sarah schiess

What is mortgage default insurance?

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 […]

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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 […]

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Can I include the cost of improvements in my mortgage?

Yes, you can! ๐Ÿ™‚ Here’s some information on the purchase plus improvements mortgage. Get ready, it’s a long one ๐Ÿ™‚ 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. […]

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Can we use disability income to qualify?

We sure can! As long asย  your disability income is: long term being paid out indefinitely guaranteed then we’re in business ๐Ÿ™‚ย  If it’s short term, or has an end date, then we’re not able to use it to help you qualify.

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Mortgage calculator

Hey kids, Take a quick look at that little gadget above. Did you notice anything? Look closer. Okay, weโ€™ll tell you: itโ€™s a payment genie. Our lawyers made us call it a โ€œmortgage calculator,โ€ but it actually works like a genie. Go ahead, give it a try. Step #1: enter your numbers. Step #2: gently […]

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