For most people, there is no more significant a financial transaction in their lifetime than that of a mortgage loan. Despite its importance, getting a mortgage is infrequent enough for the average person that it can be a daunting process.
Real Estate/Mortgages
We have discussed preparing your finances for a mortgage, selecting a loan type, and choosing your lender. Now we will look at the loan application process itself.
We have discussed preparing your finances for a mortgage as well as selecting a loan type. Now it is time to talk about choosing a lender. There are a few factors to consider when making this decision.
We have discussed how reviewing your finances is an important first step toward applying for a mortgage. The next step is to determine what kind of mortgage is the right one for you. If you didn’t know there were multiple kinds, you are in the right spot!
The first thing you have to do when preparing to get a mortgage is to evaluate and prepare your finances. This seems somewhat straight forward, but there are several important steps you ought to take to make your mortgage loan application go more smoothly, and to ensure that you get the best rates possible.
Oftentimes in crisis we make less than the very best of decisions. Our thoughts may be swayed by news media or social media or even family and friends, who all have an opinion. What I’d like us to think about is what opportunities will be coming our way when everyone around us is near panic. What we are NOT suggesting is “how can we take advantage of someone because of their circumstances.”
When we started the Money Coaches, we did so because we felt that providing financial coaching filled a very real need and that it could benefit just about anyone. The way we thought it could help the most was as an employee benefit. While we are happy to help individuals, our main focus has been on working with companies to do just that. Why?
Owning a home is expensive. This is not new information to most, but it is surprising just how expensive it can be. Another surprise is where some of those costs can occur. As a general rule, surprises are not welcome in personal finance. We want to be able to identify the types of expenses that will occur and plan for them. That is why it is so important to understand what you are getting into when buying a home. Here are some commonly overlooked expenses that mess up your budget if they are not accounted for.
The process of buying a home is very emotional. That can lead to bad decisions that rely more on feeling than practicality. HGTV makes the process seem so glamorous that we can get more focused on finding our “dream home” than finding a home that meets our needs that we can actually afford. This is even more problematic for a first time home buyer. So here is a list of things to make sure you do when buying a home for the first time. It is intentionally brief because each of these sections links to posts which go into greater detail about their respective subjects.
Home ownership is something that feels like a benchmark for citizenship for many Americans. It is like a rite of passage for us and something that we look forward to the opportunity to experience. However, buying a home comes with inherent responsibilities and risks. We have purchased a few homes in our time; some wins, some losses.