Sergio Garcia & Sofia Garcia, Realtors with Samson Properties
Homeowners with equity have access to two unique financial options: home equity loans and home equity lines of credit (HELOCs). But what’s the difference? HELOC 💰 Credit line that you can draw upon as needed 💰 Only pay interest on the amount you borrow 💰 Variable interest, depending on your credit score and the prime …
Did you know the size of your down payment can have a big impact on your mortgage? Here are a few of the ways: 📉 Interest Rate A larger down payment often means a lower interest rate on the money you borrow.🗓️ Monthly Payment A bigger down payment means smaller monthly payments, making it easier …
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Did you know that a high debt-to-income (DTI) ratio is the #1 reason mortgage applications get rejected? 🤯 Your DTI ratio is the percentage of your gross monthly income that goes toward debt payments, including your mortgage. Lenders use DTI to assess your ability to afford a home. So, how can you avoid rejection and …
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The walk-through is one of the last steps in the homebuying process, but you shouldn’t rush it! Here are a few things to check during your final walk-through: 💡 Are all items included in the sale (e.g. light fixtures and appliances) in place and operational? 🚿 Are all major systems working properly? ⚒️ Have all …
Ready to buy a home but feeling overwhelmed by financing options? Here are four factors to consider when choosing a mortgage: 📈 Credit Score:This three-digit number can significantly impact your interest rate and the types of loans you qualify for. 📊 Income & Expenses:Lenders want to ensure your income will comfortably cover your mortgage payments …
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Click here to access a printable pdf version of this post Presiona aqui para version en español With home prices and rates still relatively high, securing a mortgage can feel daunting––even to the most experienced borrowers. But don't let that deter you: If other homebuyers' experiences are any indication, odds are you'll eventually find a …
Continue reading "Top 4 Factors To Consider When Choosing Your Mortgage"
You may not be looking to buy or sell a home right now, but did you know we can still be a great resource? Here are 3 reasons to reach out to us: 👷 You need a referral. Whether you’re searching for a housekeeper or a roofer, we’re happy to share our list of trusted …
GarciaSHomeS Real Estate Blog 