What Happens When a Title Search Uncovers a Problem?

What Happens When a Title Search Uncovers a Problem?

One of the important steps in the home-buying process is to have a title search conducted. The title is the legal ownership record of a property and it's important to make sure there are no prior claims, also known as liens, on the house that might cause

Apr 27, 2023 | Purchasing a Home

What Is a Convertible Adjustable-Rate Mortgage?

What Is a Convertible Adjustable-Rate Mortgage?

If you are in the market for a home loan, an adjustable-rate mortgage may be very attractive in today’s higher rate climate. If you’ve looked into ARM loans, you may also have come across the term “convertible ARM.” If you’re unfamiliar with this product,

Apr 25, 2023 | Purchasing a Home

What is an Assumable Mortgage?

What is an Assumable Mortgage?

There are many ways to structure a loan for buying a home. One lesser-known way is with an assumable mortgage. Here’s what that means and how it works: What is an Assumable Mortgage? An assumable mortgage is a home loan where the buyer legally takes over

Apr 18, 2023 | Purchasing a Home

What is Mortgage PITI?

What is Mortgage PITI?

As you go through the mortgage process, you may encounter the acronym PITI in some of your documents. No, this does not mean your mortgage company is taking “pity” on you and giving you a discount. It is simply a term that includes all the components (pri

Apr 13, 2023 | Purchasing a Home

What do Appraisers Consider When Valuing a House?

What do Appraisers Consider When Valuing a House?

As you begin the process to get a new mortgage, whether for a home purchase or a refinance loan, your lender will order an appraisal for the property to determine how much it is worth. That valuation will play a large part in your overall mortgage plan. I

Apr 11, 2023 | Purchasing a Home

Should You Stay in Your Home Or Rent in Retirement?

Should You Stay in Your Home Or Rent in Retirement?

Your home is probably one of your most valuable assets, especially if you’ve been there for many years. As you near retirement age, you may ask yourself, would it be better to stay in my house as long as possible or to sell it and rent once I retire? The

Apr 06, 2023 | Purchasing a Home