When shopping for a home, the first step should be to get a pre-approved mortgage. But don't be fooled, a pre-approval is not the same as a pre-qualification. A pre-approval is when your lender collects and verifies the information you've provided, whereas a pre-qualification is based on the information you've provided, but which has not been confirmed. When you have been truly pre-approved for your mortgage, you have provided your lender … [Read more...]
Top 10 Questions You Should Ask When Shopping for a Mortgage
In this ever changing economic environment, it is very important to be sure you are asking the right questions when shopping for a mortgage (whether it be for a purchase or a refinance): 10. Is the mortgage portable/assumable? - life changes, so the time may come when you need the flexibility to take your mortgage with you to a new property, or you may want to make your home more attractive to prospective buyers and offer to have them take … [Read more...]
