Hero Home Programs

The home appraisal is often seen as a major make-or-break moment in the homebuying process. But it’s not as stressful as you might think! In this article, we’ll break down what you need to know about the appraisal when buying a home, along with a common misconception regarding the factors that impact a home’s appraised

Whether you’re just getting started in the home purchase process, you’re right about to close on a home, or if you’ve already reached homeownership, it’s important for you to understand your Loan-To-Value (LTV) ratio and how it affects your finances. In this article, we’ll break down how to calculate your LTV, and how your LTV

For first time homebuyers, the terms “mortgage insurance” and “homeowners insurance” can get a little confusing.  Let’s break down what these terms mean, and what you need to know about the different types of insurance involved when purchasing your home. Key takeaways What is mortgage insurance?  How much does mortgage insurance cost? What’s the difference

The Loan Estimate and Closing Disclosures are forms that you’ll receive before closing on your home. The purpose of the Loan Estimate and Closing Disclosures is for you to “Know Before You Owe.” In other words, knowing all the fees and costs associated with your home purchase ahead of time before you commit to a

After completing the mortgage application, getting pre-approved for a home loan, and finding a property you’d like to purchase, your mortgage advisor will be able to write up a Loan Estimate. The Loan Estimate breaks down all the estimated costs and fees of your mortgage, both the closing costs and your monthly payments over the

As you’re getting ready to buy a home, you may be wondering what your monthly mortgage bill will consist of.  Also, you may have heard the term “PITI payment” or “PITIA payment” which refer to the costs that go into your monthly mortgage bill.  Let’s break down what these terms mean, and what to expect

Pre-qualification and pre-approval can seem a little confusing at first. In simplest terms, pre-qualification is a quick and easy first step toward homeownership, whereas pre-approval is a more thorough and detailed process. Here’s what you need to know about pre-qualification VS pre-approval for a home loan. Key takeaways What’s the difference between pre-qualification VS pre-approval

Your income is one of the most important financial factors to consider when buying a home. But income can take on many different shapes and sizes, and verifying that income for a home loan isn’t always straightforward. The good news? Even if your income sources are non-traditional, your mortgage advisor may be able to work

As you’re preparing to buy a home, it’s a great idea to understand how to calculate your DTI, because this gives you a clearer picture of your finances and how much you can afford as far as a monthly mortgage payment. In simplest terms, your Debt-To-Income Ratio (DTI) is just what you owe each month

Your savings will play a major role in your home buying decisions. If you’re gearing up to buy a home, it’s probably a good idea to start saving ahead of time. But what costs exactly do you need to save up for? And how much do you need to save up for your home purchase?