17 Oct 2023
By Tawnya King
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3 Important Tips When Making a Down Payment for a Home

Home Mortgage
When it comes to purchasing a home, one of the most significant financial decisions you'll make is how much to put down as a down payment. Your down payment not only affects the amount you need to borrow but also plays a vital role in determining your mortgage interest rate and overall financial stability. Here are three crucial tips to keep in mind when making a down payment for a home: Determine Your Budget and Financial Goals: Before you start setting aside money for a down payment, you must understand your budget and financial goals. Assess your current financial situation,…
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16 Oct 2023
By Tawnya King
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What’s Ahead For Mortgage Rates This Week – October 16, 2023

Financial Reports
Last week’s economic report schedule included notable reports with the CPI & Core CPI in addition to PPI and Core PPI. Many markets are keeping a close eye on the inflation numbers for the U.S. as well as many other parts of the world to help guide their policies. Other notable reports were MBA Mortgage Applications Index and the University of Michigan Consumer Sentiment Report (Prelim.) Consumer Price Index With current inflation data, the Federal Reserve has hinted that they are close to ending their rate-hiking cycle for the future. This reflects a greater optimism for a soft landing in…
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13 Oct 2023
By Tawnya King
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The LTV Ratio How Loan to Value Works and Why You Need to Understand This Ratio

Mortgage
Are you in the market for a new home? If you plan on using mortgage financing to buy your next home you've likely heard the phrase "loan-to-value" or the acronym "LTV" before. Let's take a quick look at the loan-to-value ratio including why it's important, how to calculate it, and how it can affect your mortgage. What is the Loan-to-Value or LTV Ratio? In short, the LTV ratio is a number that compares how much money you owe against your home with its resale value in the marketplace. A low LTV ratio indicates that you have far more equity in…
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12 Oct 2023
By Tawnya King
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What Makes Up A PITI Mortgage Payment?

Mortgage Tips
Many mortgage payments are made up of four parts, called PITI. PITI is an acronym that stands for principal, interest, tax, and insurance. It's important to understand PITI because it is the real number you need to use in order to find out how much mortgage you can afford to pay each month. One of the biggest mistakes first-time homebuyers make is using only the principal plus interest figure to calculate how much they'll be paying every month for their mortgage. Then, when the lender comes back and denies them, the prospective buyer is confused. Knowing and understanding PITI will…
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11 Oct 2023
By Tawnya King
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Worried about Your FICO Score? 4 Easy Strategies to Fix It Up

Homebuyer Tips
If you're worried about your bad credit, you'll want to do everything in your power to improve your rating as quickly as possible - especially if you have a major purchase coming up. Improving your credit rating can give you access to better interest rates on mortgages or even help you get that job you're after. IMPORTANT! If you are currently involved in a home loan transaction, speak with your trusted mortgage lender before taking any action regarding your credit! So how can you boost your FICO score quickly and easily? Here's what you need to know. Get Your Credit Report…
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10 Oct 2023
By Tawnya King
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Why You Should Compare Different Mortgages

Uncategorized
Comparing mortgages is a crucial step in the process of buying a home or refinancing an existing mortgage. Here are some reasons why: Save Money: Comparing mortgages can help you save money by finding the best interest rates and terms available. A lower interest rate can mean thousands of dollars in savings over the life of a mortgage. Avoid Pitfalls: By comparing mortgages, you can avoid pitfalls such as hidden fees, penalties, or other unfavorable terms that can cost you money and cause financial stress. Negotiate Better Terms: If you have a good understanding of what's available in the mortgage…
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09 Oct 2023
By Tawnya King
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What’s Ahead For Mortgage Rates This Week – October 9, 2023

Financial Reports
The previous week offered a blend of economic updates, covering a report on the jobs market and weekly changes in mortgage rates. The Jobs Report Was Released This week, the monthly jobs report was released by the United States Bureau of Labor and Statistics. It showed that the job market completely exceeded all expectations, adding 336,000 jobs during the month of September. That was far higher than the expected number of 170,000. It also represents a significant increase when compared to August, where the economy added a revised total of 227,000 jobs. The unemployment rate remained relatively steady, coming in…
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