Asset Depletion Mortgage: Use Assets to Qualify for a Home Loan
Asset Depletion Mortgages: How Your Assets May Help You Qualify for a Home Loan Not everyone earns income through a traditional W-2 paycheck. Some people are retired. Others own businesses or rely heavily on investments. In many cases, a large portion of their wealth may be sitting in retirement accounts, savings, brokerage accounts, or other […]
Can You Remove PMI Early? A Guide for Utah Homeowners
If you purchased a Utah home with less than 20% down, there is a good chance your monthly mortgage payment includes private mortgage insurance, commonly called PMI. PMI helped you purchase the home without waiting years to save a larger down payment. That is the good news. The less exciting news is that you may […]
What Is LTV? A Simple Mortgage Guide
If you are buying a home or refinancing, you may hear the term LTV. But what is LTV, and why does it matter? LTV stands for loan-to-value ratio. It compares the amount of your mortgage loan to the value of the property. How Is LTV Calculated? To calculate LTV, divide the loan amount by the […]
How to Remove PMI From Your Mortgage and Lower Your Monthly Payment
If you’re paying Private Mortgage Insurance (PMI) each month, you’re probably wondering: “When can I remove PMI?“ The good news is that PMI does not have to last for the life of your loan. In many cases, homeowners can remove PMI sooner than they realize, saving hundreds of dollars every month. Here’s what you need […]
Down Payment Options in Utah: How Much Do You Really Need?
Many Utah homebuyers assume they need 20% down to purchase a home. That is not always true. Depending on your income, credit, loan type, and the property you are buying, you may have several down payment options in Utah. At Houzd Mortgage, we have access to a wide range of loan programs. That allows us […]
How Strong Is the Buyer’s Pre-Approval?
A good friend of mine recently asked me a simple question: What should a listing agent ask the buyer’s lender before recommending an offer to the seller? It was a great question—and one I have been asked several times over the years. When a listing agent receives a pre-approval letter, it usually looks official. It […]
College Rental Property in Utah: Buying Near Campus Before Fall
A college rental property in Utah can be an interesting option for buyers who want to invest in real estate and create rental income near a major campus. Instead of buying a traditional rental and leasing it to one tenant, some investors look for townhomes near colleges and rent out the rooms individually. This strategy […]
Why Owning a Home Can Be Better Than Renting
Renting can make sense for a season. It can be the right choice during a transition, job change, or short-term life plan. But long term, we believe homeownership is one of the best ways to build stability, wealth, and opportunity. That does not mean buying is always easy. It also does not mean every person […]
Good Income? No Down Payment? The 1% Down Program May Help
A lot of buyers are in an interesting spot right now. They have good income, can afford the monthly mortgage payment and they feel ready to buy a home. But there is one problem. They do not have a large down payment saved. If that sounds familiar, you are not alone. Saving for a down […]
Buying a Home in Utah With 1% Down
Buying a home in Utah with 1% down may sound too good to be true. For many buyers, the biggest challenge is not the monthly mortgage payment. It is the upfront cash needed for the down payment. That is why the 1% down program can be such a helpful option for qualified Utah homebuyers. If […]