Finance Globe

While there is nothing more exciting than shopping for a home, your good time can turn sour if you’re unable to secure a mortgage for your purchase.If your mortgage application is denied, there are a few key steps you must take:•    Find out why: This is your top priority, as you can’t make things right until you find out what went wrong. The lender is supposed to provide the reason or reasons for your denial, so...

Once you decide to purchase a home, you’re faced with a variety of questions, tasks, and responsibilities. One of the most important steps is applying for a mortgage.While you hope that everything works out, there may be a major concern on your mind: a denial.There are things you can do to tilt the scales in your favor, such as saving up a down payment of at least 20 percent. Unfortunately, there is no guarantee that you’ll...

As you search for your dream home, you’ll soon find yourself facing a variety of important questions. While most your attention is focused on finding the right property, it won’t be long before you begin your search for the perfect mortgage.Many people turn to the service of a mortgage broker, as doing so is one of the best ways to secure a competitive rate from a reputable lender. Unfortunately, this process is easier said than done,...

For most people, buying a home means securing a mortgage. Even if you have an idea of the lender you want to use, it’s critical to shop your options to ensure yourself of getting the best deal.Generally speaking, there are two ways to search for a mortgage:•    Directly through multiple lenders•    Through a mortgage brokerThe primary benefit of a broker is the ability to compare rates from multiple lenders, without having to do much of the...

A home purchase is a huge decision. There is a lot to factor in, and it may end up being the biggest financial purchase you make in your life. Below are a few indications that would let you know you might be ready to buy a home.20% in Savings: Many people/websites have different opinions on this, but I recommend having at least 20% of your home purchase in savings you can use as a down payment....

Shopping for a home can be one of the most exciting times of your life. Unfortunately, if you receive one mortgage loan application denial after the next, this joy can soon turn to pain.With this in mind, it’s important to understand the most common reasons for a denial. This information can help you adjust your approach, thus increasing your chance of an approval in the future.Here are five common reasons for a mortgage loan application denial:•   ...

Buying a house is a huge financial decision. It may even be the biggest financial decision of your life. You may think you are ready to be a home owner, but you have to do your homework before making a purchase of this magnitude. Home buying can also be a very confusing and daunting task. Below are several tips to better help you understand the home buying process and find a home that's the perfect fit...

​If you are still paying off a fixed mortgage and haven't considered refinancing then you are losing out. Lenders have been offering new and greatly decreased rates for refinanced mortgages at any term. If you are only a couple years into your mortgage you may not believe that you can benefit as well, but the truth is that almost anybody can benefit from refinancing a mortgage in today's market. There is a reason that people have been doing...

Many people max out their housing budget, purchasing as much house as the bank will allow. There may be a benefit to buying a home that’s priced under what you can actually afford, even if it means buying a slightly smaller house than you initially intended.You’ll have a lower down payment.Mortgage down payments can be up to 20% of the home purchase price. Buying less house than you can afford means you don’t have to put...

Have you ever heard the old saying “don’t bite off more than you can chew?”In short, this means don’t take on more than you can comfortably handle. Unfortunately, many people make this mistake when buying a home.While your intentions are good, it’s easy to become so overwhelmed with the process that you end up overspending.If you’re concerned about going down this path, here are three steps you can take:•    Know your absolute maximum monthly payment. It’s...