two hundred dollar bills formed to shape a paper house on a table

Making a Down Payment On a House

Making a Down Payment on a House A lot goes into buying a home, but one of the biggest hurdles for many is saving enough for a down payment. What is a Down Payment? A down payment is a percentage of the home’s purchase price that you pay upfront. In other words, the down payment is the part of what …

couple looking at mortgage application checklist in new house

Mortgage Application Checklist

Mortgage Application Checklist One of the most tedious parts of home buying is gathering the right documentation, but prepping beforehand makes it that much easier. The documents required for a mortgage application can be categorized by type: Proof of Income/Employment, Proof of Assets, Credit History, and Residential History. These give potential lenders a glimpse into your situation so they see …

credit card on top of keyboard with home icon on ENTER key

What is a HELOC?

What is a HELOC? What is a HELOC and how does it work? A home equity line of credit (HELOC) is a line of credit that allows you to tap into your home’s equity or the difference between what your home is valued at and how much you owe on it. How it Works Like a credit card, a HELOC is a …

key with house keychain sitting in front door

Working with a Lender

Working with Your Mortgage Lender Investing is like life – nothing ventured, nothing gained. And, purchasing a home may be the largest investment you ever make. Most lenders require you to complete a mortgage application—a comprehensive financial statement, which can feel overwhelming and complicated. But with the right lender, you’ll be able to easily navigate the necessary steps it takes …

wooden houes cut out with stacks of growing coins behind it

Buying A House

Buying a House How do you know when it’s the right time to consider buying a home? Where do you begin? Start by defining your goals. Consider where you want to live, the features you’re looking for, what you can afford, and a realistic date for having the money you’ll need. Then apply your knowledge to making this key decision. …

wooden houes cut out with stacks of growing coins behind it

The Cost of a Mortgage

The Cost of a MortgageSince monthly payments spread the cost of a mortgage loan over an extended period, it’s easy to forget the total expense. For example, if you borrow $200,000 for 30 years at 6% interest, your total repayment will be around $431,680, more than two times the original loan. What seems like minor differences in the interest rate …