Your home is likely the biggest financial investment you will make. So it’s a smart move to invest some time learning more about the financing basics of homebuying and homeownership.
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Your home is likely the biggest financial investment you will make. So it’s a smart move to invest some time learning more about the financing basics of homebuying and homeownership.
Featured Articles
Down Payment Assistance Programs: Low or No Money Down Mortgages
Understanding Down Payment Assistance Programs When it comes to buying a home, one of the most common misunderstandings is that you need at least a 20% down payment. This misconception can discourage potential buyers, especially first-time homebuyers, from pursuing...
What Is a Temporary Rate Buydown Mortgage?
Ease into a Mortgage with a Temporary Interest Rate Buydown In today’s mortgage market, finding ways to make homeownership more affordable is key. One effective option is a temporary rate buydown mortgage. What is a rate buydown and how can it benefit borrowers? Let’s...
Unlocking the Keys to Condo Financing: All You Need to Know
Condo financing is an exciting and rewarding experience, especially if you’re looking to purchase a dream home with low maintenance and community amenities. It’s important to understand how condo loans work to make an informed decision in your homebuying journey. Let...
FHA Loans vs. Conventional Mortgage: Which One Is Right for You?
When it comes to financing your new home, choosing the right mortgage is so important – FHA loans, Conventional mortgages, down payment assistance – there are several options to choose from. Each loan program has its own set of guidelines, benefits, and...
Prepare Your Home for Hurricane Season: 7 Essential Homeownership Tips
Your Guide to Prepare Your Home for Hurricane Season and Severe Weather Homeownership is a considerable, rewarding experience, offering a place of comfort and security. However, natural disasters are inevitable, so it’s important to keep your home safe and protected...
How a Bank Statement Loan Can Help Self-Employed Borrowers
Understanding a Bank Statement Loan For entrepreneurs and self-employed individuals, securing a mortgage can often be a challenge. Traditional home loans typically require W-2 tax returns and other documentation that may not accurately reflect the income of...
Mortgage DTI – What Is Debt-to-Income Ratio?
The Ultimate Mortgage DTI Handbook When it comes to securing a mortgage, understanding your finances has never been more important. One of the most important metrics lenders use when evaluating a borrower’s eligibility for a mortgage is Debt-to-Income ratio, commonly...
Home Renovation Projects to Boost Your Home’s Value in 2024
Undergoing home renovation projects can not only enhance your living space but, if done right, may increase the value of your home. Whether you’re looking to attract buyers before selling your home or want to modernize your space, here are eight popular home...
Understanding Cash-Out Refi Loans and When They Make Sense
If you’re a homeowner looking to gain access to the equity you’ve built in your home, you’ve most likely heard about cash-out refinancing,* also commonly known as cash-out refi loans. These offer a useful way to access cash by refinancing your current mortgage. But...
DSCR Loans – What Is Debt Service Coverage Ratio?
An Investor’s Guide for DSCR loans Whether you’re just getting started with your investment portfolio or are a seasoned investor, navigating real estate is all about strategy. Supreme Lending is proud to offer a program to help investors easily finance dream...
Benefits of FHA Loans for First-Time Buyers
Learn why FHA loans may be a perfect option for first-time buyers. While first-time buyers are hunting for their perfect home, they’ll also need to be on the hunt for the perfect mortgage—which may seem more overwhelming and not as enjoyable as touring properties....
Mortgage Considerations When Buying a Vacation Home
As the weather heats up, it may be the perfect time to consider the possibilities of buying a vacation home or second property. A vacation home can be for more than just a getaway, it’s an investment in relaxation, adventure, and cherished memories. But before you...
Understanding the Steps of the Mortgage Process: From Pre-Qualifying to Closing
So, you've decided to take the plunge into homeownership. Congratulations! But where do you start? The mortgage process may seem overwhelming, especially for first-time buyers. That's where your local Supreme Lending team comes in to help simplify the journey from...
Everything You Need to Know About Jumbo Loans
House hunters who are interested in larger or more expensive homes that could exceed certain conforming loan thresholds may need to consider a Jumbo loan program. If you’re dreaming big in your homebuying journey, discover what exactly a Jumbo loan is, qualification...
Mortgage PITI: What All Goes Into Your Monthly Mortgage Payment
A mortgage is more than just the home loan amount, so let’s breakdown what all goes into a monthly payment beginning with the short acronym, mortgage PITI—principal, interest, taxes, and insurance. Understanding these factors can help you determine how much home you...
Basics of a Mortgage Closing Disclosure
As anyone who has been through the homebuying process can tell you, there are several important documents that are typically involved. One of the single most vital, and one that all homebuyers will deal with eventually, is known as the mortgage closing disclosure....
What Is Private Mortgage Insurance & How Does It Work
When considering buying a home and what your mortgage payment will look like, it’s important to be familiar with private mortgage insurance (PMI). All parties in the mortgage and homebuying process must be protected from certain risks, and this includes not only...
A Guide to Home Renovation Loans
Picture this – you currently own or want to buy a home with good bones, but it needs some TLC. The good news is that you don’t have to handle a home remodel alone. Renovation loans are a great option to help fund home improvements, repairs, and enhancements by rolling...
Getting a Mortgage Pre-Qualification vs. Pre-Approval
When considering buying a home, it’s highly recommended that the first step in your homeownership journey is to work with a lender to get pre-qualified or pre-approved for a mortgage. While the two terms sound similar and both help give buyers an understanding of how...
Why Refi? 5 Common Reasons to Refinance a Mortgage
The decision to refinance* your mortgage is a strategic move that can have a profound impact on your financial well-being. There are several types of situations when refinancing might provide specific benefits and unlock potential savings. It’s important that...
All You Need to Know About Appraisals During the Homebuying Process
There are several important steps involved in the homebuying process, and an independent confirmation of the property's value is a key step for mortgage approval. This evaluation is typically known as an appraisal. What is an appraisal, why is it done, and what else...
VA Loans 101: Benefits and Eligibility
The men and women who have served in America’s Armed Forces have sacrificed so much to protect our freedom and communities, including time away from their families. There’s no profession more deserving of having a home to call their own. Supreme Lending is honored to...
Unlock Homeownership With a USDA Loan for Rural Living
If you’re looking for a home with acreage in the country, to build the homestead of your dreams outside the city, or to embrace nature’s beauty of rural living, a USDA loan could be a great mortgage option with it’s no down payment requirement and flexible guidelines....
Homeownership Tips: 4 Simple Interior Design Trends for 2024
New year, new décor? Interior design can turn a house into a home with the combination of modern or traditional flare and personal style. Whether you’re planning to sell your current home in 2024 and need to attract potential buyers with stage-worthy features or...
What to Know About the Condo Loan Process
Condominiums—commonly known as condos—are a great option for homebuyers looking for less maintenance, urban settings, lock-and-leave lifestyle, and community amenities. But the differences between financing condos and single-family homes may bring more complexity to...