As we covered last week, one of the biggest benefits of home ownership is building equity. But besides the equity aspect, the next most important benefit of owning a home for many Americans is the tax write off. Now, I’m not an accountant, and I can’t guarantee that everything I say will apply to everyone […]

There are, of course, many benefits to home ownership. These benefits are the reason why people buy a house. But over the weekend, I read an article which stated the benefits of renting, and I realized that the true benefits of home ownership may need to be explained. So, I’m going to be posting a […]

Preapproval letters, also called prequalification letters, are an important part of the modern home buying process. Many of my clients who have been down the home buying path before get upset when asked for a preapproval letter by a realtor before the realtor will even take them to see houses. I have been told by […]

This is, of course, one of the first questions most of my clients ask when we first talk. Understanding how much house you can afford helps to determine what houses you should even look at. I find that first time home buyers generally underestimate how much house they can afford and veteran homeowners overestimate how […]

Credit is one of the most important factors in anyone’s ability to qualify for a mortgage. For this reason, it is important to always strive to protect your credit if at all possible. Unfortunately life happens, and it may be necessary to do something which can damage your credit. Last month, I had a customer […]

When purchasing a home, you have to determine if the house will be a Primary Residence, Second Home, or Investment Home. This determination affects the underwriting guidelines, and can impact the rate and terms of an approved loan. For this reason, it is important to understand the differences between these three property types. The easiest […]

With interest rates steadily declining over the last two years, and finally hitting all time lows recently, it is no wonder so much attention is being paid to refinancing. Refinancing is, basically, just trading your existing mortgage in for a new one with a different rate and term in an effort to lower your costs. […]

  From our family to yours, Happy 4th of July. I hope you enjoy this holiday with family and friends. I will be back next week with more mortgage information and tips, but in the meantime I would love to hear how you are spending your holiday. Please leave a comment and let me know […]

This is a question every first time home buyer must ask. Unfortunately, most first time home buyers (or anyone else, for that matter) do not really know what it means to be “ready” to purchase a home. But when I get this question, I generally go over a few key points.   Where are you […]

This is a common question I am asked by clients, and I would say it is a pretty good question to ask. If you watch the news, there are reports seemingly ever day which contradict each other on the topic of down payments. Some will say put at least 20% down to avoid mortgage insurance […]