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moneypicture

Whether you rent or buy, either way you are paying a mortgage.

Rent is like a mortgage. There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in […]
Matt Morano
24
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pmi

What is Private Mortgage Insurance (PMI)?

What is PMI? Freddie Mac defines PMI as:  that is required for all conforming, conventional loans that have down payments less than 20%. Once you’ve built equity of 20% in your home, you can cancel it and remove that expense from your mortgage payment.” As the borrower, you pay the monthly premiums for the insurance policy, and […]
Matt Morano
40
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What is radon and why should I care?

What is radon and why should I care?  Radon is the by-product of decaying uranium in the soil.  It’s the second leading cause of lung cancer in the United States, and it’s the number one cause of lung cancer in non-smokers.  How Does Radon Enter The House? Radon gas rises through the crevices, cracks and porous materials […]
Matt Morano
67
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REWords

Before You Start Visiting Homes With Your Agent:

BEFORE YOU START VISITING HOMES WITH YOUR AGENT GET A PRE-QUALIFICATION LETTER FROM A LENDER This is the first step in the mortgage process. A mortgage pre-qualification is an estimate of your borrowing power. You’ll supply an overview of your financial history to the lender. It relies on your verbal information only. It usually doesn’t […]
Matt Morano
54
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rates rising

Mortgage rates on the rise so far this year.

But that’s not necessarily bad news. Mortgage rates are on the rise so far this year. But that’s not a bad sign! In a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate. As seen in the graphic, home prices APPRECIATED […]
Matt Morano
16
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Mortgage-Process-KCM

The mortgage process.

What you need to know. Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.  
Matt Morano
26
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