Mortgages | Tampa Bay Homes for Sale

Types of Mortgages

A mortgage is a loan secured by real estate that's used to purchase, refinance, or renovate a home. When you secure a mortgage, you agree to pay the lender back in full over an agreed-upon period of time. There are many different types of mortgages available today, each with their own benefits and drawbacks. Knowing the types of mortgages available and which is right for you can help you make an informed decision when it comes to home ownership. Conventional Mortgage This type of mortgage is … Continue reading...

What is a Mortgage Commitment, and How is It Different From Preapproval?

When you're buying a home, getting preapproved for a mortgage is an important step. But what happens after you've been preapproved? You might think that the next step is to commit to a mortgage, but that's not always the case. In fact, there's a big difference between getting a mortgage commitment and getting preapproved. This guide explains what that difference is and how to get the right one for you. What is a Mortgage Commitment, and How is It Different From Preapproval? When you're buying … Continue reading...

What is an Adjustable-Rate Mortgage?

An adjustable-rate mortgage (ARM) is a type of home loan that has an interest rate that can change over time. ARMs typically offer lower initial interest rates than fixed-rate loans, allowing borrowers to save on their monthly payments in the short term. However, since the interest rate can adjust periodically, there’s an increased level of risk that the payments could become unaffordable if the rate increases. When you take out an ARM, you agree to a fixed interest rate for a certain amount … Continue reading...

4 Tips for Finding the Right Mortgage Lender

Especially when interest rates are low, you can go online and see dozens of ads for mortgages each day. If you're in the market for a home loan, it's tempting to click on the ad that shows the almost unbelievably lowest rate. Of course, that's what the lenders want you to do. They are using those low rates to generate leads for their loan business. But there's more to picking the right lender than simply clicking on the lowest rate you see on a screen. Not all lenders or loans are created … Continue reading...

How to Decide How Much to Put down on a Home

Before the foreclosure crisis, it wasn't uncommon for people to buy homes with no money down. The crash of 2008 changed that, however, and the pendulum swung the other way. You almost had to come up with 20 percent of the purchase price for a down payment on a home. While zero-down mortgages may never be as prevalent as they once were, there are low (and no) down-payment options out there. Government-backed loan programs offer zero-down and 3-percent programs, and even traditional lenders are … Continue reading...

5 Things you NEED to Know About VA Loans

Veterans of the U.S. Armed Forces, active-duty service members, reservists and some qualifying family members may be entitled to apply for a VA loan. These loans are backed by the Department of Veterans Affairs, so while the loan is funded through the banks and mortgage companies just like a conventional loan is, the VA guarantees a portion of the loan against loss, enabling the lender to provide you with more favorable terms and making it a desirable choice when buying a home. Here are a few … Continue reading...

Three Trends You Need to Know For Real Estate in 2020

Are you thinking of buying real estate in 2020? If so, you're probably wondering what real estate predictions and trends are forecasted for this turn-of-decade year. 2019 has been fairly good to sellers in many locales, with high demand for housing and limited supply of houses on the market in many places. Lower-priced "starter" homes have been in high demand everywhere. Does 2020 appear to be more of the same and what should buyers and sellers know about the predictions for the coming … Continue reading...

Three Common Credit Report Errors

Have you taken a good look at your credit report recently? If you haven't, you should...even if you know your overall score and are okay with it. There's a lot that goes into credit score reporting, such as how many accounts you have, which lenders the accounts are through, what the balances are, how old your lines of credit are, and other personal details such as name, addresses, if you're a co-signer on an account, etc. It is a tried and true way for companies to take a quick look to see how … Continue reading...

Three Financial Tips For First Time Home Buyers

Buying a home is a time of tremendous excitement and opportunity - but it should also be a time that you prepare for in advance so that you will not experience many bumps in the road, and will be far more likely to actually snag that house of your dreams! Although it is tempting to search for a house first (and there is certainly no harm in looking at what is available) your first priority during this time should be getting your financial affairs in order. After that's done, when you browse, you … Continue reading...

Three Ways To Gain More Time When You’re Strapped

We all have days, weeks, months or years when we are seriously pressed for time. This could be due to work, family life, stressors such as illness or caring for ill relatives, having young children, being in the middle of a move, or all of the above! There's no doubt that sometimes life gets extremely difficult and it's hard to find time to do the bare necessities: sleep, eat, and shower. If your life routinely is like this, it may be worth investigating why: Is your job too much? Can you reduce … Continue reading...

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