You know you must pay your mortgage every month when it is due. But do you actually know what you are paying? How is a mortgage payment broken down? Do you know what is included in the amount owed?    When buying your property, you likely spent a lot of time going over all sorts of documentation for your new loan. There were likely a few changes along the way, too. Or maybe you are getting ready to go through it all now. Either way, it’s important to know what a mortgage payment consists of. Unlike other monthly bills you receive in the mail, your mortgage payment is a bit complex. I ..read more

Wedding days are magical moments shared between a happy couple who vow to be together for better or for worse. They start a family, buy a home with a white picket fence, and live happily ever after.  Unfortunately, despite the best intentions, life does not always work this way for everyone.  Nobody ever kicks off their marriage thinking about divorce – but it may happen one day. And, if it does, what will you do with your marital home? What happens to a mortgage in a divorce?  The good news is that you have options, but knowing which one to choose comes down to a few key factor ..read more

Mortgage myths can make the home-buying process confusing — especially for those who are going through it for the first time.   What should you look for in a mortgage? How do you know if you have a good interest rate? How much down payment do you need?    One quick Google search for the answers to these questions and more can turn up all sorts of misinformation.   In real estate transactions, time is of the essence. Simply applying for a mortgage is a tedious process so you definitely don’t want to waste your time following bad advice.    That’s why we’re here. Le ..read more

Being able to buy a home of your own is the ultimate dream. And for many who have served in the US military, VA loans can help.     How long does a VA loan take to close, though?     Unfortunately, over the years, VA loans have been tainted with a reputation that they take forever to close. In reality, it takes an average of 40 to 55 days for these loans to close – from contract to closing. This isn’t much longer than the 30-day average closing for buyers with a conventional mortgage.     Below you will find a closer look at the timeline and what yo ..read more

Many people find the home of their dreams and want to rush through the process of taking out a mortgage as quickly as possible. However, you never want to agree to a mortgage without fully understanding the terms of the loan. Otherwise, you could end up with some surprises down the road.    Both fixed-rate and adjustable-rate mortgages are popular options, but they have one major difference: the interest rate. With a fixed-rate mortgage, your monthly payment will never change. With an adjustable-rate mortgage, it fluctuates.    Let’s take a closer look.    What is ..read more

Purchasing a home is one of the biggest investments you will make in your lifetime.    After searching and finding your dream house, you went through the legal channels of purchasing it and taking over the rights to it. The deed reflecting all of this is recorded with the title to your property reflecting you as the rightful owner.    In an ideal world, none of this should change unless you sell or transfer the property. Unfortunately, your home ownership can easily catch the eye of thieves— and they want what you have.    Home title theft happens more often than ..read more

It can take some buyers months to find the perfect property. And once they do, the mortgage application process can seem endless—especially when you’re anxious to get the keys to your new home.    Before that can happen, you’ll need to hear from your lender that everything has been approved and that everything is good to go.    Then, with just a few simple steps remaining, you will finally be able to exhale. In other words, you will have the loan you need to buy the home you want.    So, what exactly is clear to close in terms of your mortgage? Here is everything ..read more

As exciting as it can be to buy a new home and dream about the adventure you will have and the future memories that will be made there, all the new terms can be confusing.  For instance, a mortgage broker.  A mortgage broker could play a significant role in your home-buying process. So, what are they? What do they do? Where can you find one? How can a mortgage broker help you?  Before you go any further on your quest, let’s talk about mortgage brokers.    What is a Mortgage Broker?  If you have put forth any effort to find a lender, then you know it can be tough t ..read more

As mid-April rolls around every year, a lot of tax questions arise. Everyone wants to know what they can do to either decrease the amount of money they owe on their taxes or increase the return they get.    For homeowners, the Home Mortgage Interest Deduction (HMID) is a tax break that can yield some savings. Though there is a lot to understand in order to be able to take advantage of what it can do for you. So, let’s not waste any more time – and jump right into it.    Mortgage Interest Deduction: What is It?  In its most simplistic form, the mortgage interest deducti ..read more