Articles, Tips and Tricks Specifically for Home Buyers
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Assumable VA Mortgage – Pros and Cons
Discover the pros and cons of VA assumable mortgages, learn how they work and expert tips to navigate the process with confidence.
Debt to Income Ratio Calculator
Understanding Debt-to-Income Ratio (DTI) and Its Impact on Your Mortgage Qualification. In this article, we’ll break down what DTI is, how to calculate it, and why it’s such an important metric in the mortgage approval process.
Veterans Guide to Hawaii VA Home Loans for 2024
The VA home loan is one of the best available benefits to Military Veterans. If you are home shopping and eligible for a VA loan, this may be the best option for you and your family.
Navigating High Mortgage Rates: A Guide for New and Move-Up Homebuyers
Navigating the current high mortgage rates is daunting for new and move-up homebuyers. Understanding how to effectively manage these rates is crucial in achieving homeownership.
How to Stop Annoying Telemarketing Calls After Applying for a Mortgage
Have you ever been bombarded with dozens of unwanted calls after applying for a home mortgage? Here’s how to prevent that from happening in the future…
2024 Conventional Mortgage Loan Limits Increased
On November 28, 2023 the Federal Housing Finance Agency (FHFA) announced an increase in these limits for calendar year 2024 to base amount of $766,500 with a “high balance” option for higher cost Counties up to $1,149,824.
Navigating the New IRS Tax Brackets: Understanding the Impact on Homeowners
As the tax season approaches, it’s crucial for homeowners to stay informed about the latest changes in the IRS tax brackets. The year has brought significant updates, reshaping how we approach tax planning, especially for those owning homes.
Mastering the Market: Your Strategic Guide to First-Time Home Buying
This guide is designed to provide you with all the essential information you need to navigate the home-buying journey with ease.
Should I Buy a Home Now or Wait Until Interest Rates Drop?
Interest rates have been on an upward trend over the last year or so and have more than doubled from their 2021 lows. As a homebuyer, seeing mortgage rates rise can be disheartening and make you question if now is still the right time to purchase real estate. However, there are several factors to consider as you ponder which decision is right for you and your family.
5 Tips for First Time Real Estate Investors
Real estate investing can be a great way to build wealth and diversify your portfolio. If you already own a primary residence, you have a unique advantage over others who are just starting out: you have experience buying and maintaining a property. However, investing in real estate is a different game altogether, and there are many factors to consider before taking the plunge.
The VA Home Loan for Active Service Members – How It Works, Advantages and Eligibility
Explore the features and advantages of a VA home loan with this comprehensive guide. Learn about VA eligibility, credit requirements, multiple VA loans, joint VA loans, and more. Get informed and make the best decision for your home financing needs.
Rent or Buy? What is the Best Option for Building Long Term Wealth?
When it comes to wealth building, renting or buying a home offers two distinct paths. Depending on your situation, either path can actually be good to build wealth over time. We’ll discuss the pros and cons of each option.
Should You Choose an Adjustable Rate Mortgage (ARM) in the Current Market?
Are you considering an adjustable rate mortgage (ARM) in today’s market? ARMs can be a great option for those looking to save money on their mortgage payments, but there are also some risks to consider. In this article, we’ll discuss the pros and cons of ARMs in the current market and help you decide if one is right for you.
The Insider’s Guide to Choosing the Best Mortgage Loan Officer
Are you in the market for a mortgage loan? Not sure how to choose the best loan officer for your needs? This guide will help you navigate the process and find the right professional for you. Learn about the key factors to consider and insider tips for finding the best mortgage loan officer for your unique situation.
How to Benefit from a 2/1 Temporary Buydown
The Temporary Buydown is a great tool to significantly lower your monthly payment the first 2 years and help you achieve the dream of home ownership right now!
What Happens After You Apply for a Home Purchase Mortgage Loan?
Completing a loan application with a mortgage lender is pretty similar in many ways to applying for an auto loan or even a credit card. However, a lot of what happens next is much more of a mystery…
Why Am I Required to Pay Private Mortgage Insurance (PMI)?
PMI gets a bad name for many home buyers but does serve an important role. Private Mortgage Insurance (PMI) gives you the ability to finance your home purchase with less than 20% down.
Can You Have Multiple VA Loans at the Same Time?
If you do not currently have full VA entitlement, are you able to secure additional VA financing for a new home loan?
3 Absolute Must-Haves to Buy a Home
There are a lot of factors to consider when buying real estate. Unless you are planning to pay all cash for your home purchase, here are the 3 things you absolutely must have to obtain a home loan.
Three Things You Can Do to Better Prepare for College Expenses
In the last 10 years, students themselves have gone from paying 30% of college costs, to paying close to 50% of their own college costs. This has resulted in driving up the outstanding student loans in the US from $350 billion to a staggering $1.2 trillion over the past 10 years.
Is the Mortgage Interest Tax Deduction Still Beneficial?
Many homeowners in the past (pre-2018) were likely to itemize their mortgage interest and property tax deductions and experience the tax benefits of homeownership versus paying rent. Is that still the case now that the new tax law that has effectively doubled the Standard Deduction and capped the annual deduction for State and Local Taxes (SALT)?
2022 Tax Deductible Items for Home Owners
What home owner deductions are available to you in 2022 for your primary residence to include mortgage interest, property taxes, and closing costs. Has the mortgage insurance tax deduction expired for 2022?
How Lenders Calculate Your Income for Mortgage Qualification
Planning to buy a home? It is very important to understand how lenders calculate your employment or business income for qualifying purposes. The income you earn may not be what mortgage lenders can use to qualify you for a home loan, especially if you are self-employed.
The Mortgage Credit Certificate (MCC). Supercharge Your Tax Benefit as a First Time Home Buyer!
What is the Mortgage Credit Certificate (MCC)? It is program that reduces the Federal income tax paid by a first time homebuyer who meets certain State household income and purchase price limits as well as other Federal eligibility requirements.
Understanding The Unique Hawaii Closing Timelines
In the State of Hawaii, there is some confusion surrounding the “closing date” for real estate purchase transactions. The actual closing date occurs when the transaction officially records with the State of Hawaii Bureau of Conveyances, 2 business days after all mortgage proceeds (if applicable) and home buyer closing funds are deposited and cleared with the escrow company handling the transaction.
Why is the APR Almost Always Higher than the Quoted Mortgage Rate?
The Annual Percentage Rate (APR) can be one of the most confusing aspects of obtaining mortgage financing for home buyers in today’s real estate market.
The Important Difference Between Pre-Qualification and Pre-Approval.
Many professionals in the real estate industry use the terms, “pre-qualification” and “pre-approval” interchangeably but there is an important difference between the two.
Why do Lenders Withhold So Many Months of Taxes and Insurance Up Front?
Many home buyers are surprised by the amount of property taxes and homeowners insurance collected at the closing table. Why does this happen and how does it effect your monthly mortgage payment?
Mortgage Financing Basics – Part III
In part III, we estimate maximum buyer purchase price with Private Mortgage Insurance (PMI) included and determine how it affects your buyer’s max qualification.
Mortgage Financing Basics – Part II
In part II, we’ll demonstrate how lenders pre-qualify your home buyers and how you can determine your buyer’s maximum purchase price depending on their down payment and loan type.
2023 VA Financing Tips for Hawaii Real Estate Agents
Hawaii boasts a large population of Veterans eligible for VA financing. Understand some of the unique characteristics of this popular loan program.
Advertised Mortgage Rates Can Be Very Misleading.
You will always need to dig down deeper with any lender you intend to work with for your home purchase to determine the interest rate and terms you will actually be able to obtain for your mortgage.
What Are Discount Points?
Selecting the lowest available interest rate for your home purchase may NOT be the best option for you. Sometimes the costs involved in obtaining the lowest interest rate outweigh the benefits.
Secrets of Building a Solid Credit History and Excellent FICO Score.
Establishing great credit and achieving an excellent credit score is easily within your reach whether you have no credit history or had credit issues in the past.
Mortgage Financing Basics – Part I
This article lays the foundation for the remaining Mortgage Financing Basics articles by explaining the basics of the debt-to-income ratio and calculating the maximum housing payment for your buyers.
Why Do Many Real Estate Agents Rely Entirely on Lenders for Financing Calculations?
In recent years, mortgage lenders taken much of the responsibility for handling financial calculations for Realtors and their clients. It is now more important than ever that Realtors take back some of this control.
3 Credit Mistakes to Avoid When Buying a Home.
Before applying for a home loan, verify your credit report for erroneous details and correct them. Avoid new credit during the home purchase, and don’t fear credit inquiries while shopping mortgages.
3 Sources of Down Payment You Probably Didn’t Know About.
Your checking, savings and investment accounts are not the only source of funds you can use for down payment. Here are some additional creative options for acceptable cash for a home purchase.
How Lenders Calculate Realtor Income & Advantages of Investment Property
Most Real Estate Agents, unless they run their own brokerage, will file a Schedule C on their Federal Tax Return as a sole proprietor business owner/1099 independent contractor. Therefore, their qualifying income is not calculated the same way as salaried/hourly