fbpx

Purchase

Mortgage

Understanding Your Finances
Understanding Your Finances 1024 536 ericjhopkins

  One of the first steps in the homebuying process is fully understanding your finances. It’s important and necessary to help you determine how much you can afford. Start by asking yourself the following questions and gather all your supporting documentation: What is your annual…

read more
Getting Pre-Approved Should Be Your First Step
Getting Pre-Approved Should Be Your First Step 1024 536 ericjhopkins

Many potential homebuyers underestimate their purchasing power and overestimate the down payment and credit scores needed to qualify for a mortgage today. Completing a quick and easy pre-approval is the first step in determining all mortgage options available to you. Benefits of being Verified by…

read more
3 Keys to Buying a Home
3 Keys to Buying a Home 1024 683 ericjhopkins

Mortgage guidelines for first-time homebuyers have changed over recent years. In order to ensure loan approval, you need to have everything in order before your application. Credit Credit is very important for the first-time homebuyer. An FHA loan allows a lower credit score, sometimes as…

read more
Pre-Qualification vs. Pre-approval
Pre-Qualification vs. Pre-approval 1024 684 ericjhopkins

Two often confused terms in the home buying process are a mortgage loan pre-qualification and a home loan pre-approval. Here’s what you really need to know about each one. Pre-Qualification A mortgage pre-qualification is simply an estimate of how much home you can afford and…

read more
Private Mortgage Insurance
Private Mortgage Insurance 1024 778 ericjhopkins

PMI, aka private mortgage insurance, is a type of mortgage insurance from private insurance companies used with conventional loans. Similar to other kinds of mortgage insurance policies, PMI protects the lender if you stop making payments on your home loan. PMI can be arranged by…

read more
Moving Checklist & Planner
Moving Checklist & Planner 1024 555 ericjhopkins

Let’s face it, moving is stressful. Moving all your belongings from one place to another is hard, and so is relocating your life in general. But, let’s not forget that moving to a new place is an exciting time! We scoured the internet looking for…

read more
Why was I countered?
Why was I countered? 1024 768 ericjhopkins

As a homebuyer, if you make an offer below list price, the seller may choose to reject, accept or simply let the offer expire. If there are multiple offers, the listing agent will lay out the options for their client and then notify all buyers’…

read more
New Mortgage Rules For Self-Employed Borrowers
New Mortgage Rules For Self-Employed Borrowers 1024 683 ericjhopkins

Being your own boss comes with a lot of perks. Easier mortgage approval may not be one of them. If you’re self-employed, you must meet different requirements than a salaried person to qualify for a mortgage. The rules about updated in recent months to take…

read more
Why Use a Local Mortgage Lender?
Why Use a Local Mortgage Lender? 1024 667 ericjhopkins

Real estate agents who would represent you as a buyer do care which lender you use. They’ll often suggest that you use a local lender who’s experienced with your area’s nuances, such as local taxation rules, settlement procedures and appraisal methodologies. These areas are all…

read more
Pen Pals with Your Mortgage Lender?
Pen Pals with Your Mortgage Lender? 628 419 ericjhopkins

According to a piece in the Wall Street Journal, it is a common practice for underwriters to reach out to borrowers asking for letters of explanation sometimes referred to as “comfort letters” to firm up mushy spots in their knowledge of borrowers’ situations. These letters…

read more
  • 1
  • 2