Loan Commitment Letter vs Pre-Approval Letter

Loan Commitment Letter vs Pre-Approval Letter

In competitive buyer’s markets where houses for sale are few and far between and homes for sale typically receive multiple offers, buyer’s need to position their offers with as much strength as possible. This may include offering fast closing dates, making offers...
What is a Loan Commitment Letter?

What is a Loan Commitment Letter?

A Loan Commitment Letter, also known as a Mortgage Commitment Letter or Mortgage Loan Commitment Letter is a written and signed document from the lender or mortgage company that states the listed borrowers have been approved for the loan by an underwriter. That’s the...
What is a Loan Payoff Letter?

What is a Loan Payoff Letter?

Have you ever sent a loan payment intending to pay off your credit card balance in full only to get a notice the next month saying that there is still a balance due? This typically happens because your monthly statement does not reflect interest that is accruing from...
Do I Need a Survey When Buying a Property?

Do I Need a Survey When Buying a Property?

A property survey is a precise measurement and delineation of the size, shape, and boundaries of a property. Typically performed by trained and certified Surveyors, property surveys serve to create an official record of property lines, easements, and land placement....
Loan Officers, Underwriters, and Mortgage Brokers – Who’s Who?

Loan Officers, Underwriters, and Mortgage Brokers – Who’s Who?

The world of real estate has a lot different types of professionals. If you are buying or selling a home, you will likely use the services of dozens of service providers, whether you realize or or not! An area that can get a little confusing involves the professionals...
How School Zones Affect Home Buying

How School Zones Affect Home Buying

When reading home listings online, you often see mention of school zones and access to quality schools. In general, parents want to live in neighborhoods that allow their children to attend the best schools. However, schools zone impact far more buyer decisions than...