What is an appraisal?

Appraisals are very commonly required by lenders. First time home buyers often ask us what is an appraisal and why do I need one? An appraisal ensures you aren’t overpaying for the property and protects the lender from over-lending. While many mortgage loans still require an appraisal, there are a few instances where one might […]

What is PMI and how can I avoid it?

Private Mortgage Insurance (PMI) is required if you put down less than 20%. Though PMI has a bad reputation, it is not always negative. It provides borrowers with the opportunity to purchase a home when they do not have the cash on hand for the full 20%. Here, Paul explains why lenders require PMI and […]

Ideal Credit Scores

Credit scores. We all have one, but what score do you need to get a mortgage loan? Your score can mean the difference between approval and denial for sure, but it can also factor into how difficult the approval process will be. Paul breaks down the acceptable scores and the ideal ones that will help […]

How Much Down Payment Do I Need?

One of the most common questions we get from first time home buyers is “How much down payment do I need?” The quick answer is you don’t need 20% down. Click the title to hear Paul explain the 4 options. 4 Options: VA Loan: 0% USDA: 0% Conventional: 3% FHA: 3.5%