Skip the Rent, Buy a House

You know you've made it in life, when you can purchase a house and be confident that you can make payments every month. This is, after all, ultimately better than paying rent because when you simply rent, an angry landlord can make you homeless in a snap of a finger. This is why you should greatly consider buying your own home, even if you have to take a loan for it.

The country's economy is one built on credit, where people drive cars and live in homes that they don't technically own yet. There is nothing wrong with this, and as long as you work hard, you will eventually be able to pay off a loan and legitimately be a property owner. It takes time, but when you play your cards right, you can look forward to your own happy ending.

When you have your own house, you can say goodbye to irresponsible and horrible landlords and ladies. When you have your own house, you can sleep at night without worrying that a neighbor's dog will pee in your hallway. When you have your own home, you can rest easy knowing that you have a good environment you can raise your children in.

Being a homeowner is a good life; it's getting there that's the tough part. Still, if you choose the right lender who understands the woes of the common man, you'll definitely get there sooner or later.

Paperless Mortgage: The Future of Utah Home Loans?

Freddie Mac says that a person applying for mortgage signs at least nine documents, which automatically amounts to a heap of pages. Mortgage has been like this ever since it was conceived, but that's about to change soon. Since its introduction more than a year ago, paperless mortgage has become a blessing to would-be applicants. Every document necessary is stored in a thumb drive for the mortgage holder to take home and review.

Although paperless mortgage is still a minor trend (where less than a tenth of lenders have it), many in Utah have since benefited from it. The digital signature in every document, which can be done once instead of multiple times, verifies their authenticity and legality. Meetings with mortgage lenders are cut short due to the quick and easy process. However, paperless mortgage faces the challenge of security, now that the documents aren't totally “in writing.”

Furthermore, experts claim that notarization is what's keeping paperless mortgage technology from truly taking off. Under federal law, mortgage documents must be signed in the presence of a notarized witness. As the short meeting is usually done by phone or online, some raise concerns on how safe the system is for future use. Many people aren't complaining about having too many papers to sign; but signing page after page may leave their hands numb.

How Mortgage Brokers Help First-time Home-buyers

With the Utah housing market on an upward trend, now is a good time to start hunting for mortgages with good rates. Several banks offer competitive rates on mortgages, as do several mortgage institutions that let you apply directly. However, if this is your first time to apply, it is best to consider getting help from mortgage brokers.

Mortgage brokers know much about the mortgage industry, and they can guide you to the financial institutions that are offering special rates, discounts, and deals that are not offered on the open market. They know exactly which mortgage product will work best for you in spite of your financial situation. If you have a low credit rating and apply for a loan directly from a bank, it will be challenging to get approved for a mortgage. Fortunately, mortgage brokers can help you find ways.

Applying for a mortgage also involves a lot of paperwork, something you may not be prepared to handle as a first-time home-buyer. Thankfully, mortgage brokers can step in and handle all the paperwork for you, including the negotiations with the lenders. If you decide to employ the services of a mortgage broker, make sure that you both agree on the amount you have to pay as broker's fee. 

Buying Your Dream House Sans Nightmares

Owning a house is still an American dream despite the state of the national economy. A house symbolizes the stability and security that many people aspire for throughout their lives. For them, nothing comes quite close to the feeling of fulfillment that they experience in having a house they can call their own.

However, like most everything else in this world, nothing comes free. You can't have your dream house if you don't have the financial capability—and that requires a lot of moolah. Fortunately, you can borrow the resources to make your dream come true. There are enough reputable companies that are willing to lend you the money to buy the house you've been hoping for.

Although you can borrow money to buy a house, you also have to pay for it. Hence, make sure that you can afford the monthly installment throughout the period of the loan. Otherwise, you might be enjoying your house for only a few months or years. If forced to give it up, you'd have wasted the investment you've initially made.

Buying your dream house can be very fulfilling, but it can also prove to be a disappointment later. Avoid making it into a nightmare by securing no more than a reasonable home mortgage.