Beginning the process of purchasing a home is an exciting time. You are ready to invest in one of the biggest purchases of your life and settle down in a place of your own. Congratulations! Before you plunge into the waters of homeownership, there are several pitfalls you should be aware of and know how […]
What Is Private Mortgage Insurance (PMI)?
You have found the right mortgage for your needs and the home of your dreams. However, you cannot afford the 20% down payment. What do you do? Can you still get the home? In some cases, yes. Why Pay PMI & How Do I Pay It? If your down payment is less than 20% of […]
Does Buying Points Make Sense For Your Mortgage?
If you’re trying to get a good deal on Kansas City mortgage rates, you may have heard that you can buy points on your mortgage. Essentially, you are “buying down” your mortgage rate. But is this the right move for you and when should you do it?
Examples Of Common Closing Costs
When you close on your home, you will be paying around 2 to 6 percent of the purchase price in closing costs, or fees paid to third parties for their services. Lenders are required by law to provide you with an estimate of how much these closing costs will cost you so you know what […]
How to Get Closing Cost Assistance
When it comes to closing on your home, lenders are required to give you an estimate of how much your closing costs will be. Typically, home buyers will pay 2 to 6 percent of the purchase price of the home in closing costs and since closing costs are third party fees, they can be different […]
What are Prepaid Items?
You know that after you have gotten a Kansas City mortgage, you will have to pay closing costs when the mortgage closes. However after you look at your statement, you notice that you seem to be paying more than closing costs. What are these additions? Don’t panic! Simply put, prepaid items are future expenses related […]
A Guide to Reducing Closing Costs from a Kansas City Mortgage Company
Closing costs can add up quickly. Between recurring costs like mortgage insurance and non-recurring costs like lender fees, closing costs can end up setting you back just as you’re about to move into your new home. Luckily, there are several ways to reduce closing costs with your Kansas City mortgage company before your closing date […]
