If you’re buying a home for sale in Lake City, you know that the better your credit score is, the more favorable interest rates lenders will be willing to offer you. But can you buy a home with bad credit? Buying a home with bad credit For most people, a poor credit history is a […]
Why You Should Try to Save Up 20 Percent to Buy a Home
When you’re buying a home for sale in Lake City, it’s in your best interest to put down as much money as possible – and if you can save up 20 percent or more, you’ll be in great shape. It’s not always easy to save up that large of a sum, but in the end, […]
What is PMI?
If you’re buying a home with less than 20 percent down, your lender will require you to buy private mortgage insurance. There’s only one exception to that rule: If you’re using a VA loan, you don’t need to buy private mortgage insurance, or PMI. What is PMI? PMI is a type of insurance that lenders […]
What Lenders Look at on Your Credit Report
When you apply for a mortgage loan to buy a home for sale in Lake City, your lender is going to check your credit score. Here’s what you need to know. What Lenders Look at on Your Credit Report Lenders look at your ability to repay other loans when they’re deciding whether to let you […]
Why You Should Shop for a Mortgage Loan
If you’re buying a home for sale in Lake City or any of the surrounding communities, you’ll most likely need a mortgage loan – most people do. And when you’re ready toi apply for one, it’s incredibly important that you shop around. Here’s why. Why You Should Shop for a Mortgage Loan There are hundreds […]
Shopping for Mortgages 101
When you’re buying land for sale in North Florida, you need to know that you can shop around for mortgages. But where do you start? Shopping for Mortgages 101 There are hundreds of mortgage programs through lenders on any given day, which means you definitely should shop around for the one that’s the best fit […]
What is DTI?
As you start shopping for homes or land for sale in North Florida, you’ll have to make sure your debt-to-income ratio, or DTI, is sufficient to get a loan – but what is DTI, and how do you know where yours stacks up? What is DTI? Your debt-to-income ratio is a measure lender use to […]
What is Preapproval?
When you’re buying land for sale in North Florida, you’ll want mortgage preapproval – and here’s why. What is Preapproval? Mortgage preapproval is a process you go through to find out whether a lender is willing to lend you money to buy property or a home based on your current financial situation. If you’re preapproved, […]
What Are Property Taxes?
When you’re buying land for sale in Columbia County, you’re most likely going to have to pay property taxes. But what are property taxes, and how will they affect your home ownership? What Are Property Taxes? Property taxes are taxes you have to pay based on the value of your land. The taxes on land […]
What is a Clouded Title?
When you’re buying land for sale in Columbia County, you’ll need to make sure the title is clear – and that’s what a title agency does for you. But what is a cloud on the title, and how does it affect your property ownership? What is a Clouded Title? A cloud on a title means […]