Did you recently try applying for a mortgage or another loan after you looked up your credit score using the free tool provided by Credit Karma? Perhaps you faced an unwelcome surprise. The lender might have turned you down or offered you a lower rate than you’d projected. There is a specific … [Read more...]
Is 2021 a Good Year to Buy a Home in Virginia?
2020 was an unprecedented year with respect to just about everything, including its impact on the real estate market. Maybe last year you were thinking about buying a home, but you decided to wait—or perhaps you planned to shop for a home in 2021 all along. Either way, you are probably wondering … [Read more...]
4 Reasons Southwest VA is the Perfect Place to Raise a Family
Thinking about moving your family to Blacksburg, Abingdon, Marion, or elsewhere in Southwest VA? Buying a home in Blacksburg or any of the surrounding communities is a great choice for anyone but may be an especially ideal fit if you have kids to raise. Here are a few reasons to consider settling … [Read more...]
Avoid These Mistakes When Buying a Home for Retirement
If you are shopping for a home for retirement, it helps to know what mistakes to avoid so that you can save money and choose a home that will be ideal for your needs over the years to come. Mistakes to Avoid When Buying a Home for Retirement Below are some common pitfalls that retirees and … [Read more...]
Financial Tips When Buying a Home During COVID-19
This is an unusual time to be shopping for a home, but we are seeing record low mortgage rates, so it can also be an advantageous one. If you are going to purchase a home during COVID-19, it is important to weigh all the financial considerations involved with respect to current and possible … [Read more...]
Mortgage Insurance Premiums (MIP) vs. Private Mortgage Insurance (PMI)
Depending on the type of mortgage you are applying for, how large a down payment you are making, and your credit score and DTI ratio, you may be required to purchase insurance along with your monthly payments on your home loan. Usually, this type of insurance is referred to as "private mortgage … [Read more...]
How Do You Verify Your Assets When Applying for a Mortgage?
When it comes to evaluating your qualifications for a home loan, a variety of factors will be assessed. These include your credit score, DTI ratio, employment status, and your assets. The more assets you have, the less risky you are to lend to. Proving your assets can be particularly important if … [Read more...]
Virginia Conventional Loan Limits Higher in 2020
If you are in the market for a home in Blacksburg or elsewhere in Virginia, a conventional mortgage is a great way to save money on your down payment and get a loan term and mortgage rate which suit your needs. If you buy a home in 2020, you will discover that it is easier to qualify for … [Read more...]
How Do You Know Whether a Refinance Is Worth It?
If you are thinking about refinancing your home in Virginia, now is a pretty good time to do it. Mortgage rates have climbed a little bit since the linked post but remain low compared to last year. You probably know, however, that refinancing carries a cost. You may wonder whether it is worth … [Read more...]
With Fixed Mortgage Rates Dropping, Now is the Time to Refinance Your Virginia Home Loan
Have an adjustable rate mortgage (ARM) and been thinking about refinancing to a fixed rate? You may want to consider taking action. If you have been following mortgage rates closely over the past couple months, you are probably aware that rates have been quite low. Now, according to the most recent … [Read more...]
