Transaction Timelines: Financing Deadlines Tips
Transaction Timelines: Tips for hitting your Home Financing Deadlines Closing a mortgage loan is one of the last phases of the home buying process, but one of the most important, as you cannot purchase a home without the money to back it up. Having a strong understanding of what makes up the home closing process […]
Credit Scores: What a Lender looks at when considering your Loan Application When purchasing a home, it is important to know your credit score and how that three digit number can influence your opportunities for obtaining a home loan. Your lender looks at your credit score very carefully to decide whether or not they will […]
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Mortgage points, the upfront free a buyer can pay to lower their monthly interest rate, are very common, but often misunderstood. In this video, David Talbott, a Mortgage Advisor with Samuel Scott Financial Group, shares the basics of how Mortgage Points impact a home loan. Find out how to calculate the cost of points and […]
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In this video, Debra Roberts, a Mortgage Advisor with Samuel Scott Financial Group, explains the difference between two common types of mortgages: Fixed Rated Mortgages and Adjustable Rate Mortgages. She breaks down the pros and cons for each type of mortgage and answer the most common questions borrowers have about these two types of home […]
Continue reading …In today’s economy, it’s not uncommon for borrowers to have less than perfect credit. When the housing market crashed in 2008, many people lost their jobs and were left struggling to make ends meet. These financial hardships led to missed mortgage payments, foreclosures and sometimes even bankruptcies. But now, as the economy begins to shift, […]
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In today’s economy, coming up with enough money for a down payment and closing costs can be challenging, especially for younger and first-time home buyers. It’s not uncommon for home buyers to borrow money from family or close friends to help with the costs of purchasing a home. In this video, Christian Alvarez, a Mortgage Advisor at […]
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While the majority of borrowers use conventional financing for their home loans, sometimes non-conventional financing is a better option… and sometimes non-conventional financing is the only option. In this video, Christian Alvarez, a Mortgage Advisor with Samuel Scott Financial Group, explains the different types of specialty loans that are available for buyers with “out of the […]
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Private Mortgage Insurance (PMI) is required any time you are financing a loan that is higher than 80% Loan to Value. Or in other words, if your down payment is less than 20% of the home’s sale price. In this video, Mark Robertson, a Mortgage Advisor with Samuel Scott Financial Group, explains Private Mortgage Insurance payments, terms […]
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The term REFINANCE can be misleading. It doesn’t involve re-working an existing mortgage, but rather taking out a brand new loan. Basically, you will be paying off the old loan with a whole new loan. Which means the refinance process will be very similar to the one you went through when getting your original mortgage. In […]
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To Buy or Not to Buy: That is the Question… It’s not uncommon to hear people talk about delaying the home-buying process until home prices drop, in order to guarantee that they are purchasing a home at the best possible price. As a Mortgage Advisor with Samuel Scott Financial Group, Mark Robertson frequently hears people voice their […]
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In this video, Mark Feder, a Mortgage Advisor with Samuel Scott Financial Group, explains the process for getting a home loan, breaking it down into four easy steps. They are: Loan Application Processing Underwriting Closing / Funding The first step of getting a home loan funded is the Loan Application process. During this phase, your Mortgage Advisor […]
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Ever wonder why it is that some home loan transactions don’t close on time, leaving both the client and real estate agent hanging? More often than not, it is for a completely preventable reason. Mark Robertson, Mortgage Advisor with Samuel Scott Financial Group, has been in the lending business for more than a decade. Throughout this […]
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