This is insurance that the lender takes out on you in case you don’t pay your mortgage and they have to come and take your house away. This is called a foreclosure. If they have to foreclose on you and they lose money, then they will go to the insurer and make a claim. If […]
All posts by sarah sloane
What is included in closing costs?
The term “closing costs” refers to the money that you need (over and above your down payment) in order to complete your purchase. Closing costs may include, but are not limited to, the following: legal fees cost of land transfer to new owner registration of the mortgage on the title title searches property tax searches […]
I’m feeling stressed out, man. What can I do?
Need a break? Take a two minute mini-mint vacation 🙂 Press play, go full screen, sit back, relax and let your mind rest for 120 seconds. mini mint vacation from mintmortgage on Vimeo.
Can I include the cost of improvements in my mortgage?
Yes, you can! 🙂 Here’s some information on the purchase plus improvements mortgage. Get ready, it’s a long one 🙂 you can generally take up to 10% of the purchase price to use toward improvements to the property. For example, if the property costs $300,000 then you can include up to $30,000 worth of improvements. […]
Can I send pictures of my documents in?
You sure can! See the pictures I took below for some pointers 🙂 Even though Star Wars is super cool, try not to make your documents look like the opening storyline.
Can we use disability income to qualify?
We sure can! As long as your disability income is: long term being paid out indefinitely guaranteed then we’re in business 🙂 If it’s short term, or has an end date, then we’re not able to use it to help you qualify.
Hey kids, Take a quick look at that little gadget above. Did you notice anything? Look closer. Okay, we’ll tell you: it’s a payment genie. Our lawyers made us call it a “mortgage calculator,” but it actually works like a genie. Go ahead, give it a try. Step #1: enter your numbers. Step #2: gently […]
How important is my credit score?
It’s pretty important. It can make, or break, your approval and may determine the rate you pay on your mortgage.
If I have 20% down, can I avoid paying the mortgage default insurance premium?
In most cases, the answer is no – you won’t. Sometimes though, even with 20% or more down, lenders may still want the mortgage to be insured. Some reasons would include: location of the property (ie. remote area) size of the property (ie. small square footage) property does not conform to the area (ie. large, […]
Can I apply for a mortgage before I find a house?
Yes! You can…and you should 🙂 Click here to get started on your adventure 😉