Mortgage

What is conditional approval and why do you need it

For most people homeownership in an important step on life’s desired milestones. It therefore comes as no surprise that when you attain this achievement you are full of pride and a great sense of accomplishment. So, after you find the right house, what happens next? One of the most critical steps in the home purchase process is to receive financing for your dream of home ownership. As such receiving...

How to deal with a mortgage after death

The inescapable truth is that death is a part of the human lifecycle. Moreover, death comes in many forms and at times death occurs when we least expect it. Death affects us in one way or the other and it is particularly more difficult to comprehend when it is the death of a loved one. The aftermath of losing a loved can be equally complex and extremely confusing. One of the things that you will have to...

The 4-point checklist for first-time homebuyers

Are you commencing your real estate journey for the very first time? First-time homebuyers generally find the home buying experience daunting, complex and confusing. However, being adequately prepared will hell you make informed decisions during the buying process. Moreover, being prepared will give you a competitive edge against other home buyers vying for the same property as you. as such, carrying out...

Common home loan refinance mistakes to avoid

Are you considering refinancing your home loan? But what exactly does it mean to refinance your home loan? To put it simply, a home loan refinance is when you trade in your current interest rate for a new on. This is primarily achieved by obtaining a new mortgage to replace the original. That is to say, home loan refinancing allows you to obtain a better interest term and rate. Carrying out sufficient...

What to look for in a mortgage lender

What to look for in a mortgage lender

Are you on the hunt for a mortgage lender? Finding the best mortgage lender in your area will require significant legwork, close scrutiny, and careful consideration. There are so many banks, financial institutions, as well as independent mortgage lenders on the market. As such, the decision on which mortgage lender to go with requires deep assessment and well-thought calculation. Here is a guide on what to...

Tips for securing a mortgage

Preparation is key to any successful process, and securing a home loan is no exception. When you are attempting to acquire a home loan, there are a few things you should do in advance. The successful execution of these things will ensure the home loan process goes smoother. We all need help during this process, so here are a few tips for securing a mortgage. Savings To start with, quite a few mortgage...

Understanding lenders mortgage insurance

Lenders Mortgage Insurance (LMI) is a type of insurance cover. This insurance provides lenders and investors with cover against mortgage loan default. LMI is charged to borrowers whose deposit of the property purchase price falls below a designated amount. This insurance cover is essential to mitigate the risk of mortgage loans to borrowers with small deposits. Therefore LMI constitutes an extra cost in...

Memorandum Of Sale

Memorandum Of Sale

Memorandum Of Sale Most people are unfamiliar with the term Memorandum Of Sale or fully appreciate it's importance. This is however; a term you will encounter when buying or selling a house. There exist specific instances where in most likelihood you will be required to obtain a memorandum of sale. These include: If you’re a prospective buyer wanting to submit a mortgage application....

Expert Qualities That Make A Good Real Estate Agent

Expert Qualities That Make A Good Real Estate Agent The real estate space has many different players contributing in a vast array of ways. This is inclusive of appraisers, home inspectors, property managers, contractors, bankers, mortgage loan officers, and government agencies. At the forefront of your typical real estate transactions are the people that coordinate the process - the real estate agents and...

Buying Your First Home

Buying Your First Home When do you really think about buying your first home? Do you think about buying your first home straight out of university, or the moment it suddenly dawns on you that the landlord is using your money to pay for his mortgage payment. Too often people rush into home ownership as it is viewed as a sign of financial responsibility and adulthood. However, owning a home is a huge...

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