House to Home

What Makes Up A Mortgage Payment?

Posted by Kimberly Shane on 12/6/17 6:45 AM

What makes up a mortgage payment?

Your mortgage is likely one of the largest bills you pay or will be paying when it comes to your monthly expenses so it would only make sense to know what makes up that mortgage payment. As we review this, please keep in mind that everyone’s circumstances are different and the example we are going to look at is only to serve as an example and not necessarily the way your specific mortgage payment breaks down. That is why you get to work with a specific loan officer who can help answer questions that are specific to your circumstances. I digress. Let’s look at an example of a mortgage payment breakdown.

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Topics: Loans, Mortgage, Home Loans

20% Down Payment… Says Who?

Posted by Kimberly Shane on 6/6/17 6:30 PM

20% Down Payment… Says Who? 

In a world where we rely on credit to get what we want; having to save for a down payment on a home almost seems foreign. Especially when it comes to your first home, if someone tells you a 20% down payment is needed —they might as well be from another planet! You all, that is $40,000 on a $200,000 home; for that amount you could drive off the lot with a brand-new car and not owe another penny!

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Topics: Loans, Mortgage, Home Loans

Mortgage Math Explained

Posted by Morgan Saylor on 7/26/16 8:30 PM

If math frighten you, as it does many people, don’t let it deter you from the goal of home ownership.

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Topics: Loans, Mortgage, Home Loans, Home Buyer, how-to, down payment, home buying, mortgage math, monthly payment

Your Job, Your Mortgage

Posted by Morgan Saylor on 5/31/16 8:30 PM

Did you know your job has some bearing on your ability to be approved for a mortgage? Truth.

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Topics: Loans, Home Loans, employment

More Ways to Down Payment

Posted by Morgan Saylor on 5/11/16 7:30 PM

Coming up with a down payment for the home of your dreams might seem intangible, but luckily there are more ways than one to go about it.

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Topics: Loans, assistance, downpayment, downpayment assistance

Explanation Letter: Explained

Posted by Morgan Saylor on 5/4/16 8:30 PM

If you’ve begun the process as a first time homebuyer, at some point or another, you could be asked to provide a Letter of Explanation. If it sounds scary – know that it’s not.

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Topics: Loans, First Time Home Buyers, Home Loans, home buyers, letter of explanation

The Skinny on Student Loans

Posted by Morgan Saylor on 4/4/16 7:30 PM

Student loan debt is a hurdle facing many millennials as they become interested in becoming first-time homebuyers. But is it a hurdle that can’t be overcome? Here’s the skinny on student loan debt and mortgages.

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Topics: Loans, Mortgage, First Time Home Buyers, Credit, student loans, Home Buyer, reduce, DTI, debt

Refi Rate Eligibility Rises

Posted by Morgan Saylor on 3/7/16 8:30 PM

The beginning of 2016 ushered in a drop of interest rates, thereby increasing the number of people eligible for refinancing, according to the housingwire.com.

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Topics: Loans, Rates, Home, Homeowners, Refinance, refi

Taxes & Home Buying – All You Need to Know

Posted by Morgan Saylor on 2/23/16 4:00 PM

Just when you thought you had this tax thing down, you decided to look into buying a home! Whether or not you pay more in federal and state taxes could make a big difference in the amount of home loan you’ll be qualified for!

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Topics: Loans, Home, Money, income, taxes, Buying

Stockton Spotlight: Brittany

Posted by Amy Patterson on 5/4/15 1:56 PM

After four years of living in the same apartment, and shortly after welcoming their second child, Brittany and her husband knew that it was time to start thinking about purchasing a home. “We knew that we would not be able to stay in that space for much longer,” Brittany says. “We just had limited storage space…two bedrooms and one bath.” Her family was quickly outgrowing the space.

Brittany and her husband began their mortgage journey working with another lender, and made the switch to Stockton Mortgage after they heard about our Mortgage Credit Certificate (MCC) program.  

“I knew I would have to switch lenders and so I asked my realtor if he had heard anything about [the MCC] – he had not, but I had given him a list of the lending agencies and Stockton was on it and he knew Sherri Sampson.” Brittany says that her realtor assured her that while he did not know about the MCC program, Sherri Sampson would.

“She really seemed to know her stuff,” Brittany says, referring to Sherri. “I just felt more confident with her than the original person we were dealing with.”

“She very much walked us through the process – answered all of our questions.”

Before even officially switching to Stockton, Brittany says that Sherri was able to find an issue with the current asking price that would have caused Brittany and her family to lose money when purchasing the home. “She recommended to our realtor that we change what we were asking…she suggested that before we even switched to her officially.” Brittany says that at the time, she was very impressed with the suggestion, “[I thought] wow, that’s awesome.”

“And so we switched,” she says, “…we ended up not qualifying for the [MCC] credit at the end of everything, but I’m still glad we switched lenders...”

Brittany says that once her family started their home buying journey with Sherri, it was simple. “The whole process was pretty simple – it really wasn’t complicated.” While many who have gone through the mortgage process will list extensive paperwork and documentation as a large obstacle, Brittany says that, for her and her family, finding the area of town that would best suit them was the biggest obstacle. “Paperwork wise we really didn’t have any obstacles – which was nice.”

Brittany and her family are now living in their new home; they are working on organizing their new space, and painting their walls – for the first time. “For four years we just had white walls – it was actually really depressing. Now I look around and have color…it’s more cheerful.”

“It is nice knowing that I own it and it’s not somebody else’s walls or stuff.”

She says that she feels a sense of accomplishment now, “we’ve been getting our ducks in a row for the last five years, so it was nice to get to…what we were trying to accomplish. Not that our apartment wasn’t a home for our children, but, [our home is] a better home environment for our family.”

“We enjoyed the whole process.” Brittany says that, originally, she believed that it would be more stressful. “It was just pretty seamless.”

(Brittany and her family with their mortgage banker, Sherri Sampson)
Are you ready to become a First time homebuyer like Brittany? Download our First Time Homebuyer's Guide now to learn all of the steps and gain the confidence you need to purchase your first home. 
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Topics: Loans, Mortgage, First Time Home Buyers, Homeowners, Home Loans, Rent, Sales, Home Sales, Family, MCC, Mortgage Credit Certificate

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