Navigating the mortgage landscape requires understanding the fundamental categories of home loans, primarily the distinction between conventional conf...
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In the ever-evolving landscape of real estate financing, an often-overlooked option presents a unique opportunity for both buyers and sellers: the ass...
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Before you embark on the journey of applying for a mortgage, there is one crucial number you must know: your debt-to-income ratio, or DTI. This single...
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The down payment stands as one of the most significant initial hurdles in the journey to homeownership. While the allure of a 20% down payment is ofte...
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For many aspiring homeowners, the path to purchasing a house can feel blocked by the significant financial hurdles of a large down payment and stringe...
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For prospective homeowners eyeing luxury properties or those shopping in competitive real estate markets, the price tag often exceeds the limits of a ...
Read MoreNo, it is very likely that your property taxes will change over time. They can increase if your local government raises tax rates or, more commonly, if the assessed value of your home increases. This often happens after you purchase a new home (as it is reassessed at the sale price) or after a major renovation.
For complex or sensitive matters, we highly recommend scheduling a phone call or a virtual meeting with your Loan Officer. This allows for a real-time, confidential conversation where we can give your situation the detailed attention and nuance it deserves, without the limitations of email.
A well-organized financial package is crucial because it allows your loan officer to process your application efficiently and accurately. Disorganized or missing documents are the most common cause of delays. A complete file helps the underwriter quickly verify your financial standing, leading to a smoother and faster approval process.
It is very difficult, but not always impossible. If market rates have fallen substantially after your lock, you can ask your lender for a “float-down” option. However, this is typically a feature that must be agreed upon and sometimes paid for at the time of the initial rate lock. Don’t count on being able to negotiate a locked rate after the fact.
A fixed-rate mortgage is significantly easier to budget for in the long term. Because the payment is completely predictable, you can plan your finances for decades without worrying about fluctuations in your largest monthly expense.
