Category: Mortgage Basics

Best Tips for Refinancing a House to Save Money

Mortgage refinancing can be simple and quick in case you’re prepared to refinance your current loan before rates rise again. It may be a smart thought to take advantage of today’s historically low mortgage rates. You can pay off credit card debt, resign student loans, or reserve home improvements. Get started with these mortgage refinancing tips […]

6 Tips to Get Approved for a Home Mortgage Loan

Some people don’t know the first thing about getting a mortgage loan. They hear reports of dropping interest rates and lower home prices and hastily decide to jump into home ownership. But the process of getting a home loan differs from getting a car loan or renting an apartment, and applicants who don’t recognize these […]

Important Mortgage Tips For First-Time Buyers

With the peak spring-summer home buying season in high gear, first-time home buyers are focused. Finding that dream home in today’s market where affordability is past a challenge is often like winning the lottery. Especially for many, who are experiencing “purchaser fatigue.” Then once you locate that ideal home, you should verify a mortgage that […]

10 Tips When Preparing for a Mortgage

Have you checked your credit and chosen everything looks good to purchase? Check these ten steps before you adventure out to your mortgage broker and you’ll be ahead of the game! 1. Start with your credit report The principal thing lenders will probably do when you apply for a mortgage loan is to check your […]

10 ways to maximise your chances of getting a mortgage

We’ve pulled together 10 top tips that will help give you the best chance of being accepted for a home loan. 1. Save the biggest deposit you can Mortgage suppliers hold their least interest rates for individuals with large stores. That means a large portion of the top deals on the market are restricted to […]

What does a mortgage servicer do, and what happens when I get a new one?

A mortgage servicer is the company that handles the day-to-day administrative tasks of your loan, including getting payments, sending monthly statements and managing escrow accounts. This is not quite the same as your mortgage lender, which is the financial organization that gives you a home loan. How to find out who your mortgage servicer is […]

When should you lock a mortgage rate?

As mortgage rates increase, homebuyers should pay close attention — higher rates mean more cash out of pocket for borrowers. For those stressed that rates will climb much further before shutting, a mortgage rate lock could be the arrangement. What is a mortgage rate lock? A rate lock solidifies an interest rate on a mortgage […]