Purchase Archives - South Park Mortgage, LLP

In the mortgage business, the term “Safe Harbor” typically refers to a legal provision designed to protect lenders from certain liabilities, particularly with respect to compliance with mortgage lending laws and regulations. Safe Harbor provisions offer lenders a degree of legal protection if they adhere to specific rules and requirements when originating mortgage loans. These…

Embarking on the journey of homeownership is an exciting and often life-changing experience. However, before you can unpack your boxes in your dream home, you face a significant decision: Should you shop for a mortgage first or dive into the housing market headfirst? It’s a classic chicken or the egg dilemma in the world of…

As your dedicated mortgage broker, we are committed to helping you navigate the intricate landscape of mortgage programs, making your homeownership dreams a reality. Among the myriad of options available, there are several standout programs designed to suit diverse needs. In this comprehensive guide, we’ll shed light on some of the most popular mortgage programs,…

As a trusted mortgage broker, one of the questions we frequently address is, “How much should you put down on a house?” The answer isn’t uniform; it hinges on your unique financial objectives and current circumstances. While a larger down payment offers advantages, committing too much can leave you financially constrained after your move. In…

When considering buying a home, one of the first questions that comes to mind is, “How much house can I afford?” To answer that question, you need to take several key factors into account. These factors include your household income, your monthly debts (such as car loans and student loan payments), and the amount of…

Your credit score is a crucial financial indicator that affects your ability to secure loans, credit cards, and even rent an apartment. Lenders and creditors use this score to evaluate your creditworthiness. To maintain a healthy financial profile, it’s essential to understand the five key factors that influence your credit score and how they can…

Preparing your home for an appraiser visit can help ensure that the appraisal accurately reflects its value. Here are some tips on how to best prepare your home for the appraiser: Clean and Declutter: Start by thoroughly cleaning your home, including all rooms, floors, and surfaces. Declutter by removing unnecessary items, personal belongings, and excess…

When it comes to buying or selling a home, the appraisal process plays a crucial role in determining its fair market value. Appraisers are trained professionals who assess various factors to arrive at an accurate valuation. Understanding what appraisers look for can help homeowners and buyers prepare for this essential step in the real estate…

When it comes to buying or refinancing a home, an appraisal is a crucial step in the process. Appraisers play a pivotal role in determining the value of a property, influencing the outcome of the transaction. In this blog post, we’ll provide insight into what appraisers look for when evaluating a house and how their…

When it comes to buying a home, there are numerous terms and clauses that can seem overwhelming. One of the essential aspects of a home purchase is the appraisal contingency. In this blog post, we’ll break down what an appraisal contingency is, why it matters, and how it can impact your real estate transaction. Understanding…