Serious homebuyers know that getting a pre-approval from a mortgage lender is the first important step before they go out to the market and look for their dream homes. Pre-approval helps homebuyers determine the amount they could borrow to buy a home. Most sellers accept offers from homebuyers who have already been pre-approved by a mortgage lender.
Making home improvements is one of the benefits of homeownership. After a few years of comfortable living, you may want to do some renovations or remodeling to make your home even more comfortable and to reflect your lifestyle. Hiring a home improvement contractor could be a convenient option for those who don’t have the time or necessary skills needed to complete a project. If you’re considering hiring a home improvement contractor, there are helpful tips you may want to consider to ensure your hard-earned money doesn’t go to fraudulent individuals who might offer you renovation or remodeling services.
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First-time homebuyers who already have a mortgage pre-approval may find it frustrating if they find a property they can call “home” but never receive any word from a seller after sending an offer letter for the house. It’s no surprise if sellers receive a lot of house offer letters as the inventory of listed homes reaches an all-time low. In this situation, homebuyers should write a compelling house offer letter to possibly convince the seller to accept their offer. Home sellers might have varying factors when choosing a buyer who would occupy their once beloved home, but there are things homebuyers could do when writing an offer.
The U.S. Department of Veterans Affairs (VA) offers home loan benefits for eligible veterans. These benefits could be extended to the surviving spouses of veterans in the unfortunate event of their demise. As a surviving spouse of a veteran planning to get a VA-backed home loan for the first time, here are the important things you need to know:
For most people, fulfilling the American dream of homeownership could be very complicated and stressful. This is because the homebuying process involves several entities, strict requirements and deadlines to meet. An escrow company is one of several entities that perform a critical role in ensuring a smooth homebuying transaction.
First-time homebuyers are often advised to shop for a mortgage lender to possibly get the most competitive offer they can comfortably repay. Homebuyers will encounter “PITI” or Principal, Interest, Taxes, and Insurance when they receive a loan estimate from several mortgage lenders.
Aside from having a comfortable shelter for the family, building home equity is one of several reasons why many people buy a home. Over the years, homeowners who dutifully repay their monthly mortgage in a timely manner should know that they can reap the rewards on their investment especially during this time that the country’s housing industry continues to get better.
Mortgage refinancing is making a buzz as interest rates continue to become favorable to eligible homeowners. As a VA home loan beneficiary, you could get unsolicited offers from mortgage lenders and other financial institutions to seize the opportunity to reduce your monthly payments. Although the U.S. Department of Veterans Affairs (VA) makes it possible for eligible VA home loan beneficiaries to fulfill their homeownership dreams, there could be situations when refinancing can make a VA home loan even more rewarding.
Families may consider relocating to another home because they either want to downsize or upgrade to accommodate the growing needs of a family. Some families planning to relocate may find it beneficial to use a bridge loan, especially for those who want to avoid the stress related to finding and moving to a new home.