22 Aug 2023
By Tawnya King
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Reasons You Need an Insurance Binder and How to Get One

Mortgage
An insurance binder for mortgage loans is a document that provides proof of insurance coverage for a property that is being financed with a mortgage loan. Mortgage lenders require borrowers to have insurance coverage on their property to protect their investment in case of damage or loss. When a borrower applies for a mortgage loan, the lender typically requires proof of insurance coverage before they will approve the loan. An insurance binder is a document issued by the insurance company that provides temporary proof of insurance coverage until the official insurance policy is issued. The insurance binder for mortgage loans…
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21 Aug 2023
By Tawnya King

What Do Appraisers Consider When Valuing a House?

Mortgage
Appraisers consider several factors when valuing a house to determine its fair market value. The goal of the appraisal is to provide an unbiased and accurate assessment of the property's worth. Here are the key factors appraisers consider: Location: The location of the property is one of the most critical factors in determining its value. Proximity to amenities such as schools, shopping centers, parks, public transportation, and the overall desirability of the neighborhood can significantly influence the value. Size and layout: The square footage and layout of the house play a crucial role in its valuation. Larger houses generally have…
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18 Aug 2023
By Tawnya King
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Opportunities and Challenges When Buying Foreclosed Properties

Homebuyer Tips
Foreclosed properties have long been considered attractive investment opportunities for real estate enthusiasts. These properties, acquired by banks or other lending institutions due to mortgage default, can often be purchased at below-market prices. However, along with the potential rewards come unique challenges that buyers must navigate. Opportunities: Cost Savings: One of the most significant advantages of buying foreclosed properties is the potential for cost savings. These properties are typically sold at a discount to their market value, allowing buyers to acquire real estate at a lower price. This can provide excellent opportunities for house flippers, rental property investors, or even…
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10 Aug 2023
By Tawnya King

Disputing Your Property Tax Assessment Can Save You Money

Mortgage
Property taxes can be a substantial financial burden for homeowners and property owners. Each year, local governments assess the value of properties to determine the amount of property tax owed. However, these assessments are not always accurate and can result in higher tax bills than necessary. Disputing your property tax assessment is a proactive way to potentially save money and ensure you're paying a fair and equitable amount. Reasons for Flawed Assessments: Property tax assessments are not immune to errors and discrepancies. Several reasons can lead to an inaccurate evaluation of your property: Market Value Misjudgment: Assessors may rely on…
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08 Aug 2023
By Tawnya King

Understanding the Distinction Between Mortgage Interest Rates and APR

Mortgage Rates
When it comes to securing a mortgage, borrowers are often confronted with various terms and figures that may seem confusing at first glance. Two key components that play a significant role in determining the cost of a mortgage are the interest rate and the APR (Annual Percentage Rate). Though they are related, it is crucial to understand the difference between them to make informed decisions while comparing different loan offers. This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently. Mortgage Interest Rate The mortgage…
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04 Aug 2023
By Tawnya King

Will Buying A New Car Impact The Ability To Buy A New Home?

Mortgage
Making major life decisions often involves a delicate balancing act. Among the most significant choices individuals face are buying a new car and purchasing a new home. Both ventures represent milestones in one's life, bringing excitement and anticipation. However, there is a complex interplay between these two financial endeavors that can significantly impact a person's ability to achieve their dream of owning a new home.  Here are some factors to consider: Debt-to-income ratio: When you apply for a home loan, your lender will consider your debt-to-income ratio (DTI) to determine whether you qualify for a mortgage. Your DTI is the…
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