Author Archives: theloanman

A new job could mean no new house…

  Think twice about changing employment if you’re buying a home The new job you’re contemplating might pay more and make it even easier to make mortgage payments on that new home you want. But think twice before you take … Continue reading

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You have the money to pay cash for a house, but should you do it?

  Home buyers who can make an all-cash offer have a bit of an advantage over buyers who need a mortgage loan. Sellers love them because there’s no uncertainty or worry over appraisals or a loan that might fail at … Continue reading

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Must I have a mortgage loan pre-approval before choosing a home to buy?

Is it necessary to a mortgage loan pre-approval before choosing a home to buy? The legal answer to that question is no. There is no law or regulation that requires a prospective buyer to become pre-approved before viewing homes, choosing … Continue reading

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Will Your Home Sale be Subject to Capital Gains Tax?

  You pay sales tax and income tax – and when you sell your home you may also pay capital gains tax. What is it? It is the tax on the difference between what you paid for your house and … Continue reading

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Have you saved enough for a down payment?

  One of the first steps toward becoming a homeowner is gathering the funds for a down payment. If you’re thinking of buying a home, you may have cut back on non-essential services and purchases, held yard sales, or even … Continue reading

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Bad credit-building advice – ignore these 7 myths

Before you apply for a home mortgage loan, it’s best to get your credit in the best shape possible. The higher your scores, the lower the interest rate you’ll be charged. And of course, if your scores are too low, … Continue reading

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What is underwriting, and why can’t you skip it?

Mortgage loan underwriting is a necessary and required step in getting a mortgage loan, but it doesn’t have to be an ordeal. And, while many believe it can take more than a week to complete, that isn’t necessary either. Underwriting … Continue reading

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Still searching for a house? How to protect your down payment money.

You’ve saved up the typical 5-20% for a down payment, but haven’t yet been able to purchase a house. What should you do with that money as you continue the search? The answer depends a great deal on your future … Continue reading

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If you’re planning to buy a new home – postpone buying a new car

If you’ve already been pre-approved for a home mortgage loan, your loan officer will have told you not to do anything that will change your financial picture. That includes making any large purchases, obtaining new credit for any reason, co-signing … Continue reading

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Refinancing: Which lender should you choose?

If you’ve been watching interest rates coming down and thinking about a refinance, you may be wondering whether to go back to your current lender or look around for a new one. The beauty of refinancing with your current lender … Continue reading

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