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Tips on Managing your Money for a Down Payment
We understand that saving money is simple in concept, but hard in practice. That’s why so many people struggle to do it and it ranks among the top obstacles to homeownership. But with a careful approach and a critical eye on your own financial habits, you can make...
You’ve Got Four Stars on your Homeownership Snapshot! Now What?
Congratulations on achieving four start on your Homeownership Snapshot! You’ve reached a major milestone that indicates that you’re ready for the next step. You’ve got your financial ducks-in-a-row when it comes to your homeownership-related finances, savings are...
Make Saving for Your Down Payment a Team Game
If you’re planning to buy a home in the next few years, you might be thinking about saving for a down payment. That’s great! It can be a challenging process, but it’s also an exciting time — even more so when you aren’t going it alone and tackle it with a team...
Four Savvy Strategies for Saving Money on Your Home Purchase (Despite High Interest Rates)
When it comes to buying a home, we often fixate on the interest rates, believing they are the only meaningful factor in determining how much we can save. While interest rates do play a significant role, there are other key strategies you can employ to put thousands...
How to Lower Your Mortgage Payment
Owning a home is a significant milestone. One of the most important considerations is finding a mortgage payment that works with your financial situation. With some advance planning, you can enjoy the lowest monthly mortgage payment possible without sacrificing...
5 Impactful Ways to Overcome Financial Stress
Financial stress is one of the biggest causes of poor sleep, anxiety and depression. If that sounds like you, you're not alone. According to a 2023 PwC Employee Financial Wellness survey, 60% of full-time employees are stressed about their finances. Even among...
7 Ways to Boost Your Financial Literacy
Having financial literacy is an essential life skill that can have far-reaching impacts on one's future financial security and well-being. Financial literacy is the ability to understand and effectively manage various financial skills, such as budgeting, saving,...
6 Ways to Improve Your Credit Score to Qualify for a Mortgage
Your credit score is a crucial factor when applying for a mortgage. A low score can lead to loan denial, while a high score opens doors to better interest rates and loan terms. Unfortunately, data shows that due to poor credit, 15% of mortgage applications for new...
8 Strategies to Establish and Build Your Credit History
Having little to no credit history is a major roadblock to getting approved for a loan. Lenders want to see a proven track record of responsible debt management before financing a major purchase like a car or home. If you're a recent graduate, early in your career...
How to Sell a House with a Mortgage
Summary · Selling a house with a mortgage is easy to do, provided there's enough equity to cover the loan at closing.· Negative equity situations may require lender approval for a short sale or personal funds to cover the shortfall.· Key steps include obtaining a...
How to Avoid 3 Common Mortgage Qualifying Surprises
Summary - jump ahead to any section by clicking on these links: 1. Document Overtime, Bonus, Second Job & Commission Income 2. Season and Source Funds to Close 3. Previous Mortgage included in Bankruptcy Tips for Avoiding Surprises during the Home Buying...
Understanding Mortgage Origination Fees
There's more to purchasing your first home than saving a down payment. Many fees are associated with the mortgage application process, commonly bundled under the term "Closing Costs." Among these fees is the mortgage origination fee. What is a Mortgage Origination...
How to Buy a Home in a Competitive Real Estate Market
Despite higher interest rates, the current real estate market has a surplus of buyers, and even more are sitting on the fence waiting for interest rates to drop into the 5% range. To secure victory in this competitive real estate market, prospective buyers need a...