Using a Local Mortgage Broker-Loan Officer vs. a Bank
When you are in the market for a mortgage, you have two basic options. Some people will go to a bank and apply for a loan. However, a local loan officer may be a better option. Mortgage brokers navigate loan options on behalf of their clients, the home buyer, to help...
Selling Your Home in Maryland During a Pandemic
The pandemic has changed a lot about life in general. For homeowners considering putting a home on the market, questions about how to do so safely are common. If you're considering selling your Maryland home during this pandemic, here are some tips and tricks to help....
Property Appraisal, Buying a Home, and Your Mortgage
When you are buying a home, a property appraisal is one of the last hurdles on the road toward a successful closing. Understanding the appraisal process and how it affects your home sale or purchase will help you through the waiting period as you prepare for and face...
Remodeling Your Home? The Smart Way to Finance Your Project with a Home Equity Loan.
If your home isn't meeting your needs well or is starting to look outdated, a home remodel can breathe new life into it. Yet the cost to remodel can be extensive. Where can you find the funds to cover this cost? One smart option is tapping the equity in your home....
Can Bi-weekly Mortgage Payments Save You Money?
Can Bi-weekly Mortgage Payments Save You Money? Outside of a low-interest rate, there are very few ways to save money on your mortgage. On a fixed-rate loan, the payments remain the same month to month, but there is a surprising tactic you can use to save even more....
Mortgage Down Payment Gift Rules
For home buyers struggling to come up with the money for a down payment, loving family members are often considerate enough to give them gifts to help. Gifts can help buyers come up with the big chunk of money they need to buy a home, but there are tax implications...
Mortgage Points – What are they and when should you buy them.
As you find a Lender and move closer to closing, one question you will need to answer is whether or not you plan to pay points on your mortgage. Before making this decision, you need to understand what points are and how they affect your mortgage and closing costs....
Should You Buy Your Parent’s Home?
When mom and dad are ready to downsize or move to a home with less maintenance, you may have the option to buy their home. Doing so can save quite a bit of hassle for both them and you, limiting the need to enter the home selling or buying market. It can also help you...
Do ARM 5/1 Loans Offer the Best Rates? The Ins and Outs of ARMs and How To Determine If They Are Right For You.
An adjustable-rate mortgage, or ARM as they are better known, is a mortgage type that allows the interest rate on the home loan to change. An ARM 5/1 is a type of ARM that locks in an interest rate for the first five years of the loan. After that locked-in period, the...