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You probably know by know the Purchase Plus Improvements Program allows qualified purchasers to borrow up to 20% of the post-renovation value of a home, even with as little as 5% down. However, some planning still needs to be done before you venture into this...

Many of our blog posts have addressed closing costs when it comes to the home buying process. We’ve also mentioned the Purchase Plus Improvement program and how homeowners can benefit from it. However, there is another group of costs homeowners sometimes underestimate: home improvements. According...

We can never stress this point enough: get pre-approved for a mortgage before you begin looking for a home.  This pre-approval will help you know how much you can afford. So, does a pre-approved mortgage mean you are guaranteed a final mortgage approval? Not necessarily....

How are prepayment privileges calculated? A mortgage prepayment privilege gives you the choice to increase your monthly mortgage payments  before it is due and without a penalty.  The extra amount is applied to the principal. If you are under this type of privilege, you can...

Since January 2018, qualifying for a mortgage has been very challenging for first-time homebuyers, unless they got a “down payment” gift from a family member.  As we have discussed numerous times, the federal stress test and climbing prices are the main reason why it is...

We keep coming back to this topic of credit. It’s a crucial aspect for anyone planning for homeownership. However, similar to most things in the financial side of life, you need to be careful when building your credit history. It is very easy to get...

It is safe to assume that being a homeowner is almost everyone’s dream. We work hard to save for a downpayment, we make that house a priority on our list of goals, and we survive the entire process. Awesome! Unfortunately, getting the keys to our...

Many people pay no attention to their credit score as they believe (or have been told) it is just a number about your finances. While that is true, a credit score is indeed a number that represents your overall credit health, it is much more...