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Financing & Insuring

Financing & Insuring

When to Refinance a Home Loan

September 8, 2017
Couple reviewing refinancing documents

With interest rates at attractive lows, it might seem like a great time to refinance your mortgage loan—a process that involves paying off your current home loan with a new loan, resulting in new principal and interest payments (the P and the I in PITI) that could save you money, among other things. But how do you know if it’s a good time to refinance?   Following are four instances when it might make sense to refinance your home loan: You want a lower interest…

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Financing & Insuring

What Does Home Insurance Cover?

July 13, 2017

Insurance is a crucial part of being a homeowner. In fact, most mortgage lenders require that buyers carry a homeowner’s insurance policy. While policies may vary, there are certain items and events that are typically covered in many policies. Typically covered: Dwelling Coverage Dwelling coverage includes the actual structure of the home. This means walls, flooring, doors, etc. Other Structures This protects structures not physically attached to your home such as an unattached garage or shed. Personal Liability Homeowner’s insurance covers the physical home, but…

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Financing & Insuring

Finding Home Insurance

May 15, 2017

Purchasing home insurance makes good sense, and not just because it’s often a condition for home loan approval. It’s also a good idea for peace of mind and financial security. You definitely don’t want to find yourself wishing you’d purchased the right insurance after something unexpected happens. So if you’re in the market for a new home, check out the following tips for finding a plan that covers your home’s needs. Compare insurance quotes Consult an insurance agency with brokers that can compare costs and…

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Financing & Insuring

What Can a Loan Officer Do for You?

April 18, 2017
Couple meeting with loan officer

Loan officers work to help prospective borrowers obtain home loans (a.k.a. mortgages). But there’s more to the position than meets the eye. A lender’s loan officers assist borrowers through the mortgage lending process. They are skilled at evaluating a homebuyer’s creditworthiness (the degree to which he or she is considered likely to repay a loan), and are well-versed on the many different types of loans available in today’s market. If you are considering buying a new home, you can meet with a loan officer to…

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Financing & Insuring

Lock in Today’s Mortgage Rate until 2018

March 20, 2017
Dayton at Saddle Rock

Planning to buy a home this year? If you’ve been keeping a nervous eye on news from the Federal Reserve, wondering if you’re missing out on your best mortgage rate because you’re not ready to close, an extended rate lock might be just the thing you need to move forward with confidence. What is an extended rate lock? A buyer typically has sixty days to close a loan after locking in a mortgage rate. With an extended rate lock by HomeAmerican Mortgage Corporation, you can…

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