As the name implies, closing costs are the costs that you have to pay when you close on a home loan. However, one of the many advantages of using a VA loan from the U.S. Department of Veterans Affairs’ home loan program is that VA loan closing costs are a little different. Understanding these differences …
Should I Refinance My Mortgage?
Should I refinance my mortgage? With the avalanche of offers to refinance that homeowners receive, it’s almost inevitable that the question will cross your mind at some point. Unfortunately, it’s not an easy question to answer. Sometimes, refinancing can be a smart move. However, there are other times where it’s best to stay the course …
The Pros and Cons of Jumbo Mortgage Loans
Weighing the pros and cons of jumbo mortgage loans is a smart move. After all, a home isn’t a small purchase, so taking the time to understand your options and feel confident about your decisions simply makes sense. Are you interested in exploring jumbo loans? Scroll down to get started.
How Long Does Closing on a House Take?
If running a race was a metaphor for buying a home, closing would be the final stretch. Of course, there are actually two types of closing to consider. To continue the metaphor, the first type of closing, sometimes referred to as either the closing process or escrow, would be the final sprint. The final type …
VA Loan Limits for 2021
If you’re contemplating using a loan from the U.S. Department of Veteran Affairs’ home loan program to make your dreams of being a homeowner a reality, then it’s only natural to be concerned about the VA loan limits for 2021. However, these limits can vary widely depending on whether you have your full entitlement or …
How to Get a Loan for a Condo
While both condominiums and houses may offer shelter from a storm, there are some fairly distinct differences between these types of housing. After all, when you purchase a traditional single-family home, you generally get a free-standing structure and the land that it sits on. When you purchase a condo, you own your unit and share …
How Soon Can You Refinance a Mortgage?
It doesn’t take long. Once you become a homeowner, they will start to appear in your mailbox. At first, it’s just a trickle, but the stream of offers to refinance your mortgage will likely grow as time passes. Even if you’re perfectly content with your current home loan, curiosity is a natural reaction in this …
Should I Make Extra Mortgage Payments?
It’s never fun when there’s more month than money. Fortunately, you’re not dealing with that situation. In fact, you have a little extra left over at the end of the month, and that’s got you wondering: Should I make extra mortgage payments? The decision isn’t quite as easy as you might think. Of course, that …
How Does a Renovation Loan Work?
Home renovation shows make it look easy. With the right tools, a little know-how, and a lot of imagination, you can completely transform a tired, cramped house full of shadows into a vibrant, functional home that everyone wishes they could call their own. While these shows do showcase the sweat, paint, and sawdust, one area …
How to Make an Offer on a House
In most retail transactions, Americans pay the price the seller is requesting. Negotiating isn’t expected or welcome at your local grocery store, pharmacy, or gas station. Real estate purchases are different. The seller’s asking price is simply a starting point. In some situations, the seller will end up settling for far less. In others, they’ll …