Real Estate Archives - Page 19 of 28 - Lori Blank & Associates

16

Nov

Real Estate

The Top Reasons To Pay Off Your Mortgage Before You Retire

As you get closer to your retirement age, you should try to discharge as much of your debt as possible. Unfortunately, many people close to the age of retirement still have a significant mortgage balance they need to pay off. What are some of the top reasons why you should pay off your mortgage before you retire? Your Portfolio Might Not Generate As Much Interest You may have a very low rate on your mortgage, which means that your money is better served in the stock market; however, as you approach the age of retirement, your portfolio might not generate…

08

Nov

By lizlaurenb

Real Estate

Amortization: What You Need To Know About How Your Loan Is Paid Off

If you own a home, you will see a lot of information about your payment schedule. It specifies exactly what payments you have to make, when you have to make them, and how much of each payment will go toward your principal and interest. This is called an amortization schedule, and it is typically designed in such a way that your last payment pays off your loan down to the penny. How does this impact the life of your loan? Most Of Your First Few Payments Go Toward The Interest During the first few years, the majority of each payment…

25

Oct

By Lori Blank

Real Estate

Closing Costs And A Cash Sale: Who Pays?

There are some people who are able to pay cash for a home. Typically, these are individuals who are selling an existing property that has gone up in value. Now, all of a sudden, they have a lot of extra money they can spend on a house. If you can pay cash for a home, you have a lot of extra negotiating power. When it is time to complete the sale, who pays? What Is Included In Closing Costs? Before deciding who pays closing expenses, it is important to take a look at what is included. Because you do not…

21

Oct

By Lori Blank

Real Estate

A Non-QM Mortgage: What Does This Mean?

If you are interested in purchasing a house, you need to review all of the offers available. The vast majority of loan officers are going to talk about something called qualifying mortgages, which is usually shortened to QM. You may be asking, what is a non-qualifying mortgage? This is usually shortened to Non-QM, and it simply means that the loan does not conform with the rules and regulations put in place by the Consumer Financial Protection Bureau, usually shortened to CFPB. What are the differences between a QM and Non-QM mortgage, and which one is right for your needs? A…

20

Oct

By Lori Blank

Real Estate

What Do First-Time Homebuyers Need To Know?

If you are purchasing a house for the first time, you are probably excited to imagine what your life might look like in a bunch of different houses. At the same time, the process can be a bit overwhelming. The housing market is competitive right now, the financing process can be confusing, and you might not know exactly what you are looking for. What are a few of the most important tips first-time home buyers need to know? Reach Out To Experts For Help First, you need to reach out to professionals who can help you during the process. For…

14

Oct

By Lori Blank

Real Estate

The Top Tips To Get Your Offer Accepted

The housing market today is very competitive, and you might be wondering how you can get your offer accepted. If the seller has multiple offers on the table, it can be a bit of a challenge. Many people assume that the best way to get an offer accepted is to offer the most money. Even though that is certainly helpful, there are several other tips you should follow to make sure your offer is the one the seller picks. Get Pre-Approved For A Mortgage First, you must make sure that you get pre-approved for a mortgage. Unless you are paying…

13

Oct

By Lori Blank

Real Estate

What To Know About Flood Insurance

Flooding can happen in any location at any time. Even though many people associate floods with coastal properties, flooding can take place inland as well. That is why you always need to take a look at the map to figure out whether your property is located in a flood zone. There are some situations where your lender might require you to purchase flood insurance. What do you need to know? What Is Protected And What Is Not? When you purchase flood insurance, there are three broad components that you should examine. You need to check and see whether the policy…

12

Oct

By Lori Blank

Real Estate

Current Servicemember or Veteran? 4 Reasons Why a VA Home Loan Is an Excellent Choice

Are you current or former member of the US military service who is looking to buy a new home? If so, you will be pleased to know that there are some special mortgage programs that are open to you. Let's take a look at five reasons why a mortgage backed by the Department of Veterans Affairs is an excellent choice when buying your new home. You Can Borrow Up To 100% Of The Home's Value You read that correctly! VA-backed mortgages are available to you even if you choose to put no money towards your down payment. This can be…

30

Sep

By Lori Blank

Real Estate

The Minimum Credit Score For VA Home Loan Approval: What To Know

When you are applying for a home loan, you need to make sure that you meet the minimum credit score requirements. If you decide to go with a traditional loan, the credit limit can be high, making it hard to qualify for a home loan. In contrast, you might be able to qualify for a VA home loan with a much lower credit score. What do you need to know? The VA Does Not Have A Minimum Credit Score Requirement One of the major benefits of applying for a VA home loan is that you do not need to worry…

27

Sep

By Lori Blank

Real Estate

How Can A Cash-Out Refinance Help You?

If you have been in your home for a while, you might be able to refinance. If your credit score has increased, your income has gone up, or the average home loan interest rate has gone down, you might be able to conduct a cash-out refinance. During this process, you can keep your mortgage payments the same, secure a lower interest rate, and withdraw the difference as cash. What can you do with this extra cash? You Can Make Improvements To Your Home One of the most popular ways people use a cash-out refinance is to increase the value of…