Category: Financing & insuring

Affording a home is all in the numbers! Get mortgage information, plus discover everything you need to think about to get your new home insured the right way.

  • Should I Lock in My Interest Rate?

    Should I lock in my interest rate today? Many people ask their loan officers, “When should I lock in my rate?” There’s no easy answer. It’s a little like asking when you should sell your stock or which mutual fund will perform better. It all depends on the market and your individual situation. Are you […]

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  • What is a PITI Payment?

    Buying your first home? Be prepared to learn a list of delightful new acronyms—APR, PMI, FICO, FHA, LTV and DTI, just to name a few. When it comes to establishing your home buying budget, PITI is the first term you should tackle. What is PITI? PITI stands for Principal, Interest, Taxes and Insurance, and calculating […]

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  • Homeowner’s Insurance: Find Out What’s Covered

    For many people, a home insurance policy is like a first aid kit: they know it’s a good thing to have, but they don’t open it up and poke around inside until they need it. Knowing what is and isn’t covered by your homeowner’s insurance, how much insurance you need to protect your property and […]

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  • What is an FHA Loan?

    If you’re buying your first home, you’ve probably already heard that an FHA loan is THE loan for you. While it’s true that FHA-insured mortgages are an attractive option for many new buyers, it’s not the only option—and FHA loans are not just for first-time homebuyers! Check out our FHA FAQ below, then be sure […]

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  • What is a Conventional Loan?

    A conventional mortgage loan is one of a class of generic loans that can be originated by any lender, as opposed to loans guaranteed or issued by a government agency—like FHA, USDA or VA loans. Because more entities originate conventional loans, they can come in a variety of packages. Types of conventional mortgages Conforming May […]

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  • Frequently Asked Questions: Using Gift Funds to Buy a Home

    Whether you’re buying your first home or your tenth, you may find you need a little help coming up with a down payment or closing costs. If you’re fortunate enough to have someone who’d like to contribute to your homeownership goals, this FAQ is for you!  What kinds of loans allow you to use gift […]

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  • What is a USDA Loan?

    The USDA (short for United States Department of Agriculture) doesn’t just certify that your favorite cut of beef is fit for the grill; among many other things, it also guarantees or directly provides loans to qualified homebuyers in rural communities. If you’re a low- to moderate-income applicant in an eligible rural area, USDA financing might […]

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  • Making the Most of a Mortgage Calculator

    A mortgage calculator can be very helpful when you’re deciding how to approach the financial side of buying a home. It can give you a ballpark figure of what your monthly mortgage payment may be so you can estimate expenses. It can also help you decide if you might prefer a fixed-rate or an adjustable-rate […]

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  • Getting Prequalified After Bankruptcy, Foreclosure or Short Sale

    Life sometimes takes us on unexpected journeys. You may think you’re heading in one direction and then—surprise—you’re on a completely different path. For example, if you experience a major credit event, such as a bankruptcy, foreclosure or short sale, your credit score can be severely impacted, which can affect your chances at qualifying for a […]

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  • 5 Mortgage Myths Debunked

    You’ve probably heard your share of mortgage legends over the years. It can be hard to know what’s fact and what’s fiction. When you’re in the market for a new home, there’s no better time to learn the truth. We’ve uncovered five myths that have made their way into mainstream homebuying. Myth #1: You must […]

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  • Things to Know About Homebuyers Insurance

    With the purchase of your new home, it’s wise and often even mandatory to protect such a large investment with different types of insurance policies. Read on for our quick guide to the main types of insurance policies you might encounter and why you may need to purchase them. HOMEOWNERS INSURANCE Homeowners insurance is designed […]

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  • How Much Can I Afford on a Home Loan in 2014?

    Each year can bring anything from minor tweaks to major overhauls in mortgage lending, possibly affecting how much house you can afford to buy. To help simplify how to financially prepare for homeownership this year, we’ve compiled some of the more important gamechangers for you to be aware of in 2014. New Qualified Mortage Rules […]

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