Mortgage Lending

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Mortgage Lending Essential Checklist: What to Prepare When Getting Pre-Approved for a Mortgage So, you have made the epic decision to embark on the journey of buying a home. Congratulations! You are here – getting pre-approved for a mortgage. This step not only gives you a clearer picture of your budget but also demonstrates to sellers that you’re a serious buyer ready to make a move. To ensure […]
Mortgage Lending Understanding Mortgage Pre-Approval vs. Pre-Qualification: Which is Right for You? In the journey of purchasing a home, navigating through the financial aspects can be as daunting as searching for the perfect place to call home. Among the critical steps is understanding “how much can I afford”.  You might hear “pre-approval and pre-qualification” and wonder which one do I do. While both are essential in the […]
Mortgage Lending Mortage PITI – Principle, Interest, Taxes and Insurance – Not a PITI party… The acronym PITI stands for Principal, Interest, Taxes, and Insurance, which are the four components that make up a borrower’s monthly mortgage payment. Understanding PITI helps borrowers budget for the total cost of homeownership, including not only the loan repayment but also ongoing property taxes and insurance. It ensures that homeowners are financially prepared for […]
Mortgage Lending Mortgage Products – Fixed, Adjustable, FHA, VA and USDA – Oh my! There are several types of mortgage products available to homebuyers, each with its own features, advantages, and considerations. Here’s an overview of some common types: Fixed-Rate Mortgage (FRM): Description: With a fixed-rate mortgage, the interest rate remains constant throughout the loan term. Advantages: Predictable monthly payments, protection against interest rate fluctuations. Considerations: Initial interest rates […]
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