Why is Pre-Qualification Important?
As exciting as it is to be buying a new home, it can also be a stressful time. With rising interest rates and a competitive housing market, you want to be as prepared as you can be to show sellers how serious you are about buying. Taking this easy pre-qualification step with a trusted West […]
Where Do I Start When Buying a House?
Buying a home doesn’t have to be a scary process if you are asking yourself the right questions. When considering buying a home, start by gaining clarity about what you want in a home.  Understanding your finances and budget is crucial when making such a big decision. Many factors go into finding the perfect home […]
Mortgage Refinance
Mortgage Loan Basics When a person is looking at purchasing/refinancing a home, they often take out a mortgage loan to pay for this transaction. A mortgage loan term typically ranges from 10 years to 30 years. A traditional mortgage loan has principal and interest payments for the life of the loan. In addition to the […]
Mortgage Review
Things to Bring With You When you meet with your banker, you will need a current mortgage statement that shows: the outstanding loan balance your monthly payment current interest rate how much escrow (taxes and insurance) is collected monthly If you are looking at a cash-out refinance to consolidate debt, bring current statements for the […]
3 Things You Need to Know About Pre-Qualification
Pre-Qualification is a term that means the bank has taken a preliminary look at your stated assets/income/credit to give you and your realtor a ballpark figure of what you may qualify for up to a specific amount. You are not actually approved for that much until the bank is able to look at your documentation and […]
How Much House Can I Afford?
The VA Loan is a home-mortgage option available to United States Veterans, Service Members and not remarried spouses. VA Loans are issued by qualified lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). The USDA Guarantee loan is a 100% financing mortgage for moderate-to-low income homebuyers in eligible rural and suburban areas. Loans are issued through the USDA Rural Development  Guaranteed Housing Loan […]
Five Questions for First Time Homebuyers
Moving into your own place can be exciting and frightening at the same time. The American Bankers Association suggests considering the following questions when choosing your own home. 1.   How much money do you have saved up? Start with an evaluation of your financial health. Figure out how much money you have for a down […]