5 Mistakes to Avoid When Purchasing a Home
Purchasing a home is a significant milestone that comes with its own set of challenges. Here are five common mistakes to avoid when buying a home: Not Getting Pre-Approved for a Mortgage: Before you start looking for a home, it’s crucial to know how much you can afford. Without a pre-approval, you might waste time […]
Intercoastal Mortgage Company, LLC Appoints Steve Trautwein as Director of Military Lending
Intercoastal Mortgage, LLC, one of the largest independently owned residential mortgage lending operations in the Mid-Atlantic Region, has named Steve Trautwein, Director of Military Lending. Trautwein, based in Northern Virginia, is a Brown University graduate with more than 35 years’ experience in the financial services industry. He will continue to originate loans and bring Intercoastal […]
Should You Use a 203(k) Loan to Renovate a Home?
If you’re thinking about either buying a fixer-upper or making significant renovations to your home, an FHA 203(k) loan might be a good funding option to consider. What Is an FHA 203(k) Loan? FHA 203(k) loans, also called renovation loans or mortgage rehab loans, cover both the cost of a home and the cost of […]
Mortgage Preapproval vs Prequalification: What’s the Difference?
If you’re starting to think about buying a home, you probably know that you’ll need to get prequalification or preapproval for a mortgage early in the process. These terms can be confusing since they’re often used interchangeably. However, they are different steps, so it’s useful to understand how each one works. There can also be […]
Best Mortgage Options for First Time Home Buyers
Are you ready to take the plunge and become a homeowner for the first time? Congratulations! Homeownership is a milestone that brings with it many rewards, both financial and personal. But before you can enjoy these benefits, there’s one more important step—finding the right mortgage loan. And with so many different mortgage options available, it […]
How Your Credit Score Can Affect Your Mortgage Rate
Financing is one of the most important factors to consider when purchasing a home. Knowing what your options are and understanding the terms of the loan can save you money in the long run. With a little research, you can ensure you’re getting the best mortgage rate for your situation. Here we will explore how […]
Fixed vs Adjustable-Rate Mortgage
If you are in the market to purchase a new home, you are also likely to be in the market for a new mortgage. Generally, mortgages are loans granted to purchase a home, with the house acting as the security. Depending on the terms of the mortgage, the lender will require the borrower to make […]
When Should You Refinance a Mortgage
Are you looking for an option to reduce the amount you pay on your mortgage each month? Refinancing a mortgage can be a great way to save money and lower your monthly payments. However, deciding to refinance a mortgage can be an intimidating process, especially if this is your first home. But timing is everything […]
