19 Dec 2024
By 24hr Mortgage

What If My Mortgage Pre-Approval Expires?

Home Mortgage Tips, ,
A mortgage pre-approval is one of the most valuable tools in your homebuying journey. It's not just a letter stating how much you're qualified to borrow; it’s a written commitment from your lender that assures sellers you have the financial backing to make a competitive offer. Having a pre-approval letter in hand can give you a significant advantage in a competitive housing market, signaling to sellers that you’re serious, financially prepared, and ready to move forward. However, like many things in life, pre-approval letters have an expiration date. If you don't find your dream home before that date passes, you…
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29 Nov 2024
By 24hr Mortgage

What You Can Do Now to Prepare for Mortgage Rate Drops

Mortgage Rates, ,
As we move into the last month of 2024, many potential homebuyers are eagerly awaiting a drop in mortgage rates. With inflation numbers looking promising, there's hope that the Federal Reserve will lower the federal funds rate, which typically drives mortgage rates down as well. If you're planning to buy a home or refinance when rates drop, now is the perfect time to start preparing. Here are five key steps to get ready for the mortgage rate decrease and ensure you’re in the best possible position: 1. Improve Your Credit ScoreYour credit score is one of the most important factors…
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20 Nov 2024
By 24hr Mortgage

Top 5 Mortgage Types for Homebuyers

Home Mortgage Tips, ,
When you're preparing to buy a home, choosing the right mortgage is one of the most important decisions you’ll make. With so many options available, it can be challenging to know which type best suits your needs. Each mortgage type comes with unique advantages and understanding them can help you achieve your homeownership goals in a financially sustainable way. Below, we outlined the five of the most common mortgage types and how they differ. 1. Conventional Fixed-Rate MortgageOne of the most popular options for homebuyers, the conventional fixed-rate mortgage offers consistency and predictability. With this loan, the interest rate remains…
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30 Oct 2024
By 24hr Mortgage

Effective But Creative Ways to Save Money for a Down Payment

Mortgage Tips, ,
Saving for a down payment can feel overwhelming, but with some creative strategies, you can make it happen faster than you think. Whether you’re a first-time homebuyer or looking to upgrade, these tips can help you reach your goal and set you on the path to homeownership. 1. Automate Your Savings One of the simplest and most effective ways to save is by automating your savings. Set up an automatic transfer from your checking account to a separate savings account specifically designated for your down payment. Treat this transfer like a monthly bill—set it for a day shortly after you…
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28 Aug 2024
By 24hr Mortgage

Preparing Your Finances for a Home Loan Application

Home Building Tips, ,
Embarking on the journey to homeownership is an exciting milestone, but it requires careful financial preparation. Ensuring that your finances are in optimal shape is crucial to securing a home loan with favorable terms. This guide will walk you through the essential steps to get your financial profile in top shape before applying for a mortgage. Assess Your Credit Score and Report The foundation of a strong financial profile begins with a thorough examination of your credit score and report. Start by obtaining your credit reports from the major credit bureaus and reviewing them for accuracy. If you spot any…
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14 May 2021
By 24hr Mortgage

Avoiding Home Buyer Remorse: 5 Tips for a Happier Homeowner

Home Buyer Tips, ,
The rush of excitement that comes with finding the home you've been looking for is ideal, but just because it seems like the perfect place, doesn't mean there aren't other factors to consider. Instead of getting hit with buyer's remorse, here are some tips so that your home purchase doesn't become something you'll regret. Forget About The Competition If you're contemplating a house and happen to be dragged into a bidding war, it's important to take a step back and determine if it's really the right home for you. It can be easy to get carried away and up your…
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