5/1 ARM Explained

5/1 ARM Explained

  5/1 ARM home loan – first 5 years same interest rate, then adjusts each year after ARMs can have minimum and maximum interest rate amounts 5/1 ARM can be great for short-term purchases What is a 5/1 ARM? A 5/1 ARM (Adjustable Rate Mortgage) combines...
How to Negotiate Who Pays Closing Costs

How to Negotiate Who Pays Closing Costs

Knowing how to negotiate closing costs can save you money. With the down payment, prepaids, and cash reserves required for buying a house, every cent saved up counts. While most line items on your Loan Estimate which list your closing cost t aren’t that much money...
How Long Does It Take to Buy a House?

How Long Does It Take to Buy a House?

Whether you’re planning to move across the country or down the street, it’s essential to know how long it takes to buy a house. Timing your move with your job and other factors is necessary for a smooth transition. While the length of time it takes to buy a house does...
Mortgage Process Do’s and Don’ts

Mortgage Process Do’s and Don’ts

Do be sure to keep your credit healthy by keeping up with your debt payments. Do gather all of your documentation. Don’t make any big purchases or open any new credit cards. Don’t change jobs.   As you get ready to purchase your dream home, here are few tips for...
5 Disastrous Mistakes Most First-Time Homebuyers Make

5 Disastrous Mistakes Most First-Time Homebuyers Make

Don’t make the mistake of not getting prequalified! Get help from a mortgage consultant! Know ALL the costs! Looking to buy your first home? While exciting, it can be stressful and overwhelming to think about a mortgage, prequalification and down payments. Luckily it...
6 Money-Saving First-Time Home Buyer Tips You NEED To Know About

6 Money-Saving First-Time Home Buyer Tips You NEED To Know About

Buying a home is an exciting time, but can also be stressful and overwhelming. Since it’s one of the biggest decisions you’ll make in your lifetime, it’s important to find out how you can make the most of this investment. Follow these 6 steps to get a simplified home...