What Is An Adjustable Rate Mortgage (ARM)

Adjustable Rate Mortgage

When it comes to home loans, there’s a wide array of options available to buyers, each with its unique benefits and considerations. One such option is the Adjustable Rate Mortgage (ARM), a type of mortgage where the interest rate can change after a certain period. While ARMs can offer lower initial rates compared to fixed-rate […]

What Is A 3-2-1 Buydown?

3-2-1 Buydown

What is a 3.2.1 Buydown? A 3.2.1 buydown is a mortgage financing technique where the interest rate of the home loan is temporarily reduced for the first three years. Unlike a fixed interest rate, a 3.2.1 buydown lowers the rate by 3% below the note rate in the first year, 2% in the second year, […]

How To Calculate Your Mortgage Payment

Calculate Mortgage Payment

Thinking about buying a house or changing the loan on the house you already live in? You might be asking: What will my interest rate be? How much will I need to pay every month? Can I save money by paying off my loan early? We’ve got a guide for you! We’re going to show […]

What Is Earnest Money?

Earnest Money

What is Earnest Money in Real Estate? In the world of buying homes, earnest money is like a handshake between you and the seller. It’s a deposit you make when you offer to buy a house, showing you’re serious about the purchase. This money is a sign of good faith and commitment to the deal. […]

What Is APR?

What Is APR

When shopping for a mortgage, you’ll encounter many terms, but one of the most crucial is the APR, or Annual Percentage Rate. Unlike the interest rate that simply tells you the cost of borrowing the principal loan amount, APR provides a more comprehensive look. It includes the interest rate plus other fees and costs involved […]

Principal and Interest- Mortgage Payment Basics

Principal and Interest Mortgage Payment

Understanding Mortgage Payments Mortgage payments are a crucial aspect of homeownership, representing the borrower’s obligation to repay the loan used to purchase the property. These payments are typically made monthly and cover several components, including the principal, interest, taxes, insurance, and sometimes, homeowners association (HOA) fees. Understanding each part is essential for effective financial management […]

What Is A Mortgage?

Buying a home is one of the most exciting steps in life. It’s not just about having a place to live; it’s about creating a space that’s truly yours. Whether it’s choosing the perfect paint for your living room or designing the garden of your dreams, owning a home lets you turn all those dreams […]

What Is A 2-1 Buydown

2-1 Buydown

What is a 2-1 Buydown? A 2-1 buydown is a type of mortgage rate reduction plan that temporarily lowers the interest rate on your mortgage for the first two years, making your monthly payments more affordable in the short term. This setup usually follows a simple structure: in the first year, the interest rate is […]

Get a Mortgage Without a 2 Years Work History

Mortgage without 2 years work history

Can I get a mortgage without a two-years work history?  Get a Mortgage Without a 2-Years Work History Generally speaking, most lenders want to see that you have 2 full years of employment history when applying for a home loan. This is done by using year to date pay stubs and W2’s you have provided […]

Louisiana Home Inspection Guide

Louisiana Home Inspection

When buying a home, a thorough home inspection is the most important thing you can do to make sure the process goes smoothly and you know what you’re buying. 

Home Appraisals 101: The Basics You Need to Know

Home Appraisals

If you’re interested in discovering the ins and outs of home appraisals,then you’ve landed in the perfect spot. A home appraisal is a thorough examination of a house by an expert in order to determine its market value if it were to be sold.  It’s a critical component for homeowners, buyers, and sellers to make […]

What is a Move In Ready Home?

What is a Move In Ready Home

For some, purchasing  a home where no repairs are needed is a welcome relief of anticipated stress. When shopping for a home the words they want to hear are Move in Ready. What does this mean for the home buyer?  Oftentimes the terms move-in ready and turn-key home are used interchangeably. But are they the […]

Mortgage Points: Should I Pay Them

Mortgage Points

If you’ve been speaking with a loan officer or are looking into buying a home, you may have heard the term, points, before. But what does this mean? What are points in terms of a mortgage?  What are mortgage discount points?  Discount points are a way to lower your interest rate by paying an upfront […]

Do Mortgage Lenders Look at Rental History?

Do Mortgage Lenders Look at Rental History?

You may be wondering if your rental history will play a factor in your approval. How does where you’ve lived and how you’ve paid your rent affect your loan approval?   Let’s dive in Do Mortgage Lenders Look at Rental History?  Rental history is often overlooked in the mortgage approval process. Mortgage lenders and underwriters […]

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