A very common question that we get asked as our clients get ready to buy a home, is what is the difference between pre-qualification and pre-approval? Are they the same? Is one better that the other? The truth is they sound very similar, and in fact they are similar in many ways. But the differences between […]
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When you’re considering a mortgage with lender credits or discount points, it helps to determine how long it will take to break even. Simply stated, you break even when the savings from one of these loan features even out with its cost. You can ask your lender to share this information with you. But it’s […]
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As if securing a down payment and qualifying for a mortgage isn’t difficult enough for first-time homebuyers, you also need to factor closing costs into your budget. These fees and taxes typically add 2%–6% to the cost of your purchase. And if you are not prepared, they can become the difference between moving in and […]
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