Mortgage

04 Jan 2022

An Overview Of Mortgage Points

Mortgage

There is a lot of terminologies involved in the mortgage application process, and one common term people come across is a mortgage point. What exactly is a mortgage point, and how might impact the price of the loan? What Is A Point? Points represent fees due at signing. Some lenders charge points while others do not. In some cases, applicants are given the option to pay points in exchange for a rate reduction. A single point is the equivalent of one percent of the loan's value. If the home loan is $200,000, then a single point is $2,000. Origination Points…

15 Dec 2021

By Tawnya King

How Long To Save Mortgage Documents

Mortgage

Purchasing a house involves a tremendous amount of paperwork. There is even more paperwork involved if the buyer goes through a lender. With so much paperwork, some homeowners might be wondering how long they have to keep all of these documents. Ideally, homeowners should keep these documents for the life of the loan, but there are a few other points to consider. What Documents Come With The Home? Even though the exact documents that come with the home can vary depending on the type of purchase, there are a few common pieces of paper. The deed is one of the…

14 Dec 2021

By Tawnya King

Housing Needs May Change Following Retirement

Mortgage

Life has changed for a lot of people during the past few years. Some people reached retirement age while other people decided to retire early due to other reasons. As the baby boomer generation reaches retirement age, millions more people are going to retire during the next few years. As a result, they might be thinking about moving to make some of their dreams come true. At the same time, retirement might change what people need in a home. What are some of the most important factors retirees need to consider when looking for a home? Moving Closer To Loved…

08 Dec 2021

By Tawnya King

Tips For Selling A House During The Winter Season

Mortgage

The most popular time of year to sell a home is the summer. There are a lot of families with children who prefer to move during the summer because they do not want to move their children during the school year. In contrast, many people do not like to move during the winter. It can be difficult to request extra time off of work, particularly during the holiday season. At the same time, it is still possible to sell a home during the winter. What are a few tips homeowners need to follow to sell a home during the winter? Maximize…

03 Dec 2021

By Tawnya King

An Overview Of A Deed Of Reconveyance

Mortgage

When someone purchases a house, they might have to take out a loan. Because a house is expensive, most people end up with a mortgage. Some people decide to go with a 15-year mortgage while other people decide to go with a 30-year mortgage. Eventually, after all these years, someone might receive a deed of reconveyance. What does this mean, and how does it work? Homeowners Own The House, But With a Lien After purchasing a house, homeowners legally own the house, even if they have financing tied to a mortgage. Even if someone purchases a home with only 3.5…

01 Dec 2021

By Tawnya King

Overcoming Anxiety as a First-Time Home Buyer

Mortgage

There are many people who are thinking about buying a home for the first time. Even though this is an exciting experience, there are also people who develop anxiety when purchasing a home. This is a major financial decision, and it is critical to get it right. What do people need to do if they want to overcome anxiety as first-time homebuyers? Maximize The Credit Score Before applying for a home loan, everyone should maximize their credit score. Everyone has the right to request one free credit report per year. This is an opportunity for people to take a look…