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Getting pre-approved should always be your first step.

One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. In many markets across the country the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace […]
Matt Morano
56
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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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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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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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2018rates

Where are mortgage rates headed in 2018?

Heading higher… According to Freddie Mac’s U.S. Housing Marketing Outlook, interest rates are expected to slowly but surely head higher in 2018.  What does this mean for you if you are considering buying a new home? Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest […]
Matt Morano
37
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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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