Mortgage | 30A Local Properties

6 Steps to Know When Applying for a Mortgage

If you’re thinking about purchasing a home here’s what you can expect, in a nutshell, during the mortgage application process. Know Your Budget To determine how much house you can comfortably afford you can make use of home affordability calculators available online. You’ll need a tally of your total monthly debts, and your annual income. If there’s a home in particular that you’re interested in you can input the listing price into a monthly mortgage calculator to see if it fits within your budget. It’s always good to have a clear budget in mind when home shopping so you can spend your … Continue reading...

Veterans guide to home loans

Looking for information on VA Loans. View the Veterans Guide to Home Loans. This resource offers VA loan information, such as eligibility, document requirements, and how to apply, as well as available grants and a state-by-state list of Veteran housing benefits. You can view the guide here: https://www.coverage.com/insurance/home/veterans-guide-to-home-loans … Continue reading...

2 Important Questions to Ask Yourself Before You Buy Your First Home

You’ve graduated from college, landed a solid job, and saved a significant amount of money. Now you’re seriously thinking about buying your first home. You’re pretty sure you’ll be able to handle the added responsibility. So are you ready to take the plunge? The answer is: it all depends. Here are two very important questions to ask yourself. Why Do I Want to Buy a Home? The Great Escape Mr. Smith in the apartment unit to your left plays music so loudly it could wake the dead. Is relative quiet at 3 a.m. on weekdays asking for too much? Then there’s the neighbor across the hall, Ms. … Continue reading...

5 Questions to Ask Potential Mortgage Lenders Before You Agree to a Loan

5 Questions to Ask Potential Mortgage Lenders Before Agree to a Loan

Just like everything else in life, it pays to shop around when it comes to mortgage lenders. But how do you know you're choosing one that's really right for your needs? You start by asking questions. In fact, check out this list of five questions to ask potential mortgage lenders before you agree to a loan. 5 Questions to Ask Potential Mortgage Lenders Before Agree to a Loan When you're working on your "short list" of potential lenders, call each of them and speak to a representative. Ask: How do you communicate with your clients? How long will it take to get preapproved, the … Continue reading...

What Do You Need to Get Preapproved for a Mortgage Loan?

If you're like most people buying a home on 30A, you'll need a mortgage to finance your purchase. That means you'll want to get preapproval before you start house-hunting so you know how much you can afford - and so that when you find your dream house, you can pounce on it and make an offer quickly. But what do you need to get preapproved for a mortgage? Here's what you need to know. What Do You Need to Get Preapproved for a Mortgage Loan? Before you can get mortgage preapproval, you'll need to pull together all kinds of documents. That way, you have everything ready when you fill out and … Continue reading...

Types of Mortgage Lenders

When you're buying a home for sale on 30A, you'll most likely need to work with a mortgage lender - but how do you figure out which one is best for your needs? You start by understanding the various types of lenders. Types of Mortgage Lenders These are the five main types of mortgage lenders: Credit unions Mortgage bankers Correspondent lenders Savings and loans Mutual savings banks Here's a closer look at each. #1. Credit unions Credit unions are member-owned banks that often offer the best rates to their shareholders. (Each member is a shareholder.) They used to be … Continue reading...

What to Do if You’re Turned Down for a Mortgage Loan

If you're like most people who want to buy a home, you're going to need a mortgage loan - but lenders don't just hand out cash to anyone who asks. In fact, many people who apply for mortgages get turned down. But nobody likes to hear "No" from a lender. Fortunately, if you get turned down for a mortgage, there are a few things you might be able to do to get back on track. What to Do if You're Turned Down for a Mortgage Loan First things first: You'll have to determine why the lender rejected your mortgage application so you can take the appropriate steps to get things moving again. … Continue reading...

3 Mistakes That Can Cost You Your Mortgage

When you're buying a home on 30A, you're probably going to need a mortgage loan. Most people do. But there are a few things that can quickly derail your plans, even if you've already been approved for a mortgage. Check out these three big mistakes people make that end up costing them the deal. 3 Mistakes That Can Cost You Your Mortgage Three of the most common mistakes that people make include: Moving money around Applying for new credit Taking a new job Each of these things can literally wreck your real estate deal. At the very least, they can delay your closing - and that … Continue reading...

What Do You Need for Mortgage Preapproval?

If you're like most people who are buying a home for sale on 30A, you're going to need a mortgage loan - but your first step is preapproval. In order for a lender to preapprove you for a mortgage, you'll need several documents (and more than usual if you're self-employed). Here's what you need to know. What Do You Need for Mortgage Preapproval? Mortgage preapproval is different from prequalification. In preapproval, the lender actually checks your credit and looks at your financial statements to make a decision on letting you borrow money. In prequalification, you don't have to show any … Continue reading...

Mortgage Basics Every Buyer Needs to Know

Buying a home - at least on the financial end of things - can be a confusing process. Here's what you need to know about mortgages before you start applying for yours. Mortgage Basics Every Buyer Needs to Know When you apply for a mortgage, you have to do your homework. Consider this a great start! The higher your credit score is, the more favorably lenders look at you Don't make any big financial changes before you buy a home You absolutely need preapproval Credit Scores The higher your credit score is, the more favorably lenders will look at you when they're deciding whether … Continue reading...