The Gift That Could Help You Buy a Home: What You Need to Know About Gift Funds
The holidays are approaching, and that means family gatherings, Christmas shopping, and the annual question of what to give someone who seems to have everything. But what if the most meaningful gift this year wasn’t something wrapped under the Christmas tree? What if it was help purchasing a home? I’ve worked with buyers whose parents…
Read MoreA Home Full of Memories: What Happens to a Mortgage When a Loved One Passes Away?
Think about the home where you grew up, the kitchen where your grandmother made Thanksgiving dinner, or the living room where your family gathered around the Christmas tree. Maybe it’s the front porch where conversations lasted long after the sun went down. Some of our most treasured memories are connected to a home. A home…
Read MoreIs Your Dream Home Hiding a Surprise? Why Fall Is a Smart Time to Look Beyond the Listing Photos
Fall has a way of making houses look especially inviting. A beautiful front porch, pumpkins by the door, warm lighting in the windows and a cozy living room can make it easy to picture yourself celebrating the holidays in a new home. But before you fall in love with the decorations, let’s talk about what…
Read MoreDon’t Let Your Mortgage Plans Fall Through the Cracks
Fall is a season for change. The weather cools down, the holidays start creeping onto the calendar, and before we know it, another year is coming to an end. It is also a good time to take a look at your plans for buying a home. If homeownership is something you are considering in the…
Read MoreThe Mortgage Horror Stories I’d Rather You Never Experience
October is the perfect month for scary stories. But when it comes to buying a home, I prefer the kind of horror story that ends with, “Thankfully, this didn’t happen to me.” After nearly 40 years in the mortgage business, I can tell you that some of the scariest problems don’t involve haunted houses. They…
Read MoreThe House Is Perfect. The Monthly Payment May Not Be.
One of the easiest mistakes to make when shopping for a home is focusing on the purchase price instead of the monthly payment. A $450,000 house is a $450,000 house, right? Not necessarily when it comes to what it costs you each month. Two homes with the exact same sales price can have noticeably different…
Read MoreBefore You Move Money Around, Talk to Your Lender
You’ve found the house. Your offer is accepted. The loan is moving along nicely. Then you decide to move $20,000 from one account to another. Or pay off a credit card. Or deposit the cash you’ve been keeping at home. Or your parents send you money to help with closing. All perfectly reasonable things to…
Read MoreThe Home Passed Inspection. So Why Could the Mortgage Still Hit a Snag?
Getting a clean home inspection feels like a big green light. The roof looks good, the plumbing works, the foundation seems solid and you’re already mentally deciding where the furniture will go. But there’s something many buyers don’t realize. A home inspection and a mortgage appraisal are looking at the property for two very different…
Read MoreThe House Is Affordable. But Is the Lifestyle?
Getting approved for a mortgage and being comfortable with the cost of owning a particular home are two different things. When buyers look at homes, it is easy to focus on the purchase price and estimated mortgage payment. But the house comes with a life attached to it, and that life has expenses that may…
Read MoreYour Down Payment Is Not the Same as Your Cash to Close
One of the most common surprises for homebuyers happens when they hear the words “cash to close.” They may have saved enough for their down payment and assume that is the amount they will need at closing. Then they see additional costs and wonder where all those numbers came from. Your down payment is part…
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