Bella Mertz Learn when it makes sense to use home equity to finance a car purchase and key factors to weigh in your decision. Finding the cash you need for significant expenses such as buying a car can be overwhelming. That’s where loans come into play. Traditional auto loans are usually the best financing option when buying … Read more
When going through the home buying process, most people will work with a mortgage loan officer. These professionals help potential homebuyers navigate the complex world of mortgage loans and ultimately secure financing. But how exactly are mortgage loan officers compensated for their services? Here is an in-depth look at the most common ways these essential … Read more
Being unemployed and not having a full-time job can hurt your chances of getting approved for a mortgage. That’s because two major deciding factors for lenders when reviewing a mortgage application are your income and job history. Unfortunately, not everyone has those. Some individuals don’t have full-time jobs because they work for themselves as freelancers … Read more
Closing costs can be a huge, unexpected expense when purchasing a home. Think $8,000 to $10,000 or more on a typical purchase. But current mortgage rules allow sellers and other parties to pay all or part of your closing costs. Buying a home is an exciting milestone. But between the down payment and closing costs, … Read more
Buying a condo can be a great option for many homebuyers especially those using their VA loan benefits. Condos offer convenient amenities, less maintenance and often a more affordable entry point into homeownership. However, there are some unique requirements when purchasing a condominium with a VA loan. In this comprehensive guide, we’ll walk through everything … Read more
After months of searching and having several offers rejected, you’re finally under contract. Congrats! But how long will you have to wait until you can close on the sale? The current average is 45 days, which is down from an average of 58 days in Jan. 2021, according to ICE Mortgage Technology, Inc. (formerly Ellie … Read more
This is the final step towards getting a lender to commit to giving you a loan. The mortgage loan commitment date is an important milestone in the home buying process As a homebuyer, understanding what this date means and how to navigate it can help ensure your purchase goes smoothly. When you make an offer … Read more
Conditional loan approval is an important part of the home buying process. It means the lender has reviewed your loan application and is likely to approve it, but there are still a few steps you need to take before you can close on the home. I want to explain what conditional approval is, how it … Read more
Being a single mother is incredibly challenging. You have to be both mom and dad, breadwinner, caregiver, cook, housekeeper, and so much more. It’s a lot for one person to handle. When an unexpected expense comes up, like car repairs or medical bills, it can be difficult to cover the costs on a single income. … Read more
A home equity loan allows you to borrow money against the value built up in your home. While most people seek out these loans using their primary residence, it is possible to get a home equity loan on a rental property – it just tends to be harder and more expensive. In this article, we’ll … Read more