At American Pacific Mortgage, we know that it’s not what you say, but what you do that is important. We serve, because we love our communities– and that’s the reason we founded APMCares.
Our mission is to serve the needs of individuals, families, and communities where we live and work. Encouraging and inspiring our core belief that people matter.
As you get ready to apply for your home loan, you may be wondering about mortgage interest rates. The interest rate you get on your home loan will differ according to current rates, loan types, loan terms, credit rating, and will determine your monthly payment on the loan. At some point during your home loan process you will need to lock in your interest rate.
As Winter comes to a close, new home listings begin to flood the market. According to Zillow, most home listings come onto the market in April and May. The good news is that Spring brings many choices for buying a home! But Spring also brings a lot of competition, so you might want to consider preparing ahead of time. It’s never too early to get ready for your homeownership journey.
Is this the year you’ll finally buy that dream home? Have you been wondering whether you should wait until later in the year to start your homeownership journey?
Buying a home involves more than just looking at houses that fit your wish list. There’s the loan process to think about as well. As part of that process, you know that there will be a loan application to complete, but do you know what information lenders are looking for on that application? You might be surprised.
The Tax Cuts and Jobs Act was signed into law in December, 2017. This new bill amends the Internal Revenue Code to reduce tax rates and modify policies, credits, and deductions for individuals as well as businesses. Some of the changes have already taken place and will continue through 2018. As a homeowner or home buyer, here is what you can expect from the bill and ways it may impact you.
Getting to ready to buy your first home is an exciting time and can feel overwhelming when you try to think through all of the steps to take. APM is here to help! We’ve taken all the steps to buying your first home and broken them down to make it simple for you. Our First Time Homebuyers Checklist is an easy-to-follow workbook that takes you through the homebuying process from checking on your credit all the way to purchasing your dream home.
Being self-employed or owning your own business can be an exciting adventure that comes with many benefits. That’s why so many people have chosen to head down the path of self-employment. According to the Bureau of Labor Statistics, roughly 10% of U.S. workers are self-employed. But along with the benefits and the satisfaction of working for yourself come a few hurdles.
We hear about identity theft almost daily now, sometimes from data breaches and sometimes from individual thefts. The biggest data breach in 2017 was the Equifax data breach, affecting millions of consumers. During the breach that lasted from mid-May through July, hackers accessed names, social security numbers, birthdates, and addresses as well as hundreds of thousands of credit card numbers. With this type of information hackers can easily take out loans your name, empty your bank accounts, and rack up credit card debt - all of which can negatively impact your credit score.
The Federal Housing Finance Agency (FHFA) recently announced that conforming loan limits will be increased for the second straight year. The first 2017 increase was the first increase since 2006. But why does the increase in loan limits matter to you as a potential home buyer? It means that even with rising home prices, there still may be affordable loan options for you!
Maybe you’ve been dreaming about becoming a homeowner, but news about competitive real estate markets has made you nervous. According to Redfin’s recent report, the number of homes for sale has dropped significantly, leading to low inventory and increasing prices. This has created a market where buyers may have to compete for available homes. You’re wondering - do you have a chance of buying a home or should you wait?
You finally own that home you always wanted. You’re benefiting from the financial perks, but with a new home comes a new monthly mortgage payment … and perhaps a new interest rate to consider.
You may not know this, but at the beginning of your mortgage, a lot of that monthly mortgage payment goes toward interest. That’s because your loan balance is still at or near the original amount you borrowed, since you’ve just started paying it off.
You’re about to take that leap into the world of homebuying, but you’ve discovered the housing inventory in your area is currently low. That means the market is competitive. Don’t let that intimidate you! You should still be able to find a great home for your family - you just need a few tips to navigate this competitive market as a first-time homebuyer.
There are a number of financial perks and tax breaks when you purchase a home. It’s no longer uncommon for house payments in many areas to be lower than monthly rental costs. Sometimes the benefits can be a little harder to measure, such as taking a tax deduction for utilizing a portion of your home as a home office. It is always best to consult with your tax advisor, but generally speaking, here is a list of common financial perks for first-time homebuyers:
You’re getting ready to purchase that home you found in the perfect neighborhood. But what happens between the time your offer gets approved and the keys are handed to you? If you have never purchased a home, the home loan closing process may seem like a bit of a mystery and an overwhelming number of steps to complete. We’re here to walk you through the process so you know what to expect and are prepared for what’s to come next.
Have you been dreaming about homeownership? Maybe now is the time to join the world of homebuyers! We can help you decide if buying a home now is an option for you with tips for first-time home buyers, helpful programs and resources, and more. Here’s what else you need to know in order to take that first step in your home-buying journey:
You decide to start the process of purchasing your dream home but suddenly realize that you are going to run into issues when you have to prove your income level. Maybe you’ve had problems getting a loan in the past due to unsteady income. You have a high level of assets, but can’t show a consistent monthly paycheck, so what can you do? Thankfully there are high asset home loans that can open the door to your homeownership dream! American Pacific Mortgage offers an Asset Inclusion Loan Program that might be an option for you.
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