When buying a home, some individuals are unable to avoid paying private mortgage insurance or PMI. This type of mortgage insurance protects lenders in case the homebuyer defaults on their mortgage. Unfortunately, PMI can add hundreds of dollars to your monthly payments. Consequently, the lender benefits should you default. However, there is a silver lining. […]
The 5 Most Important Factors That Impact Your Credit
There are 3 types of lenders who check your credit score before loaning you money and giving you a particular interest rate – auto dealers, credit card companies, and mortgage lenders. Insurance companies and landlords or property management companies may also do this to determine how responsible you are from a financial perspective when issuing […]
Working With H.O.M.E. Lending
So you have decided to buy a home–Congratulations! Chances are you’re wondering about your financing options. Our mortgage experts at H.O.M.E. Lending are ready to assist and make the lending process convenient, streamlined and personalized. How Do We Differ From Our Competitors? With interest rates still hovering around historical lows, today’s housing market has gotten extremely […]
The 5 Most Common Types of Home Mortgage Loans
If you are looking to invest in a house, the time is perfect. However, many home buyers are unaware of the mortgage options that may be available to them, especially if they’re a first-time home buyer. Choosing the right mortgage for your home buying needs isn’t that difficult if you know how each one works. […]
6 Questions Mortgage Lenders Commonly Ask When Looking at Your Bank Statements
Whenever you’re buying a home, it always helps to be prepared when interacting with the mortgage lender during the closing process. One segment of the process involves reviewing your bank statements and finding any transactions that might raise questions. So, before you apply for a home loan, we recommend that you ask yourself the same […]
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