Entries by Loan Processing

How Homeowners Build Generational Wealth

Homeownership can be a pathway to building generational wealth — in fact, owning a home is so closely linked to long-term stability that it’s been one of the few life goals that’s just as common today as it was 50 or even 100 years ago. But how does homeownership help families build wealth? What makes […]

When You Should (Not) Refinance

Refinancing is common practice for homeowners, and it’s often a smart financial move. It can lower your payment, reduce your interest rate and more. But when it’s not the right time to refinance, it can be an unnecessary effort or even result in extra costs. When should you think about refinancing, and when should you […]

What to Know About Property Liens

For both homebuyers and homeowners, understanding how property liens work is important. In fact, they could impact your ability to buy a specific house or make a home cost more. Fortunately, finding out if a property has a lien against it isn’t too hard — nor is settling a lien once one is in place. […]

Prequalification Versus Preapproval

When you start researching to buy a home, you’ll see the terms “mortgage prequalification” and “mortgage preapproval” thrown around a lot. While they sound similar, they aren’t the same — and they serve different purposes in your homebuying journey. Thinking of making an offer soon? Here’s what you need to know about prequalification versus preapproval […]

Mortgage demand rises 2.2% as interest rates decline slightly

Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most sensitive to weekly rate moves, rose 2% for the week but were still 86% lower than the same week one year […]

Fed officials see smaller rate hikes coming ‘soon,’ minutes show

Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple officials have made over the past several weeks, the meeting summary pointed to smaller rate hikes coming. Markets widely expect the rate-setting […]

Buyer Guide: Starter vs. Forever Homes

Is there a difference between the right house for your current situation versus your ideal home for life? There’s usually a big difference for most buyers, and it’s a good idea to consider both options carefully. When deciding between a starter and a forever home, there’s a lot to think about beyond your budget. This […]

Using Gift Money for Your Down Payment

Gift-giving season is upon us — and did you know that you can potentially use gift money to help cover your down payment? You most certainly can. However, there are some limitations and a few bases you’ll need to cover so your gift money is properly accounted for. Here are a few things to know: […]

How do construction loans work?

Building your home from the ground up can be extremely rewarding. You get to have a lot more control over your property’s design and construction, and starting from scratch can be an adventurous passion project. But how can you finance both the property purchase and construction? Do you need one loan for the land and […]