When purchasing a home, particularly a condominium, townhouse, or a property in a planned community, prospective buyers must account for more than jus...
Read More
The journey to homeownership is paved with important documents, and one of the most critical early milestones is receiving the Loan Estimate from your...
Read More
The pursuit of homeownership and financial leverage often leads borrowers through a series of loans, starting with a primary mortgage and potentially ...
Read More
A mortgage is often the largest financial commitment a person will make, and the initial interest rate you secure is not necessarily the one you must ...
Read More
The specter of rising interest rates casts a long shadow over both personal finance and corporate strategy, forcing a critical evaluation of vulnerabi...
Read More
The choice between a 15-year and a 30-year mortgage is one of the most significant financial decisions a homebuyer or refinancer will make. This decis...
Read MoreFor a first-time homebuyer who may need more guidance and is often more cost-sensitive, a credit union is frequently the better choice. The combination of potentially lower rates, lower fees, and more personalized, educational support can make the complex process of getting a first mortgage much smoother and more affordable.
No, 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.
The most common mistake is underestimating the total cost of ownership. This includes not just the mortgage, but also the “hidden” and variable costs like maintenance, repairs, and higher utilities. This can lead to being “house poor,“ where a large portion of your income goes solely to housing, leaving little for other expenses, savings, or discretionary spending.
Be skeptical of reviews that seem generic, overly promotional, or use similar language repeatedly. Authentic reviews are typically specific, mention personal experiences (good or bad), and have varied details. Platforms like LendingTree and Trustpilot often label “Verified” reviews from confirmed customers.
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.
