Many clients get confused about what a pre-approval is and what a rate hold is. Typically a pre-approval is a full evaluation of your entire situation and a bit of a garuntee that you can afford the home you are attempting to purchase. In contrast a rate hold is a promise from a lender to give you a specified interest rate offer should you purchase in the next 120 or 90 days (depending on the lender). Pre-Approval A pre-approval is basically an underwriting of all your do

We can offer 3 different options to offer you to finance a home renovation. 1. Purchase Plus Improvements When you purchase a home the lender will loan you the extra money to fund a renovation that improves the value of your home. The lender will require quotes and often a second appraisal to confirm that the renovations will improve the equity in the home. The extra money will come out of your mortgage and be held in trust until the renovation is completed. Then it will

Do you have the lender pay your property tax on your behalf while they are paying your mortgage? I know that this is way easier to have one less bill the think about arriving in the mail each month but have you ever considered if this is in your best interest? Truly, convience is the only benefit to having the lender to this for you. Here are a couple down sides that you need to be aware of: Build up of reserve in Tax Account Your mortgage lender is not in the business of