Have you ever heard of recasting a mortgage loan? We’re assuming not. It’s a little-known tool that allows you to lower your monthly mortgage payment without having to refinance. Sounds great, right?
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Are you looking into refinancing your mortgage? You’re not alone. We’ve had many questions regarding refinances lately and wanted to take a moment to discuss how you can get the best rate.
If you’re in the market for a new home, it’s important to know that the housing market is a seller’s market right now. That means there are a lot of
"Can I borrow more than the house is worth?" "If I’m pre-approved for up to a $200,000 loan and the house I want to purchase is only $150,000, can I get a loan for $200,000 and use the remaining $50,000 for remodeling?"
Here at Mortgage Specialists, we help homebuyers secure mortgage loans at every stage of their life. Whether you’re a first-time buyer with no experience in the mortgage process or a
Buying your first home can be a very stressful time as it is likely the largest decision you have made in your life. In our experience, the following questions are some of the most commonly asked by first-time homebuyers.
Journeying away from our typical mortgage or loan tips and guidelines to speak about something that is equally as important and impactful when purchasing a home– delayed gratification.
While a pre-approval shows that your lender could provide you with a loan in that amount, it only applies to your financial situation at the time of the pre-approval. Meaning, if your financial situation changes drastically from the day you’re pre-approved to when you find a home to make an offer on, your pre-approval may not still stand with the same terms.
Nearly everyone that comes to us comments on the amount of documents needed for a mortgage or refinance they have to provide us with. We know, it is a lot. But, in order to apply for a mortgage or refinance, we need specific documents.
When we speak with first-time home buyers, we’re often met with surprise when outlining the amount of money needed to buy. Many clients come to us knowing about the down payment and monthly mortgage payment, and that’s about all. We’d like to go over the general expenses to expect when buying a home, as well as the money we’d recommend having on hand.
We get questions regarding buying a house with student loan debt all the time. "Can I get a mortgage when I have student debt?" "How can I save for a down payment while paying off student debt?" "I have a mortgage and student debt, should I start paying one off early?" Let's dive into it!
You’ve finally decided to take the plunge into homeownership, but finding out where to begin can be difficult. Here at Mortgage Specialists, we advise that you seek out a lender before beginning to house hunt.
Whether you’re a first-time homebuyer or a seasoned homeowner, the home buying process can seem a little daunting. Browsing through beautiful homes is the easy part—it’s when you actually decide to take action that things become tricky.
We know that purchasing a home is a daunting task for anyone, but especially first-time homebuyers. There are many different types of loans available and it’s important to understand each major type to ensure you’re able to make an informed decision.
When first-time home buyers come to us, we take the time to explain all the ins and outs of the mortgage process. We teach them what to look for and common home buying mistakes to avoid.
It's generally best to obtain pre-approval early - before starting to look at homes. We recommend getting pre-approved as early as six months to a year in advance.
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