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4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Louisiana, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, Should I Rent or Buy?

4 Reasons You Don’t Want to Pay PMI

Years ago, a 20% down payment was a requirement for obtaining a mortgage loan. Putting that much money down made it less likely that borrowers would simply default on their home loans and gave lenders a measure of security and collateral in the case of foreclosure. However, in more recent years, lenders have gotten much more creative in financing to help more Americans become homeowners. There are now mortgage loans that require as little as 3% down up front. In order to compensate for that added risk of loss, lenders require and borrowers with a down payment of less than 20% to pay for pri...

June 7th, 2018 | First-time Homebuyers, 4 Reasons You Don’t Want to Pay PMI

3 Quick Tips for A Mortgage Down Payment (No Matter Your Age!)

Congratulations: You’ve done the research and made the decision to begin your grown-up life in a new place; your own place.You’ve got your credit, finances and life plans in order, and are about to embark upon a massive hunt for the perfect house.But before you can actually take one of the most important steps toward adulthood, guess what: you’ve got to pony up thousands – if not tens of thousands – for a down payment.The prospect of such an enormous financial investment can be just enough to turn off some from pursuing home purchasing altogether.If you are just s...

February 26th, 2016 3 Quick Tips for A Mortgage Down Payment (No Matter Your Age!)

The Previously-Unwritten Manual to First-Time Home Buying

There are first times for everything. The first time you walked; the first time you rode your bike without falling; your first day of school; your first homework assignment; all up until your first real job.There are firsts to buying a home, too. And it’s a pretty big first: Home buying is one of the most significant financial commitments you’ll make in your adult life.Here’s the quick-start guide to become a smart, informed first-time home buyer. With this guide, your first experience buying a home will go better than some of those disastrous other first times in your life &...

January 28th, 2016 The Previously-Unwritten Manual to First-Time Home Buying

Navigate a Slow Mortgage As a Champ – Not a Victim

For a typical mortgage, it takes about a month to close. Unfortunately, that’s just the expected timeframe – for some closings, it could take longer. Maybe even much longer. In most instances, the reason for a closing delay isn’t necessarily the fault of the prospective home-owner. This lack of control can be frustrating, especially for those who are active problem-solvers. In the event of a delay on your closing, don’t be a victim to the situation. Here are some ways to stay stress-free. Handling the stress If you’re like us, time is of the essenc...

December 28th, 2015 Navigate a Slow Mortgage As a Champ – Not a Victim

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Ace Mortgage Company

711 River Highlands Blvd.
Covington, Louisiana 70433
Phone: 985-888-1660
Fax: 985-888-1665
Email: phil@acemortgagela.com
NMLS: 49604

 
 

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