First Time Homebuyers Archives - South Park Mortgage, LLP

As a first-time homebuyer, navigating the world of mortgages can be overwhelming. You’ve probably heard about traditional mortgages, but have you ever come across the term “chattel mortgage”? In this blog post, we will helpyou understand what a chattel mortgage is and explore the key differences between a chattel mortgage and a traditional mortgage. Understanding…

Mortgage rates change daily, and sometimes multiple times per day. In this article, “mortgage rates” will refer to the combination of upfront cost and actual interest rate. The 2 Components of Mortgage Rates. For example, if we talk about “higher rates,” it could either mean that the interest rate is higher, or simply that the…

Purchasing your first home is an exciting and significant milestone in your life. As you embark on this journey, you’ll encounter various terms and documents that might be unfamiliar to you. One such document is the “Abstract of Title.” While it may sound complex, it is essential for you, as a first-time home buyer, to…

Congratulations, first-time home buyers! You’ve embarked on an exciting journey towards homeownership. As you near the end of this process, it’s crucial to understand the closing process thoroughly. Closing is the final step where all the necessary paperwork and financial transactions take place to officially transfer the ownership of the property to you. To make…

Congratulations! You’ve taken the exciting step of becoming a first-time homebuyer. While the journey towards homeownership can be exhilarating, it’s important to be well-informed about the appraisal process—the crucial step that helps determine the fair market value of the property you intend to purchase. In this blog post, we’ll walk you through what to expect…

Are you ready to embark on one of life’s most significant milestones as a first-time homebuyer? The prospect of owning your own home can be exhilarating, but it can also seem daunting with the numerous steps involved in the purchase process. Fear not! In this comprehensive guide, we will walk you through the homebuying journey…

Income No matter what the state of the housing market, having a steady and sufficient income is essential to buying your first home. You will need 2 years of steady income from the same industry. If you have been in school for a professional career, your schooling could could as time in the career…

Once you’ve decided you want to become a homeowner you may not know what step to take next. Should you hire a real estate agent? Should you find a lender? Should you start searching real estate listings on your own? Here’s a look at the typical home buying process to know if you are ready…

Purcahse season is here! Here are 6 major mortgage mildstones to accomplish to make sure you are ready when you find your dream home. Get Pre-approved In competitive markets like today with limited inventory, sellers will not even consider buyers that don’t have pre-approval for mortgage financing. It only takes a few minutes to fill out…