Mortgage Rates Fall for Second Week in a Row
KEY TAKEAWAYS Average mortgage rates in Florida fell to their lowest level since mid-March this week. According to Freddie Mac, the average interest on a 30-year, fixed-rate loan is 6.77%, down 12 bps from last week. The mortgage rates in Florida have been trending down since early May, despite a couple of bumps here an […]
Adjustable Mortgage vs. Fixed Rate Mortgage: Which is Better for You
Buying a house is one of the most significant investments you will ever make, and that means your mortgage is probably one of the largest commitments you will ever have.
The questions a mortgage lender is likely to ask
Millions of mortgage applications are completed and sent to lenders each year. Part of the steps required include the lender gathering information about you—and sometimes those questions can seem invasive. Most of the questions are required as part of your approval. Let’s take a look at the things a mortgage lender will ask. Credit Lenders […]
Need to use your 401(k) for a down payment? Here’s how.
Setting aside funds for a down payment for a home loan isn’t easy. Buyers obtaining a traditional loan need at least 20 percent as a down payment; otherwise, private mortgage insurance (PMI) will be required. That can add a significant amount to pay on top your mortgage payment. Today, the median home listing price in […]
Honesty on Your Mortgage Application: Your Future Depends On It
While it may seem harmless to alter your information on your mortgage application, you don’t want to over inflate your income or fail to reveal where the down payment funds originated. Everyone wants to get the best loan they can afford at the best rates. But if you lie on that mortgage application you risk […]
Do you need a realtor?
The short answer is no, but not using a realtor, instead thinking you can use the internet as your only means of information is short-sighted. From researching the projected cost of utilities to local zoning restrictions, you’re going to invest countless hours in research before making an offer. As a buyer, and especially as a […]
Making a Mortgage Plan
If you’re shopping for a new home, you can calculate the home price you can pay and the mortgage schedule you will need based on the payment, down payment, taxes, and insurance you can afford. Fixed-rate mortgage Keeping the loan for the full loan term, such as 30 years, and making all of your payments […]
What does the government shutdown mean for my mortgage?
When the government shuts down, who gets hit hardest among people needing a home mortgage? The latest version of federal breakdown made one fact painfully clear: It all depends on the type of loan you’re shopping for, or already had in progress. For many borrowers a VA (Department of Veterans Affairs) mortgage or FHA (Federal […]
How to Stage Your Home for Sale
If you are planning to mortgage a house in Florida, surely you are hoping to sell your current home as quickly as possible and get your asking price. Set the stage for success with these tips for styling and upgrading your home and see results. Curb appeal is paramount Many people do a quick drive-by […]
Buying a Home? You’ll Need Insurance.
It’s overwhelming to think about the numerous types of insurance available during the home buying process. You already have so much to do between packing, scheduling movers, and closing on your home. Do you really have to jump through more hoops? Unfortunately, yes. No sensible car owner would drive without insurance, so it figures that […]
