Budgeting: How to Manage Large Mortgage Payments when Buying a Costly, High-value Home
By Peta-Gay
March 2, 2015

Some people try to apply for as small of a mortgage payment as they can reasonably afford to, and there is some prudence associated with this line of thinking. After all, recent economic events have shown that those who get over-extended may wind up in a dire financial situation. However, there are also benefits associated with a higher mortgage and buying a slightly larger home if you can comfortably afford to do so.

For example, the rate of growth on equity will ...

Buying a Home in the Spring? Five Tips on How to Select the Right Mortgage Lender
By Peta-Gay
March 3, 2015

When home buyers are shopping for a new home, their shopping is not just limited to the house they want to live in. In addition, they must shop around to find the right mortgage lender to meet their needs. This process is not as hard as it seems at first glance. For home buyers who want to find the perfect mortgage lender, they can follow these five steps.

1. Ask Friends and Family for Recommendations

One of the best ...

Buying a Rental Property? How to Choose Between Single-family and Multi-family Homes
By Peta-Gay
March 4, 2015

Entering into the real estate market requires time and monetary commitment. Depending on the purpose for purchasing rental property determines whether one should invest in a single family or multi-family dwelling. In either case, one should prepare short or long term goals, be cognizant of his or her financial health and monetary comfort zone, and conduct a comparative market analysis before considering a real estate investment.

Short Term Versus Long Term Investments

For investment purposes, a multi-family ...

Buying Your First Home? Here's Why You'll Need to Ensure You Have a Proper Home Inspection
By Peta-Gay
March 5, 2015

There’s a whole lot to learn when buying one’s first home, an investment that can bring joy, but sometimes, grief. A competent real estate agent can assist in locating those homes that meet the home buyer’s needs and can advise on factors such as market value of the home and neighborhood services. The agent will help the buyer through the negotiation and purchase process. But the buyer should take responsibility to make sure that the steps ...

Do You Need Mortgage Insurance Even if It's Not Required by Your Lender? Let's Take a Look
By Peta-Gay
March 6, 2015

Finding a proper mortgage loan and understanding the processing procedures behind the loan is the basis of good research. The down payment on a mortgage loan is typically significant when dealing with mortgage insurance. Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be required even if it's not typically required by your lender.

Underwriting Requirements

Most home mortgage applications undergo a strict set of ...