What to Know Before You Buy
Make sure you know the pertinent questions to ask prior to searching for a home loan. We can help at MAK Financial! […]
Category: Preparing for a Purchase
What Is Title Insurance?
One of the many costs associated with closing your loan is title insurance. In short, a title insurance policy insures against loss resulting from title defects, both known and unknown, at the time of the sale or refinance of the subject property. Title defects can include a multitude of problems, but some common examples include: Read more about What Is Title Insurance?[…]
How to Establish Credit
It’s the ultimate catch 22 — you can’t get credit without credit history, but you can’t get credit history without credit! What’s a consumer to do?
If you ever plan on borrowing money in your lifetime, you’ll need to establish good credit. It takes several years to establish good credit, and 10 or more years to establish excellent credit. A good credit score also ensure you will receive the lowest interest rate possible on any loan. So here’s the skinny on how to get started. […]
Before You Buy or Refi…
Putting yourself in the best financial position possible will pay off when applying for a mortgage. Before you look for your dream home, you’ll need to have a strategy in place. Your mortgage broker can help put your financial ducks in a row, thus allowing you to get the best possible deal on a new Read more about Before You Buy or Refi…[…]
Smart Ways to Save for a Down Payment
Lenders usually require anywhere from 3.5% to 20% down payment when you purchase a home. It’s not easy to save, but here are some smart strategies to help you reach your goal. […]
Down Payment: Is Bigger Better?
Many experts advise home buyers to save enough for a 20% down payment, but there are financing options for those who save less. Although there are advantages to putting more down, don’t let a modest down payment exclude you from the market totally. Here are some financing options for those who have less to put Read more about Down Payment: Is Bigger Better?[…]
Is a Large Down Payment Necessary?
For most people, a home is the largest purchase they will make in their lifetimes. While many experts advise buyers to save enough for a 20% down payment, there are financing options available for buyers who have saved less. In fact, the average down payment in the U.S. is 16% (Source: Lending Tree, June 2013). Although Read more about Is a Large Down Payment Necessary?[…]
Buying Your First Home
There’s no place like home. Even better, there’s no place like a home you own. Not only is it an investment, but a means of self-expression and a way to establish roots. However, home ownership involves much more than getting a loan and making a monthly payment. From a financial perspective, home equity is usually Read more about Buying Your First Home[…]
