user | Online Lender Search Blog

Financing Help for First Time Homebuyers in 2023

March 29, 2023

Ready to Buy Your First Home in 2023? Read These Mortgage Tips Now

For so many first-time homebuyers, saving up enough money to make a down payment on a home can take years. But as much of a challenge as it is, it is certainly worth it because putting at least 20 percent down on a home can help a first-time buyer secure a lower interest rate and avoid having private mortgage insurance (PMI) included in their monthly mortgage payment. That said, not every first-time buyer can save money when they have so many other financial obligations to satisfy. Luckily, help is available.

If you’re in the market for your first home but you’re having difficulty saving money for a down payment, then this doesn’t mean that you are going to be out of luck. Financing help is available from a variety of resources that can help you achieve your dream of owning a home in 2023. This guide will help get you started. more “Financing Help for First Time Homebuyers in 2023” …

The Best (and Worst) Reasons Why to Refinance Your Home Mortgage

March 14, 2023

Here’s When to Refinance Your Home… and When to Avoid It

Mortgage interest rates are a little better than they were a year ago, but they remain higher than they’ve been in two decades. Still, there are many homeowners out there who might find the prospect of refinancing their mortgages appealing for a number of different reasons. After all, there are a lot of mortgage loans out there with interest rates that are even higher what’s currently available, so these homeowners can potentially save money by refinancing.

But of course, before you choose to refinance your mortgage, it is important to assess your situation and consider your reasons for wanting to refinance because some reasons are simply better than others. And some reasons can even be detrimental.

Here are the best and worst reasons to refinance your home mortgage. more “The Best (and Worst) Reasons Why to Refinance Your Home Mortgage” …

How to Prepare for the Best First-Time Mortgage: Getting Approved With Ease

February 28, 2023

How to Get Approved for Your First Home Mortgage

Purchasing a first home is one of life’s most memorable experiences. But depending on a range of variables, that memorable experience can be either a positive one or a negative one. Luckily, there are some things you can do to help make getting approved for your mortgage a lot easier, and one of the most important is being prepared.

The home buying process is complex because there are so many moving parts involved. So, the better prepared you are, the quicker and more efficiently the process will go. You can still expect it to take anywhere from 30 to 60 days before you can close on your home, but if you are well prepared and you’re a qualified buyer, then you can have as short a waiting period as possible.

Here’s everything you need to know about getting prepared for your first mortgage application. more “How to Prepare for the Best First-Time Mortgage: Getting Approved With Ease” …

5 Things to Consider When Shopping for Your First (and Best) Mortgage in 2023

January 25, 2023

What You Need to Know About Landing Your First Mortgage

If your dream of buying your first home was put on pause in 2022 due to interest rates rising so dramatically, low inventory, and other real estate problems, then 2023 may prove to be more accommodating.

While no one can accurately predict when interest rates are going to fall or when inventory will increase, most experts agree that things will improve at some point this year. So, if you want to get into a new home this year, then there is no time to waste getting prepared.

Here are five things to consider when shopping for your first mortgage in 2023. more “5 Things to Consider When Shopping for Your First (and Best) Mortgage in 2023 “ …

Here’s What You Need to Know About Refinancing a Mortgage in 2023

January 4, 2023

Ready to Try Refinancing Your Mortgage This Year?

A good number of homeowners wanting to refinance their mortgages in 2022 found themselves sidelined from making their refi decision because interest rates rose much quicker than anyone expected last year. But now that 2022 is in the rear-view mirror, will 2023 hold more promise for those looking to save money on their monthly mortgage payments?

Here’s what you need to know about refinancing a mortgage in 2023. more “Here’s What You Need to Know About Refinancing a Mortgage in 2023 “ …

Ten Things You Should Watch Out for When You Want Your Home Mortgage Refinance to Go Smoothly

December 21, 2022

Ensuring Every Home Mortgage Refinance Goes According to Plan

Refinancing your home mortgage can be a great way to save money on your monthly loan payment or provide you with the cash you need to complete a home improvement project. But it would be a lie to say that every refinance goes smoothly.

When you refinance your home loan, there are a lot of moving parts, and your lender will place you under the same scrutiny as when you applied for your original loan. If anything is out of place or missing, your application can be denied.

If you want to refinance to take advantage of the low interest rates before they rise any higher, then here are ten things you are going to want to watch out for, so your mortgage refinance can go smoothly. more “Ten Things You Should Watch Out for When You Want Your Home Mortgage Refinance to Go Smoothly” …

5 Reasons Why Refinancing Your Mortgage May Be Wrong for You

December 7, 2022

5 Reasons Why Refinancing Your Mortgage May Be Wrong for You

With interest rates rising in 2022 after years of record lows, a lot of homeowners who have been weighing whether to refinance their mortgages are suddenly feeling the pressure to either do it or wait for the rates to (hopefully) fall back down.

While refinancing now might seem like a good idea, the reality is that it might not be the best idea for every homeowner. In fact, refinancing at the wrong time can be a costly mistake that you’ll regret making.

If you’re thinking about refinancing, then here are five reasons why holding off might be the right move. more “5 Reasons Why Refinancing Your Mortgage May Be Wrong for You “ …

How Does a Cash-Out Refinance Work?

November 16, 2022

Is a Cash-Out Refinance the Right Mortgage Product for You?

Need extra money? Have at least 20% equity in your home? If you answered yes to these two questions, then you’re probably considering a cash-out refinance. But do you know how a cash-out refinance works?

Before you start applying for a cash-out refinance, you should learn all there is about it, so you can make the best decision for your current and future financial goals. Here’s everything you need to know about cash-out refinances, including how they work, their requirements, and more. more “How Does a Cash-Out Refinance Work?” …

Are There Reasons Why Refinancing Your Mortgage Is a Bad Idea?

November 2, 2022

Is Refinancing a Mortgage Always the Right Idea?

After several years of historically low interest rates, 2022 saw the rates change direction. As you might expect, this sudden shift has more homeowners than ever wondering if now is the best time to refinance, or if the smarter move is to wait to see if the coming months bring a return to rates lower than six percent.

If you are thinking about refinancing, there are certain things you need to consider to help ensure that your refinance delivers the results you’re looking to achieve. Two of the most common things you need to think about are where your interest rate currently stands and how long you are planning on staying in the home after you refinance.

But perhaps even more importantly is the reason why you are refinancing. This is something that is often overlooked, but the truth is – not every reason is an ideal reason for refinancing a mortgage. Here are three of the most common “bad reasons” for refinancing. more “Are There Reasons Why Refinancing Your Mortgage Is a Bad Idea?” …

What’s the Best Way to Find a Mortgage Lender—Referral, Bank, Broker, or Otherwise?

October 19, 2022

How Will I Ever Find My Mortgage Lender?!

When you’re buying a new home, you might be surprised by how many people are involved in the process. From your real estate agent to the home inspector to the title company, there are many people who you are going to have to be putting your trust in to ensure that you get the home you want.

But as many people as you’ll have to work with, none are as important as your mortgage lender. After all, your lender is the one responsible for matching you with the best mortgage loan for your unique situation and for ensuring that you get the best rate possible. Remember, who you choose as your mortgage lender will impact your path to homeownership and your overall experience with that person will come rushing back at you with every monthly payment you make, so you want to choose wisely.

So, because of the important role your lender plays, you might be wondering – what’s the best way to find a mortgage lender? This guide will go over your options. more “What’s the Best Way to Find a Mortgage Lender—Referral, Bank, Broker, or Otherwise?” …