With its historic towns, vibrant cities, and diverse regions, Connecticut offers a variety of options in its real estate market. And like any other place, Connecticut’s real estate market is heavily influenced by mortgage rates. Mortgage rates fluctuate over time because of various economic factors and can greatly impact your monthly payments, total loan amount, and more. With that in mind, it’s important to always do your research before taking the plunge into homeownership. In this article, we’ll cover Connecticut mortgage rates, the benefit of free mortgage calculators, and more. Exploring ..read more

Buying a house after a divorce is a big step toward a new beginning. However, divorce has a direct impact on every aspect of your life, and you’ll need to make sure you’re ready before committing yourself to a new mortgage. Before you start mortgage shopping, here’s what you can expect to face if you’re buying a house after divorce. Buying a House After Divorce Getting a divorce, splitting up assets, and finding a new place to live can get complicated and expensive. Before buying a house after divorce, you should weigh your options and ensure you’re in a good financial situation before making ..read more

If you’re looking to start your homebuying journey, you may be wondering how different loan products compare and which one is right for you. Two of your most popular options will likely be an FHA (Federal Housing Administration) loan or a conventional mortgage. In this article, you’ll learn everything you need to know about FHA and conventional loans. Continue reading to understand how they differ, what their benefits are, and how you can get started today. How are FHA and Conventional Mortgage Loans Different? FHA and conventional mortgage loans have big differences that every borrower shoul ..read more

If you have a primary residence, you might consider buying a second home as a vacation spot or an investment property. This can be a place to relax with your family, plus you can generate passive income for a variety of purposes—save for retirement, pay off debt or create a rainy day fund. Even if you like the idea of a second property, there’s a question to consider: do you buy a condo or a house? Truthfully, either type of property can work as a second home. Here’s a rundown of the pros and cons of both to help you decide the best property given your needs and preferences. Pros of buying a h ..read more

As-is sales are becoming increasingly popular in the real estate market – but are there any risks involved? In this article, we’ll delve into the topic of as-is sales and explain the risks, benefits, and more associated with this type of transaction. What is an As-Is Sale? An as-is sale refers to a real estate transaction in which the buyer agrees to purchase a property in its current, “as-is” condition. This means that the seller is not obligated to disclose any issues or make repairs to the property before the sale. On the other hand, the responsibility falls on the buyer for any repairs or ..read more

As you start the process of buying a home, you may be wondering how long everything takes. Specifically, you may be curious about how long the home loan approval process takes. Don’t worry, we’ve got you covered. In this article, we’re going to highlight how long it takes to get approved for a home loan and what you’ll need before starting the process. The Home Loan Approval Process The average time it takes to close on a home in the US is 51 days. However, that time doesn’t reflect how long it takes to get approved for a home loan – and with Total Mortgage’s GreenLight program, you can close ..read more

Your debt-to-income ratio, or DTI, signals your ability to repay a loan to your lender. A higher DTI means you carry too much debt compared to your monthly income, which could pose a greater risk to your lender.  By calculating your debt-to-income ratio, you can take the necessary steps to lower your DTI and get a better interest rate.  Here’s what you need to know about debt-to-income ratios, how to calculate DTI, and how it can impact your ability to qualify for a loan.  What Is Debt-to-Income Ratio? Your debt-to-income (DTI) ratio is the percentage of your gross monthly incom ..read more

When it comes to real estate transactions, there can be many unknowns for both the buyer and the seller. The solution? Home inspections. Home inspections are popular in real estate because they uncover and resolve property issues prior to the final sale. For buyers, knowing about any structural issues in advance is a huge advantage that can make or break a deal – and in 2022, 88 percent of successful buyers saw the benefits. Still, home inspections offer advantages for buyers and sellers. In this article, we’ll cover what a home inspection is, how to get one, and how it can benefit all pa ..read more

Inheriting a house with siblings may seem like a blessing, but it can quickly lead to financial and emotional stress. Unless the will indicates otherwise, inheriting a house with siblings means that each person owns an equal share of the property. If the other heirs want a payout, however, it could be a good idea to refinance an inherited property. While you and your siblings can continue to share ownership of the inherited house, refinancing is another option worth considering.  Follow this guide on how to refinance an inherited property to buy out heirs.     Wha ..read more

With today’s competitive market moving faster than ever, it can be easy to fall in love with a home too fast or cut corners in favor of a better offer. Our advice? Don’t. Before you close the deal, make sure everything is in check – and especially be aware of your home inspection contingency clause. There are many variables and clauses included with your purchase agreement, but one of the most critical is the home inspection contingency clause. In this article, we’ll cover what inspection contingency is, the risks involved with not having it, how to properly schedule a home inspection and more ..read more