How Does a Cash-Out Refinance Work?
October 20, 2021 | 5 min read | Refinance, The mortgage process
Now is a great time to refinance as interest rates remain at all-time lows, and many homeowners are sitting on untapped equity. Your mortgage should change with your evolving financing needs, so if you have equity in your home and are looking for ex...
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How Long is a Mortgage Pre-Approval Good for and Why are They Important?
October 12, 2021 | 3 min read | The mortgage process
In today’s competitive real estate market, pre-approvals are more crucial than ever. Before you start the home buying process, it’s essential to understand the basics of the mortgage pre-approval process and how it may help you purchase you...
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What is Included in a Mortgage Payment?
October 8, 2021 | 3 min read | The mortgage process
If you are thinking about buying a home or reviewing your current loan terms, you may be wondering what is included in your monthly mortgage payment. Your monthly payment will consist of the principal, interest, taxes, and insurance, and w...
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What is an Appraisal? The Home Appraisal Process
October 6, 2021 | 5 min read | The mortgage process
Appraisals are a standard part of the home buying process, usually required on a purchase and refinance transaction. This page will outline everything you need to know about the home appraisal process ranging from preparing befor...
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What is Mortgage Insurance?
September 23, 2021 | 2 min read | Owning a home, The mortgage process
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 mo...
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How Long Does it Take to Build Credit?
September 21, 2021 | 4 min read | The mortgage process
Having an established credit history tells a story of how you have handled monthly debt obligations in the past and helps shed light on what type of borrower you may be. If you don’t have an established credit history or are looking to improve you...
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What are the 5 C’s of Credit?
September 21, 2021 | 3 min read | The mortgage process
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 c...
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What is a Gift Letter for a Mortgage?
September 20, 2021 | 3 min read | The mortgage process
If you are thinking about buying a home, you should consider how much money you will have for a down payment. A down payment is one of the highest up-front costs to purchasing a home. Many people, especially first-time homebuyers, rely on ...
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How to Choose a Mortgage Lender: Questions to Ask When Shopping for a Mortgage
September 15, 2021 | 3 min read | The mortgage process
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 co...
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Should I Lock my Mortgage Rate Today? Questions to Consider
September 2, 2021 | 3 min read | The mortgage process
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 paymen...
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