Homebuying and the Customer Journey
At what point in the home buying process is the right time to start thinking about a mortgage? Inexperienced home buyers are trying to answer this question themselves. Of course, the answers to other questions related to buying a home are most often searched on Google or from friends and acquaintances who have already gone through this process. At best, this approach causes confusion and stress. It would also inevitably waste time. In the worst case, funds and dream property are added to the list of losses.
What’s an escrow account and what’s the point of it?
To avoid a situation where the buyer or seller is left without money and without property because the other party defaults, it is worth opening an escrow account. An escrow account is a tripartite agreement between the buyer, the seller, and the bank, which ensures a fair exchange of property and money.
Applying for a Mortgage Loan during the Coronavirus
The newly discovered Covid-19 virus has rapidly changed the economic situation and has stirred up a lot of insecurity. But does it mean you have to forget about the dream of your own home and the opportunity to get a mortgage?
6 Reasons to Work With a Real Estate Agent When Buying a Home
Saving money is both prudent and pleasant. In the case of a costly event such as a home purchase where the expenses are high whichever way you look, who wouldn’t want to save money by doing everything they can themselves? However, most experts will advise you to work with a real estate agent. Here are some of the main reasons why.
What is a Mortgage Broker?
Have you ever heard anything about mortgage broker? If you have found your dream house and are seeking the best loan offer, a mortgage broker can help you. How? Read and find out!
Is it Better to Rent or Buy?
The decision to rent or buy is a complicated one. It is easy to believe that buying is better, because rent is pure expense. So – why not buy a house, make mortgage payments and see your property value grow? However, to make the decision, you have to take into account personal aspects, like, what is more important to you – having freedom or control.
Costs associated with mortgage loan
When deciding to apply for a mortgage, you should know that issuing a loan creates extra expenses. The amount of expenses can slightly differ from one lender to another, however, the list of them is quite similar. Learn which the most common ones are.
Manage your housing loan wisely through refinancing
A closed loan agreement with a particular lender does not mean that you have to settle with the existing terms until the end of your contract. Keep checking your options with other lenders, and if you find some other offer more favourable, refinance your loan.
Housing loan for a self-employed? Maybe…
A few weeks ago, in a discussion among colleagues we came up with the term “cookie mold”, describing mortgage lending practices in Latvia. If you don’t fit the mold, you will get a fast “No” (or worse — you will be waiting for that “No”). But each of us is so different!
What interest rate do you deserve?
Yes – you read it right! For the purchase of housing you will get a loan offer that you deserve (you qualify for), not the one your neighbour got, or you saw in an ad. Learn more about mortgages and interest rates in the interview with Movin Marketing Manager.
Adjust the mortgage terms according to your possibilities
Adjustable loan that meets the customer’s wants and needs is a newcomer in the mortgage market. You can create favourable terms for yourself by changing interest rate and origination fee amounts.
Your loan application got declined? Don’t worry!
There may be different reasons why a housing loan application is declined. It is not always the worst-case scenario, and you don’t have to give up and accept that you won’t be able to buy your own home for a long time. Movin advises looking deeper into the reasons behind the rejection.