Tips

Preapproved Vs Prequalified When Securing A Mortgage Loan

If you’re in the process of becoming a homeowner, then you’ve probably come across these two terms: preapproved and prequalified when talking about a mortgage. But what do they mean and how could they help you? Let’s break that down here.  What Is A Prequalified Mortgage?  Prequalification is an early step on your journey to…

What You Should Know About Home Appraisals

In order for a home to be purchased, it needs to undergo an appraisal process that determines its value in the current local property market. If you’re buying or selling a property in Homewood or Albertville, it’s important that you understand the home appraisal process and what factors might affect the value of the property…

A Quick Guide To Closing Costs

Closing costs are the fees you’ll pay when buying or selling a property. If you’re looking to buy a property in Homewood or Albertville, your lender will typically require that you cover these fees upfront as part of the mortgage application process.  The closing costs for buyers vary, but it’s usually advised that homeowners prepare…

Buy Vs. Rent- Which Is Right For You?

When the real estate market takes off and home supply is stretched, the urge to finally jump in and buy a home before they’re “all gone” is strong. If you’ve been considering buying after only renting in Albertville or Homewood, seeing housing inventory drop so quickly can be nerve-wracking. However, giving in to the fear…

4 Benefits of Using an Online Mortgage Calculator

When buying a home and signing a mortgage, you want to make sure you are making informed decisions. Fortunately, there are countless tools to help you find a home, find a lender, and get you settled in a new home.  One of the best tools for homebuyers is an online mortgage calculator.  They are pretty…
va veterans loan

What is a VA Loan and How Does It Work?

When shopping for a mortgage knowing your options can make a heap of difference.  For military borrowers, a VA Loan the best option on the market. Since 1944, VA Loans have helped more than 24 million veterans or service members purchase their homes.  A VA Loan is a mortgage option offered through private lenders and…

What Are the Pros and Cons of a USDA Loan?

USDA Loans require no down payment and offer low-interest rates. Backed by the U.S. Department of Agriculture, these loans are extended to low- and moderate-income families looking to purchase a primary residence in a rural area.  Specifically, USDA Loans began when the U.S. Department of Agriculture introduced the Single Family Housing Guaranteed Loan Program in…
local lender

What is Upfront Mortgage Insurance?

Navigating the ins and outs of the mortgage process can seem overwhelming. If you’re unfamiliar with home loans, the best thing you can do is educate yourself. A better understanding of the process will help you feel confident, making it the overall endeavor less stressful.  Upfront Mortgage Insurance might be one of those aspects of…
monthly mortgage

Understanding Your Monthly Mortgage Payment

Your monthly mortgage payment comes due each month, but do you really understand where your money is going and what it’s being applied to? Knowing how your money is being applied and what it means for your overall financial health is really important.  Every monthly mortgage payment might look different, but they all have these…

The Power Of Choice When Refinancing A Mortgage

Refinancing your mortgage can help you get a better interest rate and save money in the long run. To get the best possible interest rate, you’ll need to shop around and compare rates from a number of different lenders. Even if your current mortgage lender is offering refinancing, they might not actually provide the best…