"What is a conventional loan?" you might ask. Conventional home loans are the most common type of mortgage in Missouri and across the country. These loans are not government-backed loans like FHA (Federal Housing Administration). In this article: Conventional Home Loan:…
Most of us will spend the most money on purchasing a home, so anything that might lower the mortgage cost is worthwhile. Some homeowners purchase mortgage points, commonly called "origination points" or "discount points," to reduce the interest they pay.…
If you have recently received extra money, you might consider paying your mortgage principal. If so, this article covers the pros and cons of what you should know about recasting a mortgage. Occasionally, homeowners will receive a rather sizable amount…
When you apply for a mortgage, the lender will require documents from you to approve your loan. This mortgage documentation checklist will give you an idea of the needed items. Keep in mind that this list is not exhaustive, and…
The interest rate on a mortgage can significantly affect your monthly payment, the total cost of your home loan, and your purchasing power. It is essential to understand the key factors influencing mortgage rates. Everyone likes to pay less for things, and…
Getting a Kansas city mortgage pre-approval upfront is an important first step. With pre-approval, you and your lender know precisely your budget. Shopping for a new home should be an exciting time in your life. But finding a home that you…
The Closing Disclosure describes the terms of your mortgage loan, including the purchase price, interest rate, estimated property taxes, insurance, closing costs, and other related expenses. You must review all five pages thoroughly as it's one of the most important…
One of the most important mortgage disclosures you'll examine when comparing home loan offers is the loan estimate. However, the loan estimate form contains a plethora of precise information. There are key points to keep in mind so that you…
A mortgage refinance offers significant benefits to homeowners. It gives them the ability to consolidate their debts, pay off their mortgage sooner, and save money with lower Kansas City interest rates. But refinancing at the wrong time or for the…
When you complete a real estate transaction, whether you're refinancing a mortgage or purchasing a new property, you pay closing costs. It's important to be financially prepared for this expense as these costs might range from 1 to 2 percent…
