Submitted by hkoltermann on Fri, 01/04/2019 - 14:46
If you are buying a home, it may be the largest purchase you make during your lifetime. You want everything to run smoothly from finding the right house, to having your mortgage approved. You may discover that there is a lot of terminology to learn when it comes to mortgages.
To understand the main aspects of the mortgage process, take some time to familiarize yourself with some of the terminology home buyers encounter:
Submitted by hkoltermann on Fri, 01/04/2019 - 11:28
Owning and renting each have their advantages, but what’s best for you depends on your circumstances. Some great things about owning are listed below!
You’ve probably heard the phrase, “pay yourself, not your landlord.” Basically, it means if you own your own home, you can build equity, and eventually, you may be able to sell your home for a profit, or pass it down through generations. As a renter, the equity in the property where you live doesn’t belong to you, and someone else will reap the benefits of the ownership.
Submitted by hkoltermann on Tue, 07/17/2018 - 10:10
Finalizing your mortgage is perhaps the most crucial step in the home-buying process. It’s important to be prepared for pre-closing and closing, so you know what to expect. The lenders here at First Bank Financial Centre have decades of experience and serve as your trusted advisor throughout the entire process. Our goal is to ensure that you feel completely comfortable with each step. Here is what to expect:
Immediately Upon Acceptance of the Final Contract:
Submitted by hkoltermann on Mon, 07/02/2018 - 11:20
As we’ve all been told over and over again, buying a home is one of the biggest purchases you’ll probably ever make. And if the housing market is a seller’s market, there’s a lot of additional things to consider including are you willing to get into a bidding war, are you okay with compromising some items on your wish list, and at the end of the day, can you afford to live the life you’re accustomed to AND purchase this home.
Submitted by hkoltermann on Mon, 04/09/2018 - 09:14
If you’re in the process of purchasing or refinancing a home, or even just in the research stage, you’ve probably heard the term ‘closing costs’ more than once. Closing costs are a necessary part of any mortgage loan transaction. However, not everyone knows what they’re comprised of, why they exist, or how they work. Before we dive in, there are a few terms we’ll reference that we’ve defined below:
Submitted by hkoltermann on Thu, 03/08/2018 - 14:45
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There are so many credit cards out there. How do I choose the right one?
Submitted by hkoltermann on Thu, 05/18/2017 - 12:49
You can easily determine how much house you can afford by following a few general guidelines:
Your monthly mortgage payment, including principal, interest, real estate taxes and homeowners insurance, should not be more than 28 percent of your gross monthly income (before taxes). This is your housing expense ratio.
Submitted by hkoltermann on Tue, 05/16/2017 - 12:30
House hunting can be the most exciting part of the home-buying process. But you must never let those pretty white fences, or beautiful countertops cloud your judgment. It is an investment, after all...and one of the largest you may make in your lifetime.
While viewing a property, write down and keep a look out for the following: