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Mortgage Discount Points - are they really worth your hard earned cash?

So, you’re knee-deep in mortgage paperwork, and suddenly your lender starts talking about “mortgage discount points” – like it’s a magical option to save big on interest rates. But what are these points, and more importantly, are they really worth your hard-earned cash?

When it comes to the battle between 15 year vs 30 year mortgage, the question boils down to one thing: do you want to pay off your mortgage faster with higher monthly payments, or stretch it out over a longer period with smaller monthly payments? There are definite perks to each option, and the choice you make can impact not just your finances but also your lifestyle. So, here’s a quick breakdown to help you decide which one best suits you!

So, let’s face it: you might not be getting the 10-bedroom mansion, but that doesn’t mean you can’t find a home that’s just right for you. Whether it’s a starter home, a cozy condo, or a place with a backyard for your dog, there’s a perfect home out there that fits your budget.
When you’re ready to figure out how much house you can afford, the process doesn’t have to be scary. Pre-approval is your first step to making your dream a reality. And for expert help navigating the numbers, Maor Max Lavi at Superior Mortgage Lending can guide you through the mortgage maze and get you into a home that fits your life—and your budget. Owning a home might not come with a butler, but it’s still the dream.

For commission based income earners, getting approved for a mortgage can be tricky, but it’s far from impossible. With the right approach and preparation, you can show lenders that your income is as reliable as any salaried employee’s, even if it’s not consistent every month. Here’s how to improve your chances of mortgage approval when working with commission income.

If you own investment properties, you might be able to use them to help you qualify for your next home loan. Leveraging rental income can improve your debt-to-income (DTI) ratio and show lenders that you have the income stability needed for approval. However, it’s important to understand how to properly document your rental income to make the process as smooth as possible.

So, you’re ready to dive into the thrilling world of mortgage pre-approval, huh? Well, hold onto your calculators because we’re about to break down the steps you need to take to get pre approved for a mortgage—yes, it’s that delightful paperwork extravaganza everyone dreams about.

If your credit score is looking rough, and you don’t have much cash for a down payment, FHA is probably your best bet. On the other hand, if you’re someone with a bit more financial padding, a Conventional loan could be the way to go. You’ll get rid of mortgage insurance faster, and with higher credit, those better rates are likely to save you money over time.

Well, well, well… a mortgage rate cut, and suddenly everyone’s a real estate investor again. It seems like every few years, the mortgage industry turns into a carnival ride. You buckle up for what you think will be a pleasant journey through homeownership, and then BOOM! The rates go wild, and you’re either soaring to new highs or plummeting to new lows. As of right now, we’re in the middle of another one of those exciting dives – yes, current mortgage rates are dropping, and it’s time to decide if you want to cash in or sit back and enjoy the show.

Zero Down: The Ultimate Guide to 0% Downpayment FHA + DPA Mortgages

So, you want to buy a house, but your bank account is emptier than a ghost town at midnight. Fear not! The 0% downpayment FHA + DPA mortgage is here to save the day! Yes, you read that right – zero, nada, zilch downpayment. Sounds too good to be true? Well, let’s dive in and see what the fuss is all about.