Shop for a Mortgage Without Impacting Your Credit Score
A home is likely the biggest purchase someone will make in their life, and more often than not, they’re going to need a mortgage to make the purchase. Unfortunately, shopping around for a mortgage can impact the buyer’s credit score, which can make it more difficult for them to be approved or get a good […]
Why Choose Fellowship Home Loans?
Buying a home isn’t something that’s done fast or without a lot of thought going into it. It’s something that you’re going to live in for at least the next few years and is going to have an impact on your future, not to mention your finances. When it’s time to pick out a lender, […]
What the Debt-to-Income Ratio is and How to Figure it Out
Buying a home can be a thrilling yet stressful process. For first-time homebuyers, there are a lot of new terms to understand before they start looking at homes to buy. One of the most important terms is the DTI or debt-to-income ratio. This number helps mortgage lenders determine if they’re going to offer a loan […]
Is it the Right Time to Refinance Your Mortgage?
Right now, a lot of homeowners and investors are talking about refinancing. But, how do you know if this is actually a good option? Not only do homeowners need to think about whether it’s the right time to refinance, but if refinancing is actually a good idea for them. There is a lot to think […]
What is PITI? Mortgage Payments and Escrow Accounts Explained
Buying a new home is thrilling, but it can also be very confusing for new home buyers. Lots of acronyms are common in the mortgage industry, and those who are buying a home for the first time can have trouble understanding everything that is being discussed. PITI is one of these acronyms and it, along […]
Everything You Should Know About Reverse Mortgages
Reverse mortgages are a special type of loan based on the equity of the home. Instead of getting money from a lender and making regular payments, the lender provides cash based on the home’s equity and records a lien against the property. The money does not need to be repaid as long as you live […]
Ways to Improve Your Credit Score to Purchase a Home
Purchasing a home with a mortgage requires a good credit score. Unfortunately, it’s all too easy for a credit score to be lower than expected. If you’re planning on purchasing a home in the next few months, take the time to learn more about the impact your credit score will have and how you can […]
What You Need to Know About Refinance Loans
There’s a lot of talk about refinancing homes right now with all-time low interest rates. Refinancing can be an excellent option if you’d like to take advantage of the lower interest rates or for other reasons. However, it is important to look into refinancing carefully before jumping in and applying. If you’re considering a refinance […]
Understanding Home Buying Lingo and Terminology
No matter if someone has bought a home before or they’re looking for their first home, the terminology used can be confusing. There is a lot of lingo that’s specific to real estate, so it can seem like a real estate agent, or mortgage broker is almost speaking another language when they use these terms. […]
No Contact House Hunting
The COVID-19 crisis has dramatically changed the way society works but staying safe and healthy does not have to mean living with a less-than-perfect house. Like most sectors of the economy, the real estate sector has made some changes to facilitate virtual, no contact buying. Aspiring homebuyers may already have noticed an increase in listings […]
