IntroductionWhen buying a home, two critical steps in the mortgage process are the home appraisal and inspection. While they may seem similar, they serve different
Prakash Singh is a licensed mortgage broker and real estate professional in Minnesota with over a decade of experience in helping first-time homebuyers, investors, and
A down payment is the upfront amount you pay toward the purchase price of your home, and it plays a key role in determining your mortgage terms.
Buying a home is an exciting journey, but securing a mortgage can feel overwhelming, especially if you’re unsure about the required paperwork and the process itself. Understanding the mortgage application process can help you prepare effectively and avoid delays.
Determining an affordable mortgage payment can be tricky, but with the right tools and a bit of planning, you can confidently navigate the numbers.
When it comes to applying for a mortgage, one of the first things lenders will look at is your credit score. This seemingly small number can have a big impact on your ability to secure a mortgage—and the terms you’ll receive.
If you’re shopping for a mortgage in Minnesota, understanding the difference between your interest rate and Annual Percentage Rate (APR) could save you thousands of dollars. Whether you’re eyeing a downtown Minneapolis loft or a cozy cabin near Brainerd, this guide will explain why APR matters, how Minnesota-specific fees impact your loan, and actionable tips to compare lenders like a pro.
When you’re buying a home in Minnesota—whether it’s a lakeside retreat in Brainerd or a suburban townhome in Eden Prairie—the Loan Estimate (LE) is your roadmap to understanding mortgage costs. This 3-page document, provided by lenders within 3 days of your application, breaks down your loan terms, interest rates, and closing costs. In this guide, we’ll explain how to decode the LE, compare offers, and avoid surprises at closing.
your Debt-to-Income Ratio (DTI) is one of the most critical numbers lenders evaluate. Whether you’re eyeing a cozy cabin in Duluth or a modern condo in Minneapolis, understanding DTI can mean the difference between mortgage approval and rejection. In this guide, we’ll break down what DTI means, how to calculate it, and Minnesota-specific tips to optimize your finances.
January’s inflation data came in hotter than expected, pushing the 10-year Treasury yield up by 0.097 percentage points to 4.633%—the biggest one-day jump since mid-December, according to Dow Jones Market Data. Since mortgage rates closely follow Treasury yields, this spike suggests that borrowing costs are about to rise even further.
Tips for New Homeowners Prakash Singh – Real Estate Expert (Realtor and Mortgage Lender) Congratulations,
The closing process is the final step in your home-buying journey, where ownership of the property is officially transferred to you. While it’s an exciting milestone, it can also be overwhelming if you’re unprepared.
IntroductionWhen buying a home, two critical steps in the mortgage process are the home appraisal
Prakash Singh is a licensed mortgage broker and real estate professional in Minnesota with over
