To buy a second home and to make your primary home a rental space is a great idea. This is because you can have an extra source of monthly income that can cover or offset your mortgage payment. And that this strategy makes the homeownership process less expensive and easier than getting a new investment […]
Make Your Primary Home a Rental Space and Buy a New Home Read More »
Budgeting for closing costs becomes necessary after purchasing a home. These expenses and fees are part of securing a home loan and are commonly referred to as mortgage closing costs. It’s important to note that closing costs go beyond the down payment. That is typically ranging from three to five percent of the loan amount.
All you Need to Know About Home Loan Closing Costs & Fees | Detailed Guide |EZ Fundings Read More »
Most people use the terms preapproval and prequalification interchangeably. But actually, they are pretty different. And that is precisely what we’ll focus on in today’s blog post. Through here, let us help you understand the difference between the two. After that, you can take the steps towards homeownership confidently. What is Prequalification? Prequalification is an
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With a conventional mortgage, you also have to buy private mortgage insurance (PMI), especially if you make a payment of less than 20 percent. For example, if you purchase a home for $400,000, you will have to make a down payment of $80,000 if you wish to avoid PMI. On the other hand, if you
How to Remove Mortgage Insurance? – EZ Fundings Home Loans Read More »
