It’s hard to believe in an era where you can get a mortgage with no money down, but some people still cling to old-school myths about building credit. Here are five of the most common myths, and why you should ignore them if you’re trying to buy a home in Jasper. 5 Myths About Building […]
5 Common Mortgages, Explained
When you’re buying a home, it’s important to understand the different types of mortgages available to you. Here we’ll break down five of the most common types of mortgage loans. Keep in mind that each type has its own benefits and drawbacks, so be sure to do your research before deciding on a mortgage. 5 […]
What Are Discount Points on a Mortgage?
Mortgage interest rates are at all-time lows, but that doesn’t mean you should just jump on the first rate you’re offered. One way to get a lower interest rate is to pay discount points. But what are they, and are they worth it? This guide explains what discount points are, how they work, and whether […]
What Are the Differences Between ARMs and Fixed-Rate Mortgages?
If you’re like most people buying a home for sale in Jasper, Huntingburg, Evansville or another Indiana community, you know you have a lot of options when it comes to mortgage products – and among them are fixed-rate mortgages and adjustable-rate mortgages, or ARMs. So what are the differences between ARMs and fixed-rate mortgages, and […]
What Questions Should You Ask a Lender When You’re Mortgage-Shopping?
Private Mortgage Insurance, Explained
When you purchase a home, you are required to get homeowner’s insurance as a condition of getting a mortgage. This insurance provides you with financial compensation if your home is damaged or destroyed. You may also need to have private mortgage insurance under certain circumstances. PMI protects your lender if you end up in a […]
What is a Rate Lock on a Mortgage?
Paying Off All Bad Debt Might Not Help You Get Into A Home Faster
Many people believe that if they take care of old debt issues, they will have a better chance at getting approved for a mortgage faster. It’s important to be aware that this isn’t always the case. Indiana has a six year statute of limitations on for filing lawsuits for old debt. Consider this scenario: You […]