Reader Question: Can you tell me what happens in a home buying closing process, and how much money I need to bring?
I can tell you the first part but not the last. Your escrow agent and/or mortgage lender will have to tell you how much money to bring to your closing. But by the time [...]
Reader Question: I have seen a ton of lender websites that tell me to apply online. Is online mortgage approval legitimate or just a way to lure people into a website?
Actually, it’s a little of both. You can get pre-qualified online, but that’s not the same as being approved for a loan. Pre-qualification and pre-approval [...]
Reader Question: I have gotten a mixed message from the media about the economy. Should I buy a house now or wait a while longer? Is now a good time to buy?
The mixed messages you are getting come from differences in opinion. It also comes from the fact that this question cannot be answered one [...]
Reader Question: “We have some credit mishaps in our past, and as a result mine and my husband’s scores are both low. We want to get qualified for a mortgage loan early next year. What are the best ways to rebuild credit quickly?”
First off, I’d like to congratulate you for taking the first step. By [...]
Reader Question: I have heard it’s possible to apply for a home loan online these days. But I’m a bit of skeptical of doing this. Is it safe to submit a loan application online, and if so where should I start?
You’re not alone. Many people have fears about web-related identity theft, and it’s easy to [...]
Reader Question: We are buying a house that’s about 20 years old, and we were told we need to get a home inspection before we close on it. We are first-time buyers with no experience in this area. What happens during the home inspection, and do we really need one?
Congratulations on buying your first [...]
Reader Question: Every time I turn on the news, I hear about mortgage companies that have gone bankrupt or been bought out. It makes me nervous, because I plan to buy a home soon. Which mortgage lender should I use these days? Any advice or recommendations?
I’m not comfortable steering you toward a particular lender, [...]