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
Things You Should Know About Conventional Loan 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 … [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...]