Dos and don’ts when getting a mortgage

Starting a new job. Receiving a large cash gift. Buying a new car. These are all typically happy and exciting events. However, if you’re considering applying for a mortgage – or are already in the process of obtaining one – these developments could negatively impact your financing. At Draper and Kramer Mortgage, we educate our ...

How homeownership helps protect you from inflation

Inflation is back in the news this year. While the U.S. inflation rate had remained low at about 2% since 2010, it has surged past 5% this year, pushing up prices and squeezing pocketbooks. Thankfully, there are a few ways to reduce the harmful impacts of inflation, and many Americans are already using one – ...

How to get rid of private mortgage insurance early

If you’re paying for private mortgage insurance (PMI) on your home loan, you may qualify to remove it early. Since mortgage insurance only protects your loan servicer (the company you make your mortgage payments to), not you, the sooner you can get rid of it and stop paying monthly premiums, the better. Here’s an overview ...

Why refinancing your home may now be cheaper

There was some great news for homeowners recently. In July, the Federal Housing Finance Administration (FHFA) removed the 0.5% fee that had applied to most mortgage refinances. This means that refinancing a mortgage is now cheaper for most mortgage borrowers.

What happens after you sign a home purchase contract?

You’ve just signed a contract to buy your dream home – fantastic! But what’s next? Even after you’ve signed on the dotted line, there are a number of steps to complete before the deal is closed and the home is yours. To be prepared for this important stage, review these final steps in the homebuying ...

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