If you have recently bought a home, you may have heard your closing agent mention something about a prepayment penalty. This idea might have seemed strange. Why would there be a penalty for paying off your loan ahead of schedule? Here’s what you need to k
Aug 18, 2022 | Purchasing a Home
Once you find the perfect house and your offer is accepted, it is time to turn your attention to lining up the financing. If you’ve never applied for a mortgage loan before, or if it’s been many years since your last home purchase, the process of collecti
Aug 16, 2022 | Purchasing a Home
One of the new terms you’ll hear as a first-time home buyer is “escrow.” If you’re unfamiliar with this word, here’s everything you need to know about escrow accounts and how they work. A Definition An escrow account, also known as an impounds account, is
Aug 11, 2022 | Purchasing a Home
Buying a home for the first time is an adventure; it is exciting, but it can also be challenging to understand all the terms and procedures. If you are getting started on your home buying journey, here are some of the most frequently asked questions that
Aug 09, 2022 | Purchasing a Home
While a job change can mean variety and advancement, if you are in the process of buying a home it can complicate matters. In general, changing employment before a home purchase is acceptable to mortgage lenders, but starting a new job once your loan appl
Aug 04, 2022 | Purchasing a Home
If you are getting ready to buy a home, you might want to consider using an FHA loan. What are these mortgages? Here are answers to some of the most frequently asked questions about FHA loans to help you decide if one is right for you. What is an FHA Lo
Aug 02, 2022 | Purchasing a Home