Posted on
November 16/2020By
northwood
Getting a mortgage is one of the biggest financial decisions you’ll make. To improve your chances of getting your mortgage application approved, there are some common mistakes that you should be aware of. 7 Common Mortgage Mistakes As a homebuyer, it is important to understand how both mortgages and the application process work. This knowledge will equip you to reach your home-buying dreams. It is also vital to understand how to avoid the most common mortgage mistakes, including: Not getting pre-approved for a mortgage. Taking the time to get pre-approved for a mortgage is a valuable step to homeownership. It…
Posted on
November 09/2020By
northwood
A home is a major asset and having mortgage life insurance can offer you a level of protection. Consider how unpredictable life can be. If anything were to happen to you or your spouse, your home could potentially be lost. Moreover, it would put stress on those in your family who are left behind, especially if they have to pay all the mortgage costs on their own. Having mortgage insurance is one way of preventing that from happening. What is mortgage insurance? When you buy a home, there are different types of insurance you can get to protect you, your…
Posted on
November 02/2020By
northwood
Buying a home with a friend can have some advantages, particularly if you are just getting into the real estate market. However, you should seek out some mortgage advice before signing the papers. The Pros of Buying a Home with a Friend There are several benefits to purchasing a home with a friend, including: Mortgage qualification. Getting a loan has become a little more difficult over the past few years. Changes to lending rules mean that lenders have higher qualifying criteria. You’ll need to have a credit score of around 680 and also place 5 percent as a down payment…
Posted on
October 28/2020By
northwood
Buying a home is one of the biggest decisions anyone can make in their life. Becoming a homeowner can help or hurt you financially, depending on your situation. While there is no perfect age to buy a home, you’ll want to ensure that you have the right financial stability before doing so. Yet, when it comes to purchasing a home, anyone who dreams of having their own property can get into the market. Considerations for First-Time Homebuyers Before you decide to purchase your first home, it is important to understand what is involved in the process. You’ll also want to…
Posted on
October 21/2020By
northwood
In the world of investment properties, owning an apartment complex can be one of the best purchases you can make. It’s important to understand how it differs from other properties before deciding if an apartment is the right choice for your investment dollars. What is an apartment building? The first thing to understand is what type of rental property counts as an apartment building. A building with five or more units is considered a multifamily property or an apartment. This means that duplexes, fourplexes, and condominiums do not fall under the apartment category when it comes to investment properties. Financing…
