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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

A Deep Dive into Escrows Accounts

If you’re just starting to learn about mortgages, you may have heard a term called “escrow” and been confused by what it means. Luckily, we’re here to help. An escrow account is a payment plan that sets aside each month the money that you’ll need at the end of the year for property taxes and home insurance. An escrow account essentially increases your monthly home payments. So, you may be thinking– why would this be helpful for homeowners? Here are a couple reasons why: Draft a better budget An escrow allows you to better gauge all the exp...

November 24th, 2015 A Deep Dive into Escrows Accounts

Guide to Using the VA Loan to Score a No-Down-Payment Home

If you’re currently serving or have served in the U.S. military – or you spouse did – you may be eligible for a special home loan program that can save you thousands of dollars. Insured by the Department of Veterans Affairs, a VA home loan functions like other loans but with additional flexibility and privileges. Read on to find out more about VA loans – and if you’re eligible. Am I eligible? Started in 1944, the Department of Veterans Affairs established a loan program to help vets returning home from World War II to begin the rest of their lives. The...

November 2nd, 2015 Guide to Using the VA Loan to Score a No-Down-Payment Home

Ace Mortgage Company

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