Mortgages and refinancing can get confusing and leave you with questions. Below are the questions I get asked regularly. If you don't see you question here, give me a call at 201-424-0426 and I'll answer it for you.
How Does my Credit History Affect my Mortgage?
Your credit history is one of the most important factors in determining what you could be approved for. Your credit history impacts your interest rate, down payment options, amount of monthly PMI you will pay if you're not putting down 20%, loan programs you're eligible for, and how much you can borrow.
Everybody wants the lowest interest rate. After all, most consumers assume that the lower the interest rate, the cheaper it is to borrow money. The truth is , the lower your interest rate, the lower your payment is, not necessarily the cost to borrow money.
In the past, I would have clients tell me, "I have no interest in participating in a bidding war," and then they would choose to move on to the next property. Most of these clients learn very quickly that the bidding war is not something they could avoid if they were serious about purchasing a property, and it's probably going to be this way for the near future. So instead of getting stressed out over something that's completely out of your control, let's focus on how to win that bidding war.
Check out my tips on how to win a bidding war in this video!
So you want to purcahse or refinance a home and you have no clue how much anything costs or how much cash you're going to need. Now, you can start by Googling "how much are my closing costs" or, take note of these two important tips that save you time and heartache.
Get my tips on understanding closing costs in this video!
So what does the Federal Reserve have to do with interest rates? Alright, so you're sitting at home on your couch watching TV with a glass of your favorite Cabernet. All of a sudden, you see this breaking news bulletin scroll across the bottom of your screen. "Federal Reserve lowers interest rates to 0%." Now, put the glass of wine down before your get too excited. This news may not cover the cost of replacing the rug you may have ruined if you drop it.
Check out this video to find out how the Federal Reserve impacts mortgage rates!
So, when should you get a pre-approval? Shopping for a new home without a pre-approval is like going to the airport without any money, a plane ticket, and your passport. You are completely unprepared, and this could have been all avoided without any real inconvenience at all. So, if you're planning on purcahsing a new home in the next six to twelve months, it's probably a good idea to get pre-approved now. Most people wait until the last minute because they assume they're qualifed or they're misinformed about the pre-approval process. Here's when it's important to pay attention to the professionals and not hearsay, or other people's opinions.
Watch this video to find out when you should get pre-approved!
To be honest, most of my clients come to me by referral. When it comes to one of the biggest financial decisions of your life, you want to make sure other people have had the positive experience you’re hoping to have.
23 perfect five stars on Zillow
71 five stars on Facebook
"This is now the third time in eight years I have worked with Don. Every time is easier than the last if that was even possible."
“As first-time homebuyers, we were hesitant and questioning a few things, but Don was always available and willing to answer any questions we had.”
“He told me what I needed to do and told me if I did it I would be in a house in 8 months and he was absolutely right.”
"Don was always available when I had questions or doubts, was completely transparent and helped me make some very smart financial decisions."
“As first-time homebuyers, Donald and his team made the process smooth, easy and fast! Always available to ask questions, even after work hours!”
Renata Clasadonte Iannitelli
“His honesty, consistent follow-up and advice were invaluable in our process and made us feel comfortable trusting this major milestone in his hands.”
“He was clear and transparent in his every move and it was a fairly smooth process. He even sent a lovely housewarming gift that we adore. ”
“The process was seamless and Don was available to answer all of our questions timely and thoroughly. ”
"Don helped us buy and refinance our first house and was an invaluable asset as we navigated those complicated waters for the first time."