The contemporary trend towards expansive dimensions is palpable in various aspects of modern life. Oversized soft drinks, large fast-food meals, and expansive smartphones have become ubiquitous. However, one unlikely sector experiencing a similar trend is the realm of mortgages.
Delving into the specifics, what exactly constitutes a jumbo mortgage? How ...
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Are you in the market for a new home? If you plan on using mortgage financing to buy your next home you’ve likely heard the phrase “loan-to-value” or the acronym “LTV” before. Let’s take a quick look at the loan-to-value ratio including why it’s important, how to calculate it, and how it can affect your mortgage.
What is the Loan-to-Value or LTV Ratio?
In short, the LTV ratio is a number that compares ...
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Many mortgage payments are made up of four parts, called PITI. PITI is an acronym that stands for principal, interest, tax, and insurance. It’s important to understand PITI because it is the real number you need to use in order to find out how much mortgage you can afford to pay each month.
One of the biggest mistakes first-time homebuyers make is using only the principal plus interest figure to calculate how much ...
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While there are differing schools of thought when it comes to whether or not a person should pay ...
Getting a mortgage is a significant financial decision, and it is crucial to ensure that you are financially prepared before applying for one. Conducting a quick financial health check before applying for a mortgage can ...
In the realm of real estate, market conditions can differ significantly due to a variety of factors. One such state is known as a seller’s market, which typically benefits those wanting to sell their property. Let’s dive into what makes a seller’s market advantageous for homeowners looking to offload their house and why it’s an ...
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If you dream of owning a house one day, you have probably realized that one of the biggest challenges is saving money for a down payment. You have already found your dream property, but then the lender asks you to put ...
If you’re about to seek approval for a mortgage, you’ll want to ensure you have a solid credit score and clean financial records to ...
The mortgage process is a long and complicated one, with a number of similar-sounding terms that can easily confuse first-time homebuyers. A pre-approval is not the ...
FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages.
The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase ...
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