12 Jul 2023
By 24hr Mortgage

How Long Does It Take to Get a Mortgage Approval?

Mortgage, ,
When you're in the process of buying a home, one of the most important steps is obtaining a mortgage approval. This approval signifies that a lender is willing to offer you a loan to finance your dream home. The timeline for getting a mortgage approval can vary depending on several factors. Initial Preparations: Before you start the mortgage approval process, it's crucial to gather all the necessary documentation. This typically includes proof of income, employment history, bank statements, tax returns, and details about your assets and liabilities. Application Submission: Once you have your documents ready, you'll need to submit a…
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06 Jul 2023
By 24hr Mortgage

How To Beat High Inflation with a Home Purchase

Mortgage, ,
Inflation can erode the value of your savings over time, and one way to hedge against inflation is by investing in assets that appreciate in value over time. Real estate is often considered a good hedge against inflation, as property values tend to rise in line with inflation. Here are some ways a home purchase can help beat high inflation: Lock in a low-interest rate mortgage: High inflation often leads to higher interest rates, but if you lock in a low-interest rate mortgage when inflation is low, you can benefit from lower mortgage payments even if interest rates rise in…
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06 Jul 2023
By 24hr Mortgage

How To Beat High Inflation with a Home Purchase

Mortgage, ,
Inflation can erode the value of your savings over time, and one way to hedge against inflation is by investing in assets that appreciate in value over time. Real estate is often considered a good hedge against inflation, as property values tend to rise in line with inflation. Here are some ways a home purchase can help beat high inflation: Lock in a low-interest rate mortgage: High inflation often leads to higher interest rates, but if you lock in a low-interest rate mortgage when inflation is low, you can benefit from lower mortgage payments even if interest rates rise in…
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27 Jun 2023
By 24hr Mortgage

Most Common Questions First-Time Home-Buyers Ask

Mortgage,
Buying your first home is an exciting milestone in life, but it can also be overwhelming and filled with questions. As a first-time home buyer, you want to make informed decisions and ensure a smooth process. Below we will address some of the common questions that first-time home buyers often ask. 1. What Exactly Is a Mortgage? A mortgage is an agreement between you and a lender that allows you to borrow money to purchase or refinance a home and gives the lender the right to take your property if you fail to repay the money you've borrowed. 2. What…
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23 Jun 2023
By 24hr Mortgage

How to Calculate Mortgage Payments

Mortgage,
Calculating mortgage payments involves several variables, including the loan amount, the interest rate, and the loan term. Here are the steps to calculate mortgage payments: Determine the loan amount: This is the amount you will borrow to purchase the property. For example, if you plan to buy a house for $300,000 and you plan to put down a 20% down payment ($60,000), your loan amount will be $240,000. Determine the interest rate: The interest rate is the cost of borrowing the money. It is expressed as a percentage. For example, if the interest rate is 4%, you will pay 4%…
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16 Jun 2023
By 24hr Mortgage

How Do You Make A Household Budget

Mortgage, ,
Creating a household budget can be a helpful way to track your spending and ensure you are meeting your financial goals. You will need to examine your fixed expenses that are the same each month, such as rent or car payments and your variable expenses that change each month, such as groceries or entertainment.  Dealing with debt can be challenging but incorporating it into your budgeting strategy can help you regain control of your finances. Here are some steps you can take to effectively manage your debt while budgeting: Assess your debt: Begin by gathering all your debt information, including…
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