An age-old question is which is better to buy vs rent a house in Florida. Both sides do have their pros and cons. If you are planning to move to the sunshine state here are some advantages and disadvantages of buying or renting a home. Everyone is different and everyone…
How Much Does An Appraisal Cost For A Home
An appraisal is an independent third party that looks at a home and gives a fair market value based on numerous factors about the property. Of course, these are professionals are taking time out of their day to come and look at a house for hours so how much does…
What Is Included In Closing Costs In Florida
Closing costs are the cost of doing a real estate transaction. Lender, title, insurance, and mortgage broker, fees are included in closing costs and can be found in the closing disclosure. Generally closing costs can be around 3% to 6% of the sales price of the home. Closing costs are…
What Is a Loan Modification And How Does It Work In 2020
If you are falling behind your mortgage payments or can’t afford your current mortgage for personal reasons you have two main options. Apart from foreclosure and bankruptcy, you can do a loan modification or a refinance. A loan modification is a change in loan terms on the current mortgage you…
How Much Does It Cost To Refinance A Mortgage In 2020
Refinancing a mortgage is the process of paying off the old mortgage and getting a brand new one. While there is a cost to refinance a mortgage it can be worth it in savings. The main objective of refinancing is to lower the monthly payments. You can also change terms…
Mortgage Pre-Approval Process For New Home Buyers
When shopping for a new home many sellers would want a buyer to have a mortgage pre-approval before even negotiating on the property. What is a pre-approval letter and what is the process to get one? A pre-approval is a letter from the lender saying this person given all the…
What Is An Arm Loan Mortgage And Should You Get One?
An adjustable-rate mortgage commonly referred to as an arm loan is a loan that’s interest rates and payments can vary from year to year or month to month. An arm loan will have a period of time with a fixed interest rate and then for the remaining life of the…
What Is A Mortgage Broker And How They Save You Money
A Mortgage broker is a private company that negotiates terms of a mortgage between the borrower and lender. A broker needs to be licensed and approved to work in his state of operation. Traditionally you can go to your local bank and get a mortgage through them but going through…
Smart To Put The Minimum Down Payment On A House?
When buying a home lenders usually want you to put a down payment on the house. A down payment is an amount of money you put on the house so the lender knows you also have some risk involved in the transaction. The source of the down payment is also…
What Is A Good Credit Score For A Mortgage In 2020
So you might be in the process of buying a new house and your thinking to yourself “what is a good credit score for a mortgage?”. Credit scores are a huge part of being a consumer in America, especially when dealing with financing. Whether you’re buying a new car or…