Are you thinking about buying a new home? If you're going to apply for mortgage financing, you can rest assured that your lender will be checking in to your credit history, income and other items in order to assess your ability to manage this debt. However, there also quite a few variables that they won't inspect during the due diligence process. In today's blog post we'll look at five factors that a lender or mortgage underwriter won't consider when assessing your suitability for a mortgage … [Read More...]
If you're moving to a new city with children, one of your likely considerations is finding a family-friendly community where you can settle in and call home. In this post we'll share a handful of tips that you may find helpful if you're searching for a family-friendly neighborhood in a new city. Check Out The Quality Of Local Schools Schools are one of the cornerstones of a community and high-quality schools are a sign that a community is suitable for your family. When you've made your short … [Read More...]
Are you buying a home for the first time? Congratulations! Buying your own home is an excellent way to build your net worth while living in a space that you can renovate and truly make your own. If you're going to be taking out a mortgage to help pay for the up-front costs of your home, you'll want to get a head start on the approval process. With that in mind, below are four handy tips to ensure that your mortgage application is approved on your first try. Gather All Of The Necessary … [Read More...]
Are you thinking about buying a new home? Congratulations! Buying a house, condo or townhouse is an exciting and rewarding time which tends to be a lot of fun. However, along the way you'll need to make a number of decisions – including whether you want to buy a pre-owned home or one that has been built recently and is brand new. Let's take a quick look at some of the pros and cons of buying a new home versus buying pre-owned. New Homes Tend To Have Fewer Problems One of the major upsides … [Read More...]
Whether you're a freelance web designer who spends their days working from a coffee shop or a small-business entrepreneur with a team of staff, if you're a self-employed individual and you're thinking about buying a new house you may face some difficulty getting approved for a mortgage. In today's blog post we'll share how you can provide paperwork and other evidence to show your mortgage lender that you're a quality applicant who has the ability to make their payments. Have Your Accountant Prep … [Read More...]
If you're in the process of buying a new home, you've likely heard the term "closing costs" in regards to the many different fees and taxes that you'll be required to pay during the purchase process. In this post we'll look at a number of these closing costs and what you will be expected to pay when you buy that next dream home. Taking out a Mortgage? There Will Be Fees Attached If you're taking out a mortgage to finance the cost of buying your home you'll end up incurring a variety of fees. … [Read More...]
Buying a home is a major financial transaction, especially if you're going to need mortgage financing to help cover the purchase cost. The only way to know if you're getting the best deal on a mortgage is to shop around, but with so many different lenders vying for your business it can be very tough to choose which mortgage is the best fit for your own situation. In this post we'll share how you can compare mortgages from different lenders or underwriters so that you can get the best possible … [Read More...]
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Disclaimer: The calculated results shown above are based on conventional loan program guidelines. Other loan programs are available and may provide results that better fit your individual needs. Calculations completed within this tool are estimates and are not guaranteed to be accurate.