What Homebuyer’s Need to Know About Mortgage Insurance

Understanding Mortgage Insurance Can help you better prepare for the cost of owning a home . What is mortgage insurance and who benefits from it? I am often asked, “will mortgage insurance payoff my mortgage if something happens to me?” And while you can buy that kind of insurance, when lenders refer to “mortgage insurance” …

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Explaining the Mortgage Process, from “Pre-Qualification” to “Pre-Approval” to Closing

Understanding the Mortgage Process If you are considering a home purchase, you have probably heard that getting pre-qualified for a mortgage is an important step in the buying process. But what does a pre-qualification require, and does it differ from being pre-approved? On paper, the terms “pre-qualified” and “pre-approved” seem to be interchangeable. However, when …

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For a Mortgage Lender, Should you choose a Banker or a Broker?

Purchasing a home is arguably one of the largest most important financial transactions a person will make in their life. So, you might be surprised to hear that the Consumer Financial Protection Bureau estimates nearly half (47%) of consumers do not shop around for their home loan – they simply obtain their mortgage through whomever …

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Student Loans 101

Basic facts about student loan you should know. Not sure how you (or your kids) will pay for college? You might be planning on a combination of savings, scholarships and grants, but it doesn’t hurt to understand your options for student loans too. Where can students get a loan Federal loans — Federal government loans …

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Fannie Mae’s “Delayed Financing:” Pay CASH for your home today, then CASH-out tomorrow!

Delayed Financing is a cash-out refinance option that can begin as early as one day after paying cash for a Primary, Second Home, or Investment property?  In competitive markets, listed homes may only be available for a few days—maybe only hours.  Buyers need to make solid offers and deliver on agreed terms.  Being a cash …

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Pre-Qualified vs. Pre-Approval…do you know the difference?

Know the difference Many potential borrowers still get drawn into the mistaken perception that once a lender issues them a Pre-Qualification for a mortgage, this means that they have been approved for a home loan. Most home buyers fail to make the proper distinction between being Pre-Qualified for a mortgage and being approved for one. …

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