Your mortgage is done … now what?

Expert Tips

Your mortgage is done … now what?

Two men shake hands in an office

For most people purchasing a new home financing is often the most stressful part. What are some other things you need to worry about before moving into your new home? Moving expenses: Along with financing a new home, moving everything you own can be a very stressful process to go through. You can save yourself…

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Should you consider a cash-out refinance?

Clipboard with sheet of paper that says "cash-out refinance" sits on a desk with a calculator and wood house cutout.

A cash-out refinance is a great option for paying down debts, getting finances in order, or for home improvements and other major expenses. A refinance uses the equity, or built up value, in your home to finance these desired items. For example: you owe $150,000 on your mortgage, but your home is valued at $250,000.…

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When Should I Put My House On The Market?

Home For Sale Sign outside

If you’re thinking of selling your home, think spring. That’s because the season of blossoming flowers and gentle breezes has traditionally held the designation as the best time of year to sell a home. Before you start prepping your home for a photo shoot that shows it off in the best light, take a moment…

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What determines your credit score?

A man checks his credit score on his phone and computer.

Your credit score stays with you forever and helps lending institutions determine how much money they should borrow you, but how is it determined? There are several areas credit bureaus look at when determining your score. They don’t randomly assign a three digit number between 350-850, so it’s a good idea to know what goes…

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What is Mortgage Servicing?

Close up of hands signing a mortgage loan.

Have you ever wonder what happens after you take out a mortgage? For instance, who manages the loan? Either the mortgage lender will retain your loan servicing or a specialized mortgage servicer will. A sure-fire way to tell is by reviewing your loan statement or payment coupon book. As servicers, they are responsible for the…

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Understanding cash on hand

Man with cash in hands SouthPoint Home Mortgage in Sleepy Eye Springfield New Ulm St Peter Mankato Hutchinson Waconia

Recently, I was reading an article outlining the amount of cash needed to buy a house. To be honest, as a mortgage loan processor, the word “cash” makes me nervous! Using cash on hand for your down payment and closing costs, may cause a closing delay and/or additional documentation needed. That’s because for final loan…

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Make an Obsession of Making it Easy

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One of SouthPoint Home Mortgage’s pillars is to “Make an Obsession of Making it Easy.” We take great pride when we hear borrowers tell us that their lending experience was much easier than they were expecting it to be. By utilizing the following tools, we can make the home buying process just as easy for…

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The 20% Down Myth

Down payment myth wood house with calculator SouthPoint Home Mortgage

If you’re desperate to own a home of your own, you are likely saving up until you have 20% of your dream home’s total value.  All that’s great, but the fact is you don’t need to put down 20%.  The 20% myth is leftover from the era after the housing crisis, when many lenders tightened…

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New Year’s Resolution – Home Buyers & Owners

Lady sitting on floor withe a house drawing behind her thinking about New Year’s Resolution for Home Buyers & Owner

We are all familiar with the typical New Year’s resolutions – eat healthy, exercise, save more money, etc… but when it comes to home ownership, having goals in place are just as important. Home Buyers If you are thinking of purchasing a home in the upcoming year, check out this list of home buyer resolutions…

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