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What’s more important, the best rate or the best price?!

Most every consumer knows how to shop for a mortgage in one fashion. Call a lender and ask about their rate and points. They then compare that to 1 to 3 other lenders and choose the lender that’s best. While I have many reasons to not choose a lender just on rate, that’s not the purpose of this dialog. So, for the time being, let’s just pretend that every lender is created equal and will close your loan with no issues. So what’s left? The rate right??? Wrong. Allow me to differentiate between the best rate and the best price. One thing that really good lenders do is actively manage the loan of their borrowers with attention to the markets and how the subtle moves will affect interest rates. The problem is that many loan officers couldn’t give you an explanation on what moves interest rates, not to mention the…

How HomeScout Blots Out Competitors

You’ve seen the advertisements for the most popular home-search apps—Zillow and Trulia are names that probably come to mind. Amidst looking at homes, did you ever meander to the privacy policies of companies like these? If not, I invite you to. Why? Your personal info is being sold to third-party companies. These big-hitters are fueled by advertisements, meaning they can target you based on the personal info you provide at sign-up and on your profile. It may not seem like a huge deal that companies are getting your email address and name, but it can become a nuisance. If you’d rather not spend time deleting emails from seemingly random people and companies, HomeScout is your answer. Your Leg-Up on other Home Searches HomeScout is a new home search app that breaks away from other companies simply by its makeup. This service is invite-only, meaning users must have an access code.…

Rent vs Own

To rent or not to rent…that is the question! This debate is becoming more and more popular as many people sit on the fence of home-ownership, wondering whether renting or owning is the right thing to do financially. Even though many people would love to own, unfortunately they’ve been misinformed as to their ability to do so.  The good news is that I’m not here to try to get you to buy a home. On the contrary! I want to share some cold hard facts and the math behind the age-old question of “Should I rent or should I buy” in order to help you make an informed decision. What are the barriers to owning a home? The barriers to home ownership fall within two main issues (a bit like a duel-edged sword): credit and personal decision. Myth-busting the Monthly Payment Right out of the gate, I’d like to tackle…

Self-Employed? Here’s How to Qualify for a Mortgage!

When you work for yourself, the financials of owning a business can be complicated. Really complicated. For example, getting approved for a mortgage as a solo act requires a little more work on your part. Fortunately, you can prepare for this so you can navigate the mortgaging waters with a bit more ease. Consider this your checklist. This may be old news to some, but new to others! Register and license your business. You can register as a LLC (Limited Liability Company) or a DBA (Doing Business As). Note: With DBA, you need to have two months of recent business account statements—or creditor statements/invoices—to prove you’re self-employed. Speaking of proof, it’s always a smart move to keep good records with programs like QuickBooks. This way, you’ll always have the files and information lenders need. Here are a few things you can provide to verify your business: Current statement of bond…

5 Steps to Finding Your Dream Home

So, you’re a first time home buyer. Or, maybe this isn’t your first rodeo in the home buying market. Whatever your experience is, these steps will help you to avoid common mistakes and pitfalls you may not expect. Locate the community that best suits your needs You may come across the perfect home, but what about the surrounding area? Do you need to be within range of a notable school district? Or close to your workplace? Thinking about these necessities will help you sift through listings. Property Taxes A seasoned home buyer may know this already, but property tax varies from area to area. Make sure you are aware of what a listing’s property tax will be before signing. Otherwise, you may be shocked! Buy what you can afford The listing price is one of an assortment of fees that you will responsible for. Closing fees are a great example…

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