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 […]
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 […]
15 Year Mortgages: Are They Worth It?
The two most common types of mortgages are the 15-year and 30-year mortgages. While payments may be higher with a 15-year mortgage, it does allow for the home to be paid off faster. Whether someone is looking at a mortgage for a new home, an investment property, or to refinance their current home, opting for […]
Things Most Veterans Don’t Know About VA Home Loans
For veterans, buying a home can be made easier by using a VA home loan. Unfortunately, all too many service members are not aware that they’re eligible or how the process works. They might not know about all the benefits of using a VA home loan can include. Learn more about VA home loans now […]
Mistakes First Time Homebuyers Make – And How to Avoid Them
When the decision is made to buy a home, it’s all too easy to jump right in and start looking at homes for sale. Unfortunately, there are many mistakes that first-time homeowners make which can have disastrous or expensive results. Instead, before jumping in, learn more about the common mistakes first-time homebuyers make and how […]
How to Use a Mortgage for Tax Deductions
When most people think about mortgages, they consider how much they’re spending each month. What many don’t realize is that there is a way to save money as well. When someone is paying a mortgage, they can use that for certain tax deductions, which reduces their tax liability for the year. This could lead to […]
Getting a Mortgage if You’re Self-Employed
When mortgage companies look at applications, they look for those who have a consistent income, as those applicants are more likely to be able to pay their mortgage on time every month. Self-employed individuals may not have paystubs like those who are employed, so it can be more difficult to prove worthiness for a loan […]
What To Know About Buying a Vacation Home
It’s spring, and though travel has been curtailed for the last year, it’s now time to start thinking about where you’ll go and what you’ll do. Buying a vacation home sounds like a great opportunity, but is it going to be everything you expect? As with other major financial decisions, it’s ideal to consider the […]
