Mortgage

Refinancing Requirements and Steps

by Teresa Cowart in Blog,For Homeowners,Mortgage. Tagged:

When Should I Refinance? Most people choose to refinance if they need their mortgage payments to be a little less every month or they would like to reduce the amount of interest they pay throughout their mortgage term. Consolidating a mortgage and a home equity loan to help even out payments is another reason people…

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How to Prepare to Become a Homeowner

by Teresa Cowart in Blog,For Home Buyers,Mortgage. Tagged:

Making the decision to purchase a home of your own instead of renting is one of the biggest and exciting changes you will make in your lifetime. There are a few things you should do in order to make the transition as easy as possible, starting with financial preparation, as well as mental preparation. Know…

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The Different Meanings of Escrow – The Basics

by Teresa Cowart in Blog,For Home Buyers,For Home Sellers,Mortgage. Tagged:

The term escrow has two different meanings, both of which pertain to the holding of money by a third party. To help you better understand the difference, I’ll cover the basics in this post! ESCROW – Meaning 1 What is escrow? Once a buyer and seller have agreed on a price and contract for a…

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Mortgage Broker vs. Lender: How to Choose

by Teresa Cowart in Blog,For Home Buyers,Mortgage. Tagged:

Once a buyer has made the decision to purchase a home, the next step is to get start seeking out mortgage lenders or mortgage brokers. They may sound similar but these are two completely different terms. A mortgage lender is a financial company that issues loans and mortgages to a buyer. A mortgage broker works…

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Mortgage Options for Buyers

by Teresa Cowart in Blog,For Home Buyers,Mortgage. Tagged:

With the variety of mortgage options available for home buyers, the entire process can seem intimidating. Listed in this article are the basic loan types an average homeowner may encounter in the mortgage process. Conventional Loans Conventional loans are loans that the US government does not insure and they follow the guidelines set forth by…

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Understanding Mortgage Insurance; A Guide for Home Buyers

by Teresa Cowart in Blog,For Home Buyers,Mortgage. Tagged:

As with many things in life, risk will always have a cost. In the mortgage industry, borrowers are the risk to lenders. Where there is risk, there is almost always a cost. This is how mortgage insurance becomes important to home buyers. What is Mortgage Insurance? PMI or Private Mortgage Insurance is a premium that…

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10 Common Mistakes of First-Time Homebuyers

by Teresa Cowart in Blog,For Home Buyers,Mortgage. Tagged:

  Being a first-time home buyer is an exciting time as you prepare for your future in a beautiful new home! It’s easy to get wrapped up in the fun of house hunting, that you forget to think about some important things. From hidden costs, to realtor quality, here are 10 common mistakes first-time home…

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