Joseph Escamilla

Most people want to know what they can do to get a lower interest rate. When a person thinks about all the ads that are “out there,” showing how certain banks or lenders are offering the lowest mortgage rate or lowest interest rate possible, it’s no question why this is everyone’s main focus when they begin searching for a home loan. For those who are searching for a home loan and want to get the right mortgage rate, there are certain things they need to understand. How Lower Interest Rates May Wind Up Costing More To fully understand how this

Investing in real estate offers lucrative benefits. These investments can generate a steady flow of income, allowing owners to capitalize on their efforts and improve their financial outlook. Those who want to get started in real estate investment have many options. Investors must decide whether to invest in multi-family or single-family dwellings. Which of these is the best investment? Both have pros and cons, depending on a person’s investment needs. Understanding the Differences Between Single-Family and Multi-Family Homes Those new to investing in real estate may not understand the differences between single-family and multi-family dwellings. A single-family home is a

It may seem like a far-off dream to be able to purchase a home after a bankruptcy. After all, a bankruptcy does stay on a credit report for up to 10 years, and it’s not something lenders want to see when they’re thinking about loaning money to a client. However, it’s not always necessary to wait 10 years to be able to purchase a home, and there are some things the person can do to make it easier to obtain a mortgage and buy a home faster. How Long to Wait Before Looking While it isn’t necessary to wait the

Escrow is one of those terms commonly used in real estate that many people may not understand if they’re buying a home for the first time. Escrow is basically a temporary account held by a third party to make sure funds are properly held until certain conditions are met. In real estate transactions like buying a home, escrow can be used at two different times, but will generally be done the same way in both instances. Reasons for Escrow in Real Estate Escrow is used to protect funds until they are used and any conditions from either party are satisfied.

Don’t Waste Any More Money Renting – Get a Home Loan and Buy a Home! For those of you renting, wouldn’t it be nice to put that money toward a new home? Even if you don’t plan on staying in your home for a long time, it makes perfect sense to purchase a home and start building equity today. Fellowship Home Loans is a mortgage company that can help you find the perfect loan that is manageable and attainable. We have many loan products to offer you, and we are sure that we can find an excellent loan option based

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 out.  This will mean less competition for buying a home.  You will be able to make buyer friendly offers on homes.  During the pandemic we saw rabid home buying that included sky high offers and waiving standard conditions such as home inspections.  You can expect

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 our various philanthropic efforts, but some of our favorite events are giving back to the kids. Every day we strive to help homeowners begin a great life for their family and children in their own home. So to keep that goal in mind we surround

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 a Mortgage Pre-qualification is usually one of the first steps taken when buying a home. The buyer will work with a lender to get an estimate of how much they can borrow after a credit check and providing minimal information about their current finances. During

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 by the seller. Be Pre-Qualified Many people who look at homes have received information about how much they might qualify for, but they’re not qualified. Being pre-qualified makes a huge difference, as it shows the seller you’re serious about what you can borrow to pay

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 makes an offer on a home, giving the buyer a higher chance of their offer being accepted. When it’s time to start looking around, start with a pre-qualification. The following steps make this easy to do. Visit the Lender’s Website Always take a look at