EEM

What is an energy-efficient mortgage?

More people are becoming interested in “going green” when it comes to their homes. There are many benefits of living in an energy-efficient home, including a higher quality of life, lower utility costs, and higher appraised home values. Homeowners can reduce energy waste by sealing their doors and windows to keep cool and warm air in, washing full loads of laundry with cold water, unplugging idle electronics, and switching to LED light bulbs, among other strategies. (more…) ...
private mortgage insurance

Everything you need to know about private mortgage insurance

When you purchase a home, you will have a number of fees to pay. One of those could be something called private mortgage insurance. Private mortgage insurance (PMI) is insurance to protect your lender in the case that you default on the loan. Here is what you need to know about private mortgage insurance: (more…) ...
first year homeownership

Owning a home is a big responsibility. Here’s how to succeed in your first year of homeownership.

Owning your first home is an exciting time and one full of new opportunities and responsibilities. Your home is one of the biggest responsibilities you will have in your lifetime! At Smartmortgage.com, we want you to be a successful homeowner, so here’s some advice on how can you succeed in your first year of homeownership. (more…) ...
raise low credit score

Low credit score? Try these four tips to raise it

Your credit score can range from 300 to 850 and is determined by factors like: Your payment history Types of credit you use Length of your credit history How often you apply for new credit Together, this information makes up your credit report, which can affect loan eligibility. A good credit score can offer many benefits to homebuyers, such as better terms and lower interest rates. Why is my credit score low to begin with? Here’s some things that may ...
buying a home

Why loan-to-value ratio matters to homebuyers like you

Exploring the idea of purchasing a new home is an exciting one—and full of questions and perhaps unfamiliar terms. You may have heard a few phrases concerning a home’s purchase, like down payments, debt-to-income ratio, and co-borrower. But do you know what a loan-to-value ratio is and how it affects you as a homebuyer? What is an LTV ratio? A loan-to-value ratio is a formula mortgage lenders use to weigh risks before approving a mortgage. LTV ratio is calculated by ...
SmartMortgage

What is RESPA & how does it protect you as a consumer?

The journey of buying a home can have a lot of twists and turns, from finding the best location to saving up to cover associated costs like down payments. The last thing you want to worry about is if you can trust your homebuying team. That is why the Real Estate Settlement Act (RESPA) was passed in 1974. This act prohibits transactional benefits between real estate agents and loan officers like unearned fees and kickbacks to protect the customer’s best ...
non-occupying co-borrower

What is a non-occupying co-borrower?

In some cases, you may need a little help to make your homeownership dreams come true. If you are in the market for a home and find yourself falling short of the financial requirements needed to secure a mortgage, you may have the option of co-borrowing with a non-occupant. A non-occupying co-borrower doesn’t live in the home A non-occupying co-borrower is someone that is willing and able to be a borrower on a mortgage but will not be living in ...
questions to ask lender

5 Essential Questions To Ask Your Mortgage Lender

Buying a home can be stressful, especially if it’s your first time purchasing. Preparing yourself ahead of time with the correct questions will help you know what to expect and ease concerns. Asking the right questions will also help you find the lender that works best for you and your needs. Lenders at SmartMortgage are always happy to answer any questions you may have. We are committed to providing you with the best possible experience. What type of loan do ...
home assessment

Know the difference: Appraised value versus assessed value

When shopping for a home, the price you see listed may not be the price you will pay. This is because the sale price of a home is determined via appraisals that consider location, comparable sales, the condition of the property, and any recent updates. Appraised value and assessed value shouldn’t be confused, as they serve two different purposes in the housing market. Here is what you need to know: The appraised value is the fair market value of the ...
Should I wait to buy a home in the winter?

Should I wait to buy a home in the winter?

There is no doubt that spring and summer are popular times to purchase a home! It is a beautiful time to spruce up the home’s curb appeal and flaunt its beauty on a sunny day. 40% of existing home sales are made in May, June, July, and August. If you find yourself frustrated by the lack of progress, remember to be patient and consider searching for a home in the winter. Buying a home in the winter has several benefits, ...

The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

Get Preapproved Now!

For low rates and expert advice call us now at (855) 997-7231 or apply online. Absolutely no obligation.