Considering the large sums of money associated with buying a house and how large a monthly mortgage payment is in relation to household finances, it’s understandable that most home shoppers get number fatigue when shopping for home loans. But if you’re in the market for a mortgage, you should consider whether or not a mortgage rate buydown might make sense for you.
An appraisal report can be tricky to read thanks to a lot of financial and inspection jargon. Here’s a breakdown of 26 appraisal terms that will come in handy when you’re buying a home and trying to make sense of your appraisal report.
Can an appraiser make a report on the value of an unfinished home? In short, yes. To do so, there are two different routes the appraiser can take: determine an “as-is,” or a “subject to,” appraisal value. Read on to find out more!
Assets are items that you own that have value. Among other things, assets can include savings accounts, stocks, jewelry and other property. When an asset is “liquid,” it has cash value, or can be easily converted to cash.
When we talk about abstracts in the title insurance world, we aren’t referencing an unusual piece of art but rather a very important report. An abstract tells the title insurers exactly what they need to know about the property’s history in order to prepare a title commitment. Read on to find out more!
When you’re on the go, paying bills should be easy. That’s why we made sure MyQL was mobile friendly. You can even make your mortgage payment and view loan documents while getting an oil change or waiting in line at the grocery store!
One of the most common financial rules of thumb is the “30% rule” for buying a home. Like many financial rules of thumb, though, the 30% rule is best taken with a grain of salt. In fact, rather than getting hung up on this rule of thumb, it makes more sense to examine your financial situation, and your individual needs, and get a mortgage that fits your circumstances.
Everyone needs to manage debt, save money and plan for the future. Without an understanding of common financial terms, you can’t do any of that, regardless of what year you were born. Get started with our glossary of common financial terms!
If you’re wondering what that phrase after your name on a deed or title is, then this is the right blog for you! When title companies determine how you will hold title they will look at your “vesting” deed, which is your most recent deed. Determining how to hold title depends on an individual’s current situation, and how that person wants to pass ownership in the event of death, divorce or sale of their real estate.
Private mortgage insurance, or PMI, gets a bad rap. I mean, no one likes to spend extra money if they can avoid it, right? But what happens if you can’t avoid it? What if you’ve found the house of your dreams but don’t have 20% saved for a down payment? Let’s explore the ways that PMI can help get you into your perfect home.