Home Buying Process Step by Step: 2021 Guide on How to Buy a House
One of the most significant decisions that anyone can make in their life is purchasing a home. If you are a first-time homebuyer, you may be wondering, “I want to buy a house; where do I start?” Our goal is to make the home buying process as seamless and stress-free as possible. That is why […]
What is a Condop? How to Get a Mortgage for a Condop
A condop is a mixed-use building found in New York City rarer than traditional condos or co-ops. It is referred to as a condop because of a co-op forming within a condo.
Tricks to Lower Your Debt-to-Income Ratio when Applying for a Mortgage
What is a Debt-to-Income Ratio? Your debt-to-income (DTI) ratio compares your monthly debt expenses to your monthly income. This evaluates how much debt you have and your ability to repay those debts with your current income stream. How to Calculate your Debt-to-Income Ratio To calculate your DTI ratio, you must add up all of your […]
What is Mortgage Insurance?
Mortgage insurance is an insurance policy that protects the mortgage company if you happen to default on your loan. There are different insurance policies that may be required when buying a home, but primate mortgage insurance (PMI) is one of the most common. When is PMI Required? This type of insurance is required on conventional […]
What are the 5 C’s of Credit?
The 5 C’s of credit are a way for financial institutions to evaluate how responsible and trustworthy you are based on your ability to handle and repay debt obligations. This is also referred to as your ‘creditworthiness.’ The 5 C’s include conditions, character, collateral, capital, and capacity. The Components of the 5 C’s of Credit […]
How to Choose a Mortgage Lender: Questions to Ask When Shopping for a Mortgage
A significant question people face during the mortgage process is determining which mortgage company to choose. Just remember, choosing the right lender is not always about getting the lowest rate. Many prospective borrowers spend countless hours comparing rate quotes from different mortgage companies but often overlook other critical factors that may determine a positive mortgage […]
Should I Lock my Mortgage Rate Today? Questions to Consider
Mortgage rates have remained at historic lows, and may rise, so people may be wondering, “Should I lock in my mortgage rate today?” Mortgage rates fluctuate often, so we recommend locking in that rate if you are quoted a rate with monthly payments that fit within your budget. Use this mortgage amortization calculator to see which monthly […]
Questions to Ask When Refinancing Your Mortgage
With rates at historically low levels, many homeowners can lower their mortgage payments or get cash-on-hand for significant expenses. We have answered some common questions when refinancing, which may help you determine if now is and the right time for you and which mortgage company you should work with on your refinancing journey. What are the Types […]
7 Different Styles of Homes in the U.S. and Their Origins
When buying a home, you may want to look at homes with varying architectural and design styles. Familiarize yourself with the most popular types of homes in the U.S. to see which one is right for you! Cape cod Cape cod homes date back to the late 1600s and were a popular home style in the […]
5 Tips to Cut Down your Energy Bill This Summer
Are you looking to stay cool without an energy bill through the roof? Here are a few tips on how you can keep cool and reduce your energy costs! Adjust your thermostat Try to keep your thermostat at a temperature cool enough to keep you comfortable, and then bump it up one degree. If you have […]