We're now getting into the actual mortgage process, starting with being prequalfied and/or getting preapproved for your mortgage. This section will show you how to use those those terms and turn them into leverage for making your offer.
We'll also go over some good questions to ask your mortgage lender, and explain a couple things that could factor into your mortgage including buying points and mortgage insurance
- Mortgage Questions Your Lender Needs To Answer
In this article you'll find some questions that you may already know the answer to, but you may also discover a few that would be very beneficial to have your lender answer. - Advantages Of Being Preapproved By Your Lender
Learning how a mortgage preapproval from your lender can benefit you can be a powerful tool when searching for a new home. It could even help you score your dream home over other interested buyers. - Difference Between Being Preapproved vs. Prequalified
Many buyers don't understand the difference, and it can end up hurting you if you don't know which to go with. The last article touched on these two, but this story looks at them a little closer. - Mortgage Insurance (PMI) Explained
If you plan on putting a down payment of 20% or less of your new homes value, this article is for you. Learn what PMI is, and how it will affect your monthly payment. - Is Buying Points On Your Mortgage A Good Idea?
For those people that plan on being in their new home for a long period of time, buying points on your mortgage is actually a good idea. Be careful though or you may end up throwing away a lot of money.
