homeowner associations

A quick primer on homeowner associations

Buying a home can be exciting, fun and, at times, stressful. For most people, purchasing a home is an infrequent experience. So, everything from the specifics about the house you want to purchase to things such as appraisals, down payments, private mortgage insurance, title work, realtor’s commissions and so much more may seem almost overwhelming. Add one more item to the list:  Homeowner associations (HOAs). What are homeowner associations and what do they do? Homeowner associations are generally formed when ...
Downsizing

Downsizing? Here are 5 things to consider

The kids have started their careers and moved out of the house. Their rooms are now guest bedrooms and an office. The minivan is long gone, replaced by a two-door convertible. And even though you’ve always had a golden retriever, your current pup is a 21-pound Boston Terrier.  On top of everything else, maintaining a home that is suddenly spacious may seem more like a chore than a labor of love. The endless hours spent keeping up the lawn, painting, ...
escrow

Escrow 101: The basics of this important tool

Securing a home loan and buying a home involves terms, concepts and services that can be confusing to home buyers, especially to first-time purchasers. One of those terms is “escrow” or “escrow account.” Simply put, placing funds into an escrow account means that money is held by a third party in a financial transaction. Money in escrow is secure and carefully monitored by agents who hold the funds until they are certain each of the parties in the transaction have ...
pre-approved

“Pre-approved” and “approved” — what’s the difference for mortgages?

Prospective homebuyers hear time and again about the importance of being “pre-approved” when shopping for a home. Ads in virtually all forms of media emphasize – loudly – that pre-approved buyers have more buying power while shopping and that being pre-approved gives a buyer an edge over others who have not been pre-approved for a loan. The idea of being “pre-approved” certainly and logically leads to the concept of “approved.” But what are the differences between the two? Read on ...
prepare rental properties

5 Tips for preparing investment properties for renters

Investment property owners are often keen on renting out a home as soon as possible to get a return on their investment. Before they can do that, the home must first be prepared. Here are five tips investment property owners like yourself need to know to prepare your properties for renters: (more…) ...
Mortgage Interest Credit

What is mortgage interest credit?

You may qualify for a mortgage interest credit depending on your annual income. Mortgage interest credit is a mortgage assistance program that allows home buyers to claim a dollar-for-dollar tax credit. This tax credit can be up to $2,000 for a portion of their mortgage interest. (more…) ...
Why is a home no longer pending?

Why is a home no longer pending?

When a pending home on the market goes back to an active listing, those searching for a home will wonder why the sale fell through. Was there something wrong with the house? In this blog post we will explain the top three reasons why a property can go from pending to no longer being under contract – including contingencies not being met or buyer termination due to circumstances beyond their control. (more…) ...
healthy finances

Why should I check my credit report?

We talk about your credit score and report a lot regarding applying for a home loan from SmartMortgage, and with good reason. Your credit report is an essential document that outlines your credit history. Checking your credit report provides many benefits to help you manage your finances and apply for home loans and other large purchases. (more…) ...
credit score and mortgage loan

How a good credit score benefits you

Your credit history is one of the top factors that lenders consider when you apply for a mortgage loan. Used for FICO and VantageScore, a good to excellent score is between 690-850. You will have more financial options and negotiating power by building up a good credit score and a healthy credit history. The benefits of good credit include the following: (more…) ...
buyer confidence

Why should you get a pre-sale inspection before selling your home?

Are you planning to put your home on the market? If so, it may be worth considering a pre-sale inspection. While it may sound like an added hassle and expense, having a thorough inspection of your home before listing can be incredibly beneficial in the long run. (more…) ...

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.

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