Finding the balance between saving or paying off debt first can be tricky. It is always important to evaluate your finances early so you can improve your chances of being approved.

You might be asking yourself what is the right amount of debt, while also having a healthy down payment?

We are here to help offer some guidance on how to tackle this question.

Saving for a Down Payment

When it comes to saving, having more cash in your pocket is never a bad idea. It is never too early to start saving for you for your down payment even if your mortgage...

Are you looking to tap into extra equity while in retirement? Is most of your equity tied up in your home? Are you age 62 or older?

A reverse mortgage may be an option for you and our team can assist - check out https://sunnyreverse.com/

What is a Reverse Mortgage?

A reverse mortgage is a loan available to homeowners ages 62 or older, who own their homes. Generally reverse mortgages are federally insured products, however many lenders have proprietary reverse products that they can lend with, which may help you tap into your home...

Whether you are buying your first home, refinancing or looking to purchase another property, the mortgage world can feel like people are speaking a completely different language. From the acronyms to the specific documentation needed for your mortgage. Not to worry.

We have compiled a list of common terminology, so you can familiarize yourself with the vocabulary used when discussing your mortgage.

Preapproval

Preapproval is the process of receiving a letter from a lender, to approve the amount they will let you borrow for a home. Many times, this is the...

As you start exploring different mortgage options the term “amortization” will be brought up quite a bit. Not to worry. We are here to breakdown amortization and how it impacts your mortgage.

What is Amortization?

Amortization is making a fixed payment over time, with a portion of your payment going towards the loan principal and the other remaining portion towards interest, based upon a predetermined schedule.

Once you start making payments on your mortgage, our amortization schedule will help you determine how much of your monthly mortgage payment is...

Has your family member or someone close to you offered to help with your down payment or closing costs? This is becoming an increasingly popular way for home buyers to receive assistance. However, there is more to the process than just receiving the funds. We will dive deeper into the process of receiving gift funds and what you will need to do to communicate this with the lender.

How the Process of Gift Funds Works

Your lender will need some specific details regarding these funds before they can be accepted.

When you have decided to use gift funds for...

Homebuying can be quite a stressful time and finding the funds for a down payment can add to this stress. Not to worry, there are many different ways you can fund your down payment. It is important to evaluate your assets and determine where you may be able to supply the funds from. There are many different ways to satisfy a down payment requirement, depending on what options you qualify for.

What is a Down Payment?

A down payment is the cash you’ll pay toward the purchase of your new home. The more you are able to put down upfront, the less you will have to...

Have you started searching for that new place to call home?

You’ve scoured the internet for the perfect home. Taken drives through neighborhoods and pictured the new life you can build there? Before you start visiting all of the open houses, pre-approval needs to be added to the list.

What does Preapproval mean and how can it help you during your home buying journey?

Preapproval is much different that pre-qualification. Preapproval brings you much more power. This is the start of the process to qualify for a mortgage. A lender is now approving the...

Refinancing is a word used frequently in the world of mortgages and Homeownership. What is it? Is this an option for me? When should I? How can I? These are all questions we ask ourselves as we explore mortgage decisions. Deciding to refinance can help you save money on your mortgage or help you shift debt to a more favorable position using the equity you have built up in your home.

What is Mortgage Refinancing

When you choose to refinance your mortgage(s) you are simply paying off your current mortgage loan(s) with a new mortgage. The process...

Are you ready to make the leap but don’t know where to start?

We are here to help you along your journey. Whether you are refinancing, purchasing a new home or still trying to figure what you would like to do, we are here to help.

One of the best tools to start with is our mortgage calculator.

Using our calculator will help you estimate your monthly mortgage payment easily.

Mortgage calculator

Key Things You Will Need to Know:

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One of the best ways to create success in a situation is to perform mental modeling. Pro athletes, Navy Seals, Nobel Laureates, successful CEOs and performance driven individuals use mental modeling to visualize high pressure, new situations before they perform them.

You might ask, what does all this have to do with mortgages? Good question. More than you might think. For a lot of borrowers, the mortgage process is new and can be daunting. And even for home buyers with previous experience, the home loan marketplace is constantly changing. Rates are tied to decisions made by the Fed...