Edgar Ferreras, Mortgage Banker, Total Mortgage, NMLS# 2356101

02/16/2023

This week's mortgage term is all about home appraisals! A home appraisal is a crucial step in the mortgage process, determining a property's value. Get in touch with me for more information!

02/16/2023

The National Association of Realtors (NAR) found that the average down payment for first-time homebuyers is 6%, while repeat buyers put down an average of 17%. Start planning for your next home purchase now!

02/10/2023

According to the National Association of Realtors, 96% of homebuyers use online resources during their home search. Sometimes, those online calculators autofill information that aren't consistent with your particular set of circumstance. Not to worry, though! We've got you covered! We're here to guide you through the process! Visit our website or send us a message for more information.

02/10/2023

It's not just about the house... It's also about the neighborhood! The NAR reports that 49% of homebuyers prioritize community when making a purchase.

02/10/2023

APR plays a crucial role in the mortgage process. It's the true cost of borrowing and includes more than just the interest rate. Make sure you understand it before making your next mortgage move!

02/01/2023

Don't let renting hold you back. Owning a home can be more affordable than you think, and the benefits of building equity and creating a sense of community are priceless. If you want to explore your options and see what makes sense for your specific set of circumstances, feel free to reach out to me! My team and I are here to help you figure out just that.

02/01/2023

In many cases, buying a home has significant advantages over renting one. Homeownership gives you the freedom to make changes and truly make it your own. Plus, you'll be building equity and potentially benefiting from tax breaks.

12/29/2022

First-time buyer? Read these rapid-fire tips that'll help with your first purchase:

-Keep your credit score in check
-Get PRE-APPROVED
-Save, save, save
-Only look at what you can afford

Now let's look at some of the most common mistakes made by new homebuyers. If you need any help during your home search, get in touch! I'm happy to educate and walk new borrowers through every step of the process.

12/08/2022

The FHA recently announced brand new loan limits for 2023! Depending on your location and property size, you could get anywhere between $472,030 and $2,095,200 toward your next home financing project.

Remember: these new limits vary by location and county. DM me if you'd like to discuss your exact options.

12/06/2022

Make sure you follow these guidelines! They are crucial to ensuring a smooth mortgage process.

12/06/2022

Making a down payment is a crucial part of the mortgage process that every borrower should be prepared for. Take five minutes to read through this blog and learn more about what a down payment is, how it factors into your mortgage, and more.

Before deciding to purchase a house, you need to know what a down payment is and how much you need to put down on a house. This article explains everything you need to know about down payment options.

12/05/2022

Buying a house with student loans can be a challenge, but it doesn’t mean it’s impossible. Having student loan debt increases your debt-to-income (DTI) ratio and can hurt your credit score, which lenders classify as being at a greater risk of loan default.

However, there are steps you can take to improve your financial health and your ability to qualify for a mortgage.

If you’re thinking of buying a house with student loans, then here’s how it can affect your ability to get a mortgage and ways to minimize its impact.