified way to get a lower rate or change your loan’s term to get a more predictable payment. Who is Eligible? To be eligible for the FHA streamline refinance,…
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14
Oct
By Jim Hasek
Mortgage, ,

After Closing On A New Home: The Top Tasks To Complete

Closing on a new home is exciting and many people view their closing date as the finish line; however, even after closing a new home, there is still a lot that has to happen. What do new homeowners need to do after closing on a new home? Mark The Date Of The First Payment Every homeowner needs to know the first date of the new mortgage payment. They need to get their bank account set up for an automatic draft, or they need to send a physical check by that time. Keep in mind that the first payment might include…
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