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Mortgage

Deciding On A Mortgage For Buying A Fixer Upper

October 21, 2021 by bobelliot

It can be difficult to find a dream house, so many potential homeowners might be looking to save money by purchasing a home that they need to repair. Often referred to as a fixer-upper, this is a house that may require some extra work to restore to a livable condition. Read More

Posted in Mortgage Tagged FHA loan, fixer-upper, home improvement, home loan, mortgage

A 20 Percent Down Payment: Is This Really Necessary?

October 21, 2021 by bobelliot

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people Read More

Posted in Mortgage Tagged down payment, home loan, mortgage

After Closing On A New Home: The Top Tasks To Complete

October 15, 2021October 15, 2021 by bobelliot

Closing on a new home is exciting and many people view their closing date as the finish line; however, even after closing a new home, there is still a lot that has to happen. What do new homeowners need to do after closing on a new home? Mark The Date Read More

Posted in Mortgage Tagged closing, HOI, mortgage

The Timeline: Prequalifying To Closing

October 15, 2021 by bobelliot

Even though purchasing a new home can be exciting, it can also be stressful. There are a lot of tasks that need to be completed between qualifying for a mortgage and receiving the necessary funds. Therefore, potential homeowners need to understand the timeline so they make sure they are on Read More

Posted in Mortgage Tagged application, closing, mortgage

Exploring Asbestos Prevention And The Top Green Alternatives

October 8, 2021October 8, 2021 by bobelliot

Houses across the country come in all shapes and sizes. Some of them are older than others, so they might come with aspects that are a bit outdated. Unfortunately, there are a lot of locations where older homes might still have asbestos in them. While this should be something that Read More

Posted in Mortgage Tagged green options, home buying, mortgage

The Top Benefits Of Having Mortgage Debt

October 8, 2021October 8, 2021 by bobelliot

The vast majority of people need to take out a loan to purchase a home. While there are many forms of debt that people would rather avoid, some types of debt can actually be a positive. This includes mortgage debt. What are a few of the top benefits of having Read More

Posted in Mortgage Tagged home loan, homebuying, mortgage debt

A Mortgage Pre-Approval Letter: How Long Does It Last?

October 4, 2021 by bobelliot

Buyers need to make sure they are competitive when they make an offer on a house. One of the ways to do that is to get a pre-approval letter. What does this mean, and how long does it last? What Is Mortgage Pre-Approval? Prior to working with a real estate Read More

Posted in Mortgage Tagged home buyer, home loah, mortgsge, Pre-Approval

An Overview Of the Digital Mortgage Process

September 29, 2021 by bobelliot

Changes are being made to the mortgage application process every year. With access to online-only lenders and a decentralized financial system, more doors are open to potential home buyers than ever before. For example, there are many institutions that are making it easier to apply for mortgages by allowing applicants Read More

Posted in Mortgage Tagged home buying, home loan, mortgage

Borrowers With Student Loans Might Have An Easier Time Qualifying For An FHA Loan

September 29, 2021 by bobelliot

n the past, a lot of potential borrowers were declined for FHA loans due to the presence of student loans. Now, the Biden Administration along with the FHA has eased a lot of their regulations surrounding student loans, making it easier for borrowers with student loans to qualify for a Read More

Posted in Mortgage Tagged fha, mortgage, studant loans

Getting Your Mortgage Application Approved As A Self-Employed, First-Time Homebuyer

September 24, 2021 by bobelliot

A significant number of people are self-employed, which means they might be relying on this income to apply for a mortgage. It is true that people who are self-employed may face additional challenges when trying to get approved for a home loan when compared to someone with traditional W2 income, Read More

Posted in Mortgage Tagged home buying, mortgage approval

What Are The Requirements To Sell A Home Using An FHA Loan?

September 16, 2021September 16, 2021 by bobelliot

Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property. While their standards aren’t as stringent as they used to be, a home needs to be Read More

Posted in Mortgage Tagged home loan, home mortgage tips

What To Know About IRS Installment Agreements And Home Loans

September 13, 2021September 13, 2021 by bobelliot

When applying for financing, lenders want to make sure the client is going to pay back the balance of the loan. Therefore, they will look into pre-existing debt including credit card debt, student loans, car payments, and back taxes. Sometimes, applicants have IRS installment agreements. This is an agreement consumers Read More

Posted in Mortgage Tagged finance, irs agrrement

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Bob Elliot
eXp Realty
612.868.5500
bob@mnresteam.com
7700 France Ave S, Edina, MN
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