Home Loans News, Tips & Fun - Home Loan Blogs | Nova Home Loan

Why Get pre-qualified First? 

It’s important to move quickly when you find the home of your dreams and having a pre-qualification from NOVA ® Home Loans will make you more competitive against buyers who have not been pre-qualified yet. So while others are fumbling with an offer, you can swoop in with a solid one backed by your pre-qualification from NOVA ® Home Loans.

Prepping for Tax season? 

Tax season is upon us! Here are a few mortgage and homeowner tax tips to keep in mind during filing.

First-Time Home Buying Tips

The home buying process for first-time home buyers doesn’t need to be scary. Allow NOVA ® Home Loans to be your trusted resource on your road to homeownership. If purchasing your first home is in your future, follow these tips for a successful lending experience:

Rent vs Own

Homeownership is one of the smartest ways to invest in your financial future, however the decision to purchase a home is a very personal one.  Choosing whether to rent or purchase a home will come down to your short/long term goals, career goals, personal finances and the current housing market.

 Integrated Mortgage Insurance ProgramSM (IMAGINSM)

 If you have ever been concerned about the monthly payment associated with the purchase or refinance of a home, then  IMAGIN might just be perfect for you. Imagine an opportunity to save money on your monthly mortgage payment by potentially eliminating the monthly mortgage insurance premium.

FHFA Increases Loan Limits for 2019

Great news!

The Federal Housing Finance Agency (FHFA) has increased their threshold on loans for 2019. The loan limit ceiling has increased to $484,350, an increase from $453,100 for Fannie Mae and Freddie Mac loans.

 6 ways to improve your credit score

Several factors go into a mortgage loan application and FICO scores make up a piece of that process. A subpar credit score may not necessarily hinder a borrower from buying a home but there are several things a borrower can do to achieve a desirable credit score. If a new home is in your future, here a few things you can do to give your credit score a boost. 

4 of the Most Popular Mortgage Options.

Having an understanding of the various mortgage loans available will help you when the time comes to purchase or refinance a home. Here is a simple breakdown of the 4 most popular mortgage options available.

Construction Loans: Build the home of your dreams.

If you have ever planned every aspect of your house and always dreamed of having a one of a kind home then a Construction Loan might be for you. Construction loans are what make home customization possible and allow the borrower the unique opportunity to be actively involved with the construction/ remodel of their home, from start to finish. Here are a few important details to remember before taking on a construction loan project.

Because five is just too many, we wanted to give our potential home buyers FOUR questions to ask themselves to discover if they are ready to buy a home! Purchasing or refinancing a home can be one of the biggest milestones in your life. At NOVA® Home Loans we want your home buying experience to be a smooth and effortless process. To ensure a successful transaction it’s important to evaluate your lifestyle. Do you have a good source of income? Do you have money for a down payment? If your answer to these questions is “I don’t know?” call or start your application with a NOVA® Home Loans Loan Officer today to find out if you are ready to buy or refinance your home!