Home Buying | Military Home Loans

Home Buying

Tips & Tricks on purchasing your first home.

If you’re thinking about buying a home, you’ve probably crunched the numbers time and time again. Undoubtedly, you know a thing or two about the components of a mortgage payment, including the principal and interest you will pay. While it’s prudent to know about your monthly mortgage bill, there are other expenditures associated with homeownership that you’...
Buying a home is an action-filled task. The process will pull at your heartstrings, challenge your patience and, of course, impact your personal finances for many years to come. One of the keys is to minimize costs, but how? As a first-time homebuyer, you are learning about the process, which starts with getting a pre-approval. Like most home seekers, you...
Many young, single, career-focused, and financially savvy adults are realizing that buying a home is the right decision for their personal and financial goals. In fact, more than 90% of Americans believe homeownership is the first step on the road to wealth. And the U.S. government agrees. The Department of Housing and Urban Development promotes...
You finally own that home you always wanted and are benefiting from the financial perks, but with a new home comes monthly mortgage payments. You’re doing great learning to budget monthly expenses and keeping up with those payments on your largest investment - it’s not always easy to do! So why in the world would you want to pay an extra mortgage payment...
If you have been contemplating buying a house, we are here to help you think through the possibilities.   When to Buy a House - Factors to Consider There are several factors to consider before you decide it’s time to buy a house. Here are a few: Is it better to rent or buy? You’ll want to consider your long-term goals; whether you will stay in the...
Condominium properties can offer many benefits for first-time homeowners. They can often be more affordable and require less maintenance than traditional single-family homes. If you are considering buying a condo, make sure and ask these seven questions first.   1. Can the condo be warrantable? If you are looking to buy a condo, you’ll want to know if it...
Buying a home involves a lot of choices - locations, types of homes, types of loans, and more. As a first time homebuyer, you have the freedom to choose what type of home you want to purchase. One that might be a good fit is a condominium (condo). The condo market continues to increase and may expand the possible home options to choose from in your area....
Adjustable Rate Mortgage A dynamic loan option to power your goals. An Adjustable Rate Mortgage, or ARM, can be a powerful tool for homeowners. An ARM is a mortgage that offers a low introductory fixed rate term. After this period is over, the adjustable period follows for the remainder of the term. During this adjustment period the interest rates can...
Buying a home comes with an incredible amount of decisions to make, whether it’s deciding on a neighborhood, finding just the right house to fit your lifestyle or determining what loan program works with your financial goals. Once you’ve narrowed down a specific mortgage program, you will have one final decision to make: is a fixed rate or adjustable rate...
Buying a home is a transaction with a lot of moving pieces. Both the buyer and seller have power to control some aspects, but a bump in the road can appear when you least expect. Typically, a home purchase has a close of escrow date written into the contract ranging anywhere from 18 to 30 days. The buyer should be prepared to  respond to documentation and...
Run across a loan term you haven’t seen before? Are you “almost sure” what that term your mortgage banker used means … but not entirely? Our mortgage glossary will help you to speak to mortgage professionals with confidence. Acceleration Clause Provision in a mortgage that allows the lender to demand payment of the entire principal balance if a monthly...
So, here you are. You decided to take a dive into homeownership. First of all, we want to say, congratulations. We know that being a homeowner will give you a sense of pride and security, both to you and your family. Like they say, there's truly no place like home. But like any complicated endeavor, first-time home buyers should evaluate where they stand...
As you make your monthly mortgage payments, you might be wondering if there are ways to pay off your loan faster under your existing loan terms. For example, you may have considered making biweekly payments rather than monthly payments. Let’s take a look and see if this is an option and how it might work.   Biweekly Mortgage Payments Explained A biweekly...
You’re getting ready to purchase that home you found in the perfect neighborhood. But what happens between the time your offer gets approved and the keys are handed to you? If you have never purchased a home, the home loan closing process may seem like a bit of a mystery and an overwhelming number of steps to complete. We’re here to walk you through the...
You’ve finally taken the plunge and are ready to buy a home. You even have a meeting set up to meet with a loan officers to start discussing the process and see what loan program you might qualify for. We want to help prepare you for that meeting so you can leave with the most information and knowledge possible. Loan officers are experts in their industry...