Saturday Strategy
Mortgage FAQ's, did you knows and much more...
How to drop your Mortgage Insurance
I just dropped MI off my house and I thought it might be helpful for you too.
First, you'll need to determine if your loan is eligible for mortgage insurance removal. Generally, if you have reached at least 20% equity in your home, you're eligible.
Link to HomeBot for your home valuation
Once you've confirmed your home has roughly 20% equity, you'll need to request a mortgage insurance cancellation. They will review your request and let you know if you meet the criteria or if they need a property review.If everything checks out. Your lender should remove the mortgage insurance requirement, which will result in a decrease in your monthly payments.
However, it's worth noting that some loans, like FHA loans, require mortgage insurance for a specific duration, regardless of your equity. In such cases, you may need to refinance your loan to eliminate the mortgage insurance requirement.
P.S. Can I count on you to call us when any friends, family or coworkers are looking to buy, sell or refinance a home? We'd love to help! You can just text/call me at 480.553.8770.
* Did you know we can finance in 45 states?
Reasons Your Home May Not Be Selling
Kevin Brierton – 7.10.2023 When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due…
Today’s Housing Inventory Is a Sweet Spot for Sellers
Kevin Brierton – 7.6.2023 One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings,…
Two Questions To Ask Yourself if You’re Considering Buying a Home
Kevin Brierton – 7.5.2023 If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the…
Americans Still View Homeownership as the American Dream
Kevin Brierton – 7.4.2023 Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide. A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream.…
Evaluating Your Wants and Needs as a Homebuyer Matters More Today
Kevin Brierton – 7.3.2023 When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list…
Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.
Kevin Brierton – 6.29.2023 Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You’re not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the…
Lending Standards Are Not Like They Were Leading Up to the Crash
Kevin Brierton – 6.28.2023 You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage…
Why Homeownership Wins in the Long Run
Kevin Brierton – 6.27.2023 Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision. Consider this: if…
The True Cost of Selling Your House on Your Own
Kevin Brierton – 6.26.2023 Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as an FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re currently considering selling your house on your own, here’s what…
What Homebuyers Need To Know About Credit Scores
Kevin Brierton – 6.22.2023 If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!