How Much Does It Cost To Buy A House In 2023? The median single-family sale price in the U.S. in May of 2023 was $401,100, according to the National Association of REALTOR. While this number is a helpful reference for home buyers planning to buy a house in 2023, the cost to buy a house […]

What Is A Mortgage Pre Approval? Mortgage pre-approval is the process of determining how much money you can borrow to buy a home. During the mortgage pre approval process, lenders like The Lending Mamba look at your income, assets and credit score. This information determines what loans you could be approved for, how much you […]

As you prepare to apply for a mortgage, you’ll come across terms like “prequalification” and “preapproval.” It’s essential to understand what these terms mean – they’ll guide your home search and help you focus on homes you can afford. When the time comes, they can also help you decide how much to offer and show […]

1. Refinance With A Lower Interest Rate A lower interest rate can mean big savings. For example, on a $200,000 30-year-fixed loan, reducing the interest rate 1% can mean a monthly savings of almost $120. If you’re looking to lower your mortgage payment, keep an eye on the market. Look for rates that are lower […]

Buying a house is a bit like choosing a spouse. If you’ve chosen well, it can be a match made in heaven. But if you’ve gotten carried away on a romantic whim or have been oversold on the benefits of the match, unhappiness can ensue. The expressions “house poor” and “house broke” refer to the […]

Looking to make some major home improvements? Consider a cash-out refinance. Refinancing is a low-interest way to get tax-free cash for remodelling your kitchen, finishing your basement or anything you choose. Let’s look at how cash-out refinancing works, and what you need to know about using cash from your home for repairs and renovations. Refinance […]

When you’re ready to buy a home, you’ll be entering a process that you may have only been vaguely aware of previously. You may have known that interest rates were at historic lows just a few years ago, but you weren’t ready to buy a house then. Now that you are, rates are changing and […]

If you’re new to the world of buying real estate, you’ll quickly discover that you have lots of choices when it comes to selecting the right lender, as well as selecting the right loan. One particular option you’ll need to weigh before buying a home is whether a 15-year or 30-year mortgage makes the most […]

If you’re new to the home buying game, you’re probably astonished at the amount of new lingo you need to learn. Do you want a fixed-rate or an adjustable-rate mortgage? And once you’ve figured that out, you need to determine what term works best for you. Is it 15 or 30 years or somewhere in […]

Getting your first mortgage loan is always exciting, but it can sometimes feel a little overwhelming, too. You’ll supply a good bit of paperwork. Your lender will check your credit. And you may need to save up for a down payment and closing costs. But one item you shouldn’t stress about is whether you can […]