Home Sweet Loans

  Your mortgage isn’t a ‘sure thing’ until you sign the closing papers. Until that point, anything can happen, which is why it’s so important to keep your financial and employment situation status quo. If you’re thinking about buying a home or are in the middle of the process, here are five things that could make you lose your loan approval.   Changing Jobs When lenders approve you for a mortgage, they do so based on your employment and income. They assume your employment will remain the same, even though we all know that’s not always the case. While changing jobs after you close on your loan isn’t a big deal, changing jobs mid-loan process could cause a delay in processing or even cause you to lose your loan approval.   Hurting your Credit Score Lenders pull your credit when you apply for a mortgage and again before you close. If your score changes drastically during that time (for the worse), you could lose your loan approval. Once pre-approved, try ke...

Buying a home requires more than finding the perfect home. First, you need financing, or you won’t be able to buy the home. Lenders have specific requirements when considering buying a home, so knowing what questions you should ask them is important.   How Much do I Need for a Down Payment? Your down payment depends on the loan program you choose. For example, VA loans don’t require a down payment, but FHA loans require 3.5% down. Conventional loans require 5% down in most cases, and if you put down less than 20%, you’ll pay Private Mortgage Insurance. Discuss your down payment options and how much you should put down to get the best rate and terms on your loan.   What’s the Best Interest Rate I can Get? Interest rates are much higher this year than last, so you should talk to your lender about how you can lower your rates. They’ll look at your qualifying factors and tell you what you can improve to ensure you get a lower rate. You can also ask about the possibility of buying ...

Hey there, fellow real estate navigators! Let's dive into something that's been making waves in our market lately – interest rates. Picture this: you're on the lookout for a treasure island of opportunities for your clients, and those interest rate currents are a big part of the journey. So, grab your compass and let's explore what's up with interest rates in today's sea of possibilities. Setting the Scene You know how life is – always a bit unpredictable. Well, the same goes for interest rates, but guess what? Lately, they've been pretty chill. Like that reliable friend who always shows up to your beach bonfire with s'mores supplies. The Scoop on Current Rates So, here's the scoop: Interest rates are keeping their cool vibes. No sudden spikes, no roller coaster rides. It's like they've found a comfy spot on a hammock and decided to stay put. This stability is your ally as you help your clients navigate the waters of homeownership. Why It Mat...

Hey there, future homeowner! Let's dive into the ultimate battle of the bucks: Renting vs. Owning a Home. We'll break down the financial side of things, so you can make a smart move without the boring finance jargon. Let's get started! Upfront Costs - The Money You Splash at the Start Renting: Renting means you won't need to cough up a massive amount upfront. Just your security deposit, first and last month's rent, and some application fees are all you need. It's like a low-commitment relationship - you're not locked in for the long haul. Owning: Alright, homeownership is a bigger financial leap. You'll need a down payment (a minimum of 3% of the house's price), and don't forget those closing costs, which include appraisal fees and other legal stuff. It might feel like a heavy load, but owning a piece of real estate can pay off down the road. Monthly Expenses - The Cash Leak That Never Stops Renting: When you rent, your monthly expenses are prett...

  🏠 Welcome to "Home Sweet Loans": Where Mortgages and Family Dreams Collide! Hey there, lovely readers! 👋 I'm Jenny, your friendly neighborhood supermom, mortgage broker, and retired military wife. With two adorable kiddos, aged 5 and 7, life is a whirlwind of laughter, love, and of course, home loans! In this delightful little corner of the internet, I'll be dishing out the juiciest tips, tricks, and insider secrets to help you navigate the complex world of mortgages, all while juggling the joys and challenges of family life. From decoding the cryptic language of interest rates to revealing the hidden gems in the real estate market 🌟, "Home Sweet Loans" is your one-stop-shop for all things mortgage-related. I'll be your mortgage fairy godmother, waving my wand of wisdom to help you find that perfect loan fit for your dream castle! 🧚‍♀️🏰 But wait, there's more! As a retired military wife, I've embarked on many adventures, turning every hou...