When buying a house, everyone has priorities. The buying process is complex and takes time, and it’s easy to get off track. Having written priorities is a helpful way to guide you through the process without forgetting some of the features that are important to you and your family. Your realtor will also want to understand your prioritized list. Understanding …
Read more on our COVID-19 Resource Guide. Spring is typically considered the best time of year to buy or sell a home, but this year, real estate transactions are slowing to a halt. As the number of COVID-19 cases increases exponentially each day, stocks have dropped, businesses have closed, unemployment has risen, and millions of Americans have been mandated to …
HOW TO ASSUME A MORTGAGE? Assuming a mortgage is a process by which you take over the payments on an existing loan rather than secure your own financing to purchase the house. Most lenders include a due-on-sale clause that prohibits a buyer from assuming a mortgage by making the note payable upon the transition of ownership of the mortgaged property. …
HOW TO REFINANCE YOUR MORTGAGE? There are lots of benefits to refinancing your home if you understand the terms of the loan and know a little bit about your future financial outlook. Simply put, refinancing is paying off your current mortgage and creating a new mortgage with more favorable terms. You can adjust your mortgage to pay more per month …
How To Talk to Mortgage Lenders? It can be challenging to speak to a mortgage lender if you do not know what points to bring up or questions to ask. You should prepare to speak to mortgage executives at different types of institutions, such as a bank, a lender, and a broker. In a purchase situation, the first meeting should …
Loan Officers, also referred to as “Mortgage Loan Originators,” are people who work for banks and other financial institutions with the main objective to recommend individual and business loan applications for approval and participate in the front end of the mortgage origination process. Loan officers help people procure loans for houses and businesses helping people buy houses and other types …
A reverse mortgage is a type of mortgage that allows homeowners to borrow against the accrued equity in their homes. The loan is paid back when the loan borrower moves or dies. There are advertisements for reverse mortgages all over the television, radio, and on the internet. However, some of these advertisements make incomplete or inaccurate statements. This is not …
Buying a home is usually the most expensive purchase you will ever make. It will shelter your family, provide security, and be your investment into the future. But what kind of home is right for you? Are you looking for a single-family home, condo, co-op, or townhome? How many floors do you want? How much square footage? Do you need …
In an uncertain economy or an actual recession, you may be facing important decisions such as whether to purchase a car, invest in a risky stock, or become a cosigner for a family member. There are financial risks that everyone should seriously reconsider during risky economic times, including: Contact the Mortgage Company with All the Answers Superior Mortgage Co., Inc. …
Many homebuyers will tell you that closing on a home can be just as nerve-racking as looking for a home and shopping for a mortgage. Anything can happen at the last moment and frequently does. Your mortgage loan officer can help you understand what the pitfalls are so you are able to avoid or minimize closing problems and delays. Before …