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The Mortgage Statement

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Checklist For The First-Time Homebuyer

Recent data from the National Association of Realtors shows that first timers make up 38% of the home buying market.  If you’re in that group of newbies, there are several steps you need to take in preparation for your purchase.  I went on air with THV's Ashley Blackstone to discuss our handy checklist for first-time homebuyers. You can watch our interview here and read further down for more details.   

Tips To Prequalify For Your Home Loan

A key step in getting a mortgage is prequalifying. Mortgage prequalifying is like having a guide when you climb a mountain – the mortgage lender will help you go through the mortgage application process. This necessary and helpful step gives you and your mortgage lender a clear picture of your financial standing and credit worthiness. It also reveals any items you need to shore up to get the loan. 

Monday Mortgage Memo 7/14/14

Check out our rates here to see if now is a great time for you to buy. 

Finding the Right Mortgage

Summer is a “hot” time for home sales. According to the National Association of Realtors, most house sales take place between April and July. Recently our Senior Vice President Lee Maris went on air with KTHV's Ashley Blackstone to talk about financing and figuring out how much you can afford on a new home. You can watch the interview below and read further down for more details. 

How To Prequalify For A Home Loan

Before you dig into the details of applying for a home loan, it is advisable to take small steps and determine what mortgage finance opportunities are available to you. The first step to take is quick, harmless and does not bind you to any agreement or contract. See if you prequalify for a home loan. Prequalification applications usually take less than five minutes to complete, they process through the mortgage banks in typically a business day and give you a good idea of how much home you can afford. 

What Every First-Time Homebuyer Needs To Know

If you’re thinking about buying a home and getting your first home mortgage, these five steps can help ensure you get the right house for your situation and the affordable financing that helps make homeownership a long-term success:                                                                                       

Step 1. Educate Yourself

Renting vs. Buying: What's Your Best Option?

“Should I buy a home or rent?” This is a question a lot of people ask. And there are pros and cons to each. Recently, I sat down with KTHV's Alyse Eady to discuss what those pros and cons are and how to decide which is the best option for you. You can watch the interview below and read below for more information. 

Credit Scores and Buying That First Home: 4/8/14 THV Interview

Credit scores influence a lot of things in our lives. Your score can mean the difference between being denied or approved for credit, and whether you receive the best terms you available. This week, I got to speak on air with Alyse Eady on THV's Money Matters segment to talk about how that all important score affects your ability to buy a home. 

The Importance of Home Inspections

For a prospective home buyer, it can often seem as though there are endless procedures and reams of red tape standing between you and your new home, and it can be tempting to eliminate what seem like unnecessary extra steps – especially if you think it might give you an advantage over a competing buyer. However, if the step you're thinking of cutting is the professional home inspection, there's one word of advice that you should consider: don't. Just like you wouldn't buy a used car without a vehicle history report or a thorough examination by a mechanic, you shouldn't open yourself to the risk of buying a home without knowing the potential health hazards and expensive repairs that may be part of the deal. In addition, don't underestimate the importance of home inspections as a bargaining tool; if problems are discovered during the inspection, you can require the seller to repair them as part of the deal, or use them to negotiate a lower price for the property.

Where Do Mortgage Rates REALLY Come From?

Mortgage rates are derived by the buying and selling of mortgage bonds, more specifically mortgage-backed Securities. So what is a mortgage-backed security? Mortgage-backed security, or a MBS, are investments, somewhat similar to stocks, bonds or mutual funds. Their value is secured, or backed, by the value of an underlying bundle of mortgages. When you buy a MBS, you aren't buying any actual mortgage. Instead, you are buying a promise to be paid the return that the bundle of mortgages will receive. An MBS is considered a derivative, because its value is derived from the underlying asset, in this case mortgages.

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