Posts Tagged ‘Home Loan’
Make an Obsession of Making it Easy
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…
Read MoreThe 20% Down Myth
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…
Read MoreQuestions to Ask Your Mortgage Lender
Committing to a mortgage, no matter what option you choose, is a big decision and not one that should be taken lightly. As you’re going through the lending process, it’s important to ask your Mortgage Loan Officers questions about what to expect. After all, they are the experts! If you’re unsure what questions to ask,…
Read MoreShould I escrow my taxes and insurance?
One of the big terms in the mortgage world is escrow. An escrow account is set up to collect funds to pay your property taxes, homeowner’s insurance and, if applicable, mortgage insurance. The lender collects one twelfth of each of those yearly premiums each month to ensure there is enough money in the escrow account…
Read MoreThe truth about mortgage myths and misconceptions
The home buying process can be overwhelming, especially when you’re looking to finance your purchase with a mortgage. It’s important to not only understand the mortgage process but to be aware of potential myths and misconceptions that exist. Myth 1: Being pre-approved guarantees you’ll get a home loan Getting pre-approved for a mortgage is a…
Read MoreLimited Housing Market
Today’s housing market is great for sellers, but challenging for buyers. With the limited amount of housing inventory many buyers are stuck in limbo trying to navigate a fast paced offering period in hopes they are the first to the table. When you find yourself in this situation there are a few things you should…
Read MoreMaking an additional payment
Obtaining a mortgage loan can be an overwhelming process. Sometimes, the thought of having a loan against your home for 30 years seems like an eternity. To help reduce that stress, there is an option to consider; make one additional principal and interest payment to your mortgage each year. By doing so you can cut…
Read MoreChecklist of Documents
Getting a home loan can be a stressful time in your life. At SouthPoint, we want to help make the process smooth and easy for you. When you are ready to begin the process and talk to a Mortgage Loan Officer, you will need general personal information such as: Financials Income (hourly or salary): Current…
Read MoreTips to Qualifying for a Home Loan
Oftentimes, the Average Joe doesn’t know much about obtaining a home loan. People hear reports of dropping interest rates and lower home prices and hastily decide to jump into home ownership. To their surprise, they discover that the process of getting a home loan differs from getting a car loan or renting an apartment. Applicants…
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