How to prepare to buy a house in 2023
Buying a house in 2023 will be both an exciting and daunting process. 2023 is the year that we believe potential home buyers will have more control over their home purchase terms than they have had in a long time. Mortgage interest rate increases over the past year have led to many potential buyers sitting […]
Fellowship Philanthropy – De La Salle School
This Christmas has been amazing at Fellowship Home Loans. We are truly Blessed to be able to help and work with so many amazing people. It was a great year for us and as much as we celebrated internally, we also wanted to spread the cheer to our community. We truly enjoy giving back through […]
Pre-Qualification Versus Pre-Approval
For buyers ready to start looking at homes, terms can get confusing, especially if this is a first-time home buyer. Pre-qualification and pre-approval are often used interchangeably, but they are very different and have different impacts on buying a home. Read below to learn more about these two terms and what they mean. Pre-Qualification for […]
How to Make a Competitive Offer on a Home
In today’s market, even with the recent changes, sellers still have the upper hand. Any offer you put in needs to be as competitive as possible, so you have a higher chance of being accepted. Use the steps here to make sure you’re making a competitive offer that has a higher chance of being accepted […]
Simple Steps to Pre-Qualify for a Loan
Pre-qualification provides buyers with insight into how much money they can borrow to purchase a home. It also gives them the chance to make sure they are ready to buy a home and will likely qualify for a mortgage once they’re ready to do so. Plus, pre-qualification can look better to sellers when the buyer […]
What is LTV and Why is It Important?
In financial terms, an LTV, or loan to value ratio, is a comparison between the size of a loan and the value of the asset being purchased. This can be calculated for any large purchase that requires a loan, including buying a home. It’s often used by lenders to determine the amount of risk when […]
How Credit Inquiries Affect Your Credit Score
Window shopping can be a lot of fun, but when it comes to credit cards, mortgages, and other loans, potential homebuyers will want to make sure they understand credit inquiries and how shopping around can impact the potential to obtain a mortgage or the interest rate they’ll receive. Before shopping around for a mortgage or […]
Using a Home Equity Loan to Pay Off Your Mortgage?
A home equity loan is a loan that is secured using the equity in the home. This can be used for just about anything, such as for repairs or to pay off debt. You can also use it to pay off the remaining balance of your mortgage. This is usually done when there is more […]
Government-Backed Mortgages Explained: What You Need to Know
There are many different types of mortgages to choose from when it comes to homeownership. Today, many homeowners will opt for a government-backed mortgage because of the many benefits they provide. In addition, these loans are secured by a federal agency, making them easier to be approved. First, however, homebuyers should learn more about government-backed […]
7 Ways a Loan Officer Helps You From Start to Finish
When buying a home, working with a loan officer may be optional, but it is a good idea. Loan officers are available to help clients from the decision to buy a home until the closing, and can even provide some help after the buyer closes on their new home. Some of the ways a loan […]