Author: Peter Pescatore (Peter Pescatore)

The Difference Between Private Mortgage Insurance and a Mortgage Insurance Premium
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The Difference Between Private Mortgage Insurance and a Mortgage Insurance Premium

If you’re new to the home buying process, chances are you’re confused about the difference between private mortgage insurance (PMI) and mortgage insurance premium (MIP). Well we’re here to set the record straight for you. Private Mortgage Insurance PMI is an insurance policy designed to protect mortgage lenders from borrowers defaulting on their mortgage payments....

What Happens After Closing on a Mortgage?
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What Happens After Closing on a Mortgage?

Let’s start off with what a mortgage closing is. Closing, or settlement, is the last step of the homebuying process. At the closing, all necessary parties will gather to sign the final documents, and officially transfer ownership into your name, making you the legal homeowner of the property. Congratulations! That must be a big load...

Utilizing Home Equity to Your Advantage
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Utilizing Home Equity to Your Advantage

It’s typical for renters to be hesitant to take on a mortgage. Some don’t have enough for a down payment, and others are nervous about the commitment. But what many fail to realize, it that unless you have the luxury of living somewhere rent free, you are still paying a mortgage — your landlords. But...

20 Hints for Preparing Your House to Sell
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20 Hints for Preparing Your House to Sell

Selling your house can be stressful. With open houses, contacting potential buyers, and trying to get in touch with your realtor, it’s easy to see why. But it’s important to keep your eye on the prize; selling your home for the best price possible. And a big part of making that happen, is making your...

How Much Money Should You Put Down?
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How Much Money Should You Put Down?

Although most lenders recommend a 20% down payment, it’s not necessarily required. There are options for home buyers to put down much less, but it may not necessarily be the best decision for you. So, how much cash should you be putting down? Down payment definition In case you’re unsure, let’s start with what a...

Owning a Home is Still the Root of “The American Dream”
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Owning a Home is Still the Root of “The American Dream”

Mark Twain once said “The reports of my death are greatly exaggerated.” Believe it or not, this quote actually holds quite a bit of weight with regard to United States citizens and homeownership. The housing bubble burst of 2008 created an illegitimate idea that home ownership was no longer essential to fulfill “the American Dream.”...

Why Spring is a Great Time to Buy a Home
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Why Spring is a Great Time to Buy a Home

Spring has just about arrived, and if that news wasn’t good enough; it’s also a great time to purchase a home. Want to know why? Well let me tell you: Prices are only going to increase According to CoreLogic’s most recent piece on home prices in the United States, properties have increased in value by...

Your Credit Score, Your Mortgage, and You
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Your Credit Score, Your Mortgage, and You

If you’re looking to buy a home, chances are you’re going to need to take out a mortgage to finance it. Having a great credit score will provide you with better mortgage options, but what happens after you acquire a mortgage? Like any other finance option, a mortgage will have an effect on your credit...

All About Annual Percentage Rates
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All About Annual Percentage Rates

If you’re interested in obtaining a mortgage, you’ve probably heard the term APR. But if you’re a novice to the mortgage process, you probably don’t know what an APR is. An annual percentage rate (APR) is the amount you’ll pay in interest plus extra fees. Essentially, this amounts to the annual price for borrowing money...

Optimizing Your Open House Visits
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Optimizing Your Open House Visits

So you’ve decided to buy a home. Congratulations! That’s a big decision. One of the more fun and exciting parts of the home buying process is going to open houses.  You get to wander through other folk’s houses and imagine how you would decorate. Physically going to an open house helps you assess the property...