Category: Mortgage Process

How to Get Pre-approved for a Mortgage
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How to Get Pre-approved for a Mortgage

If you’re planning to purchase a home, it’s recommended that you get a pre-approval before you actually start looking. Essentially, a pre-approval is a backing from a lender that proves you are qualified to borrow X amount of money at a specified interest rate. Why is a pre-approval important? A pre-approval is important because it...

What Does a Loan Originator Do?
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What Does a Loan Originator Do?

Although there are numerous people involved in the mortgage process, perhaps the most important individual is the loan originator. So, what exactly does a loan originator actually do? And how do you know you’re working with a good one? What does it mean to be a mortgage loan originator? A loan originator, sometimes referred to...

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...

Myths About Refinancing a Mortgage
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Myths About Refinancing a Mortgage

If you currently have a mortgage, chances are you’ve heard of refinancing. And if you’ve heard of refinancing, chances are you’ve heard a multitude of reasons why you shouldn’t refinance your mortgage. The truth is, refinancing isn’t for everyone. But it can have tremendous benefits, primarily lowering your interest rate. Therefore, it is important to...

What Exactly Does an Underwriter Do?
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What Exactly Does an Underwriter Do?

What Exactly Does an Underwriter Do? Although you’ll most likely never meet them, the underwriter is probably the most important person in the home loan process. If you don’t get an underwriter’s approval, you don’t get a mortgage. It’s the underwriter’s job to look over the figures, double check the documentation, and confirm that you...

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...

The Home Appraisal Process at a Glance
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The Home Appraisal Process at a Glance

Despite being an integral part of the home buying process, getting a home appraisal isn’t typically something that home buyers are concerned with. To be honest, the home appraisal process isn’t all that alluring. But it is one of the most important aspects of the real estate market. Whether you’re buying a home, or selling...

VA Loan Benefits
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VA Loan Benefits

A VA loan is a special loan that is available to all Unites States Military Veterans. These loans are back by the Department of Veteran Affairs and have a variety of benefits. Benefits One of the most noticeable benefits of a VA loan is that there is no down payment required. Other loans such as...

What are Closing Costs?
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What are Closing Costs?

When you sit down to sign the papers to buy a home, you will most likely be required to pay closing costs. Mortgage closing costs are the fees associated with the home buying and lending process. What is included in my closing costs? The types of closing cost fees can vary based on region, property...

The Top 4 Reasons You Should Get a VA Loan
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The Top 4 Reasons You Should Get a VA Loan

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the...