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DON’T MOVE YOUR CASH/SAVINGS AROUND: We have to verify all funds for closing, including the source of those funds. Moving assets around can create a paper trail nightmare. The best advice is to leave everything where it is, even if the purpose of the move is to pool your funds for buying the house. After…

A co-signer is a mortgage loan applicant who co-applies with a home buyer to help the buyer qualify for their mortgage.  This co-applicant is typically a family member who does not plan to occupy the property the home buyer is purchasing, and is therefore labeled a non-occupant co-borrower (or co-signer). Adding a co-signer to a…

An interest rate buydown will decrease the interest rate for the first 1-2 years. There exists in the mortgage industry both a 1 year buydown and also a 2-1 buydown. For example in a 1 year buydown, let’s say the starting interest rate is 6%. For the first year, thanks to the buydown, the interest…

Home insurance on your new home is required to approve financing for your home. Home insurance is also often referred to as homeowner’s insurance or hazard insurance, and these terms are interchangeable.   You’ll need to choose an insurance provider and agree to the coverage, deductibles, and cost for them to finalize the policy. You…