Tips

Pre-Qualification vs. Pre-Approval: Knowing the Difference

As you prepare to finance a new home, chances are you’ve heard the terms “pre-qualify” and “pre-approval.” Although many real estate buyers use these terms interchangeably, they’re different. Therefore, as a homeowner, understanding these differences ensures you know which to get. So What’s The Difference Between Pre-Qualification and Pre-Approval? Pre-Qualification Normally, this is the first…

Why Do Interest Rates Matter?

If you have been keeping up with the news lately, you may have noticed that there is a lot of consternation regarding what the Federal Reserve Bank, or the Fed, is doing with interest rates. However, these “big moves” are usually decimals of a single percentage point, leaving those that are not experts in finance…

Common Mistakes To Avoid When Bidding on a Property

Buying a house, in general, can be a stressful process – but when it comes to bidding on properties, it can be easy to let your emotions and impulses get the better of you. Whether it’s a dream property or you’re just desperate to find something in your price range, it’s easy to make a…

Congrats! Your Offer Has Been Accepted… Now What?

Your offer has been accepted, and you’re well on your way to having the keys for your new property in your hands. Once you’ve finished celebrating, it’s time to look at the next steps you need to go through before your moving date – and there’s plenty still to do. Here’s what happens next once…

Local Lenders vs Big Banks

Are you a first time home buyer? No matter how far along you are in the process of buying your first home, whether it is initially browsing on Zillow or working with a real estate broker to find the perfect place, you are probably well-aware of the importance of securing financing on good terms. However,…

What Is PMI and How Can I Get Rid of It?

PMI, or Private Mortgage Insurance, is a form of insurance used by mortgage lenders to reduce the potential risks associated with low down payment mortgages. Most lenders require it to be on a mortgage for over 80% of the value of the property. Essentially, PMI is designed to allow the bank to claw some of…

How to Offset the Cost of a Move

Moving can be incredibly expensive. Just the cost of a new deposit or down payment can be pricey, but when you add in the costs of moving services, car rentals or flights to get to your new home, and new furniture, you can end up spending thousands of dollars. There are plenty of small things…

New Mortgage? Refinancing Could Still Save You Money!

It might not seem plausible at first – but refinancing a new mortgage could actually save you money. With mortgage rates falling to record lows in 2020, millions of new and recent homeowners could save around $150 per month on average. It appears that homeowners are beginning to understand this. At the beginning of March…

I’m Ready to Get Prequalified, What Do I Need?

Prequalification is the term given to an informal evaluation of your worthiness as a borrower for a mortgage/loan. During prequalification, your potential lender will take into account how much you can afford to repay each month. Prequalification is an indicator as to whether you meet the minimum requirements for a loan, and how much of…

Improve Your Credit Score in 30 Days: Here’s How

There are many reasons why you may want to improve your credit score quickly. Perhaps you’re eyeing up a vehicle for finance, or considering your first mortgage on your dream home. Whatever the reason, a problematic credit score can quickly leave those dreams in the dust if it’s left unresolved. Whether it’s down to past…