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Category: First-Time Homebuyer

July 14, 2020

What Makes up My Mortgage Payment?

After weeks of browsing house hunting websites, driving neighborhoods, and touring a few select open houses, you're ready to buy your dream home. Unless you plan on paying cash, you'll likely need a home loan. As long as you can find a mortgage with payments that don't exceed your monthly budget, any loan will do, right? Maybe not.

July 07, 2020

Buying a Home in PA During COVID-19: What to Expect

COVID-19 has changed every aspect of our lives, including home buying. Like other states, Pennsylvania recently eased social distancing requirements and updated real estate market health and safety best practices. While buyers are eager to come out of hibernation and take advantage of the lowest 30-year fixed mortgage rates in history, taking time to understand current market conditions and updated safety precautions could make the home buying process less stressful.

June 08, 2020

3 Foolproof Ways to Remodel on a Budget

When funds are sparse, but creativity is abundant, tackling budget-friendly remodeling projects might be the answer. Simple, low-cost makeovers can add value to your home while showcasing your unique personality. There's no need to hire a team of experts. Focusing on small changes can keep costs down and result in the updated look you desire - no contractors, architects, or designers required.

May 11, 2020

Shopping for a Home? Improve Your Credit Score First

Financial missteps of the past can rear their ugly heads at the worst possible times. As you navigate the mortgage process, expect a spotlight to shine on your credit score. This numerical representation of your credit history plays a significant role in loan approval. While the score needed to secure financing on your new home will largely depend on the loan type, e.g., Conventional, FHA, USDA, VA, etc., a record of late payments or high credit utilization can limit your financing options.

April 10, 2020

How Credit Affects Your Home Buying Options

Rising property values and shrinking inventories make for a competitive housing market. You’ve probably witnessed homes that initially fell within your home buying budget succumb to a bidding war before vanishing from MLS listings, often within days. It can make you question whether homeownership is possible.

March 26, 2020

Types of Mortgage Loans: A Quick Comparison

If you’re shopping for a new home, figuring out financing options is likely on your to-do list. The earlier you learn about your mortgage choices, the more time you have to prepare financially for closing. While this is good news, it doesn’t make reviewing home loan details feel less intimidating. A vast array of possibilities, lengthy explanations, and confusing terms can make it seem like you’ve enrolled in a college-level finance class against your will.

October 11, 2019

How Student Loans Affect Mortgage Eligibility

A college education is associated with increased earnings, fewer periods of unemployment, and greater job satisfaction.[1] However, paying for college without incurring debt remains a challenge. Tuition, fees, and living expenses often surpass the amount set aside in college savings plans or available through federal and state grant programs. For many students, scholarship opportunities are limited, leaving loans as the…

September 30, 2019

3 Things You Can’t Afford to Ignore During the Mortgage Process

A mortgage loan can turn the dream of homeownership into a reality. Completing a mortgage loan application, gaining loan approval, and closing on the loan are necessary steps before unlocking the door to your new home. But, the mortgage process is about much more than meeting these critical milestones.

May 23, 2019

Private Mortgage Insurance Myths Debunked – Why PMI Can Be Good

Despite fluctuations in the economy, home values continue to climb.  Reuters reported in June 2018 that U.S. housing prices are expected to rise at twice the speed of inflation and pay. But, what does this mean for renters who are trying to save for a down payment and are doing so at a much slower rate?

Contact us and we’ll answer your questions.