Mortgage

VA loans offer eligible veterans, active-duty service members, and surviving spouses affordable home financing. Key benefits include no down payment, no private mortgage insurance, and competitive interest rates. VA loan eligibility requirements include specific service periods or surviving spouse status. Lenders assess credit, debt-to-income ratio, and income to determine qualification. A Certificate of Eligibility (COE) […]

Refinancing can be an effective way of eliminating PMI through refinancing, especially if home values have risen or significant equity has been built. PMI, required with down payments under 20%, increases monthly mortgage payments. Refinancing to a new loan with at least 20% equity removes this cost, potentially lowering interest rates and saving money. Other

Are Longer Mortgages the Key to Affordable Homeownership or a Barrier to Building Equity   If you’re considering buying a home or refinancing for the first time, you’ve probably come across the term 40-year mortgage. It’s an intriguing option, especially if you’re looking to keep monthly payments low. But have you ever wondered  how a 40-year

Refinancing replaces your current mortgage with a new one, often for better terms. A lower credit score can significantly impact refinancing terms, increasing interest rates and limiting loan options. This Impact of credit score on refinancing terms can result in higher monthly payments. However, refinancing may still be beneficial to reduce monthly payments, leverage substantial

When it comes to managing your mortgage, especially if you’re a veteran or an eligible spouse, you have two significant options to consider: VA loan assumption advantages and drawbacks. Both methods have their own set of benefits and drawbacks, and understanding these can help you make an informed decision that aligns with your financial goals.

Mortgage seasoning is a period lenders use to assess financial stability and legitimacy of funds for refinancing. Seasoning period requirements for refinancing vary by loan type; conventional and FHA loans typically require six months after the original loan closing with consistent mortgage payments. Cash-out refinances also generally require six months. For homes purchased through foreclosure

Is the Sunshine State still the best bang for your buck compared to its southern neighbors? Let’s explore how Florida stacks up in terms of affordability, lifestyle, and opportunities for 2024.   Whether you’re a first-time homebuyer, a seasoned investor scouting your next purchase, or a real estate professional guiding clients, understanding the cost of living

When applying for a land loan, several common mistakes can hinder the process. “Mistakes to Avoid When Applying for Land Loans” include neglecting due diligence on zoning and land use, underestimating the down payment (often 20-50%), ignoring soil and environmental tests, choosing a lender without land loan expertise, and overlooking additional costs like taxes and