Mortgage Tools
Top 10 Frequently Asked Questions About the Mortgage Process by Home Buyers
Going through the mortgage process can be scary and confusing, but with the right information, it becomes much more manageable. Here are the top 10 questions I frequently receive from clients, along with detailed answers to help you understand the ins and outs of getting approved for a mortgage. Do I need to get prequalified…
Read MoreAvoid this mistake that could cost you hundreds of thousands of dollars with your 401(K)
Did you know that a decision made 25 years ago could cost you a fortune by retirement? I’m Richard Woodward, your guide to smart mortgage and retirement planning. Here’s a lesson worth over $550,000 that could change your financial future. When I left my employer two and a half decades ago, I made the choice…
Read MoreWhy Did My Mortgage Payment Go Way Up? Mortgage Escrow Accounts and How To Fix It
Understanding Escrow Accounts and Managing Rising Homeowners Insurance Costs Hey there, fellow homeowners! If you’ve recently stepped into the world of homeownership (congrats, by the way!), you might be juggling a lot of new terms and responsibilities. One such term that often pops up is ‘escrow account.’ With the recent hike in homeowners’ insurance rates,…
Read MoreUnderstanding Mortgage Rate Locks: Costs and Benefits with The Richard Woodward Team
Navigating the complex waters of home financing can often feel daunting for many buyers, especially when it comes to understanding terms like ” mortgage rate locks.” A common question we encounter is, “Do you charge for a mortgage rate lock?” We’re here to not only answer that question but also to provide clarity on what…
Read MoreHard Credit Pull vs. Soft Credit Pull: Demystifying Credit Inquiries
Hard Credit Pull vs. Soft Credit Pull: Demystifying Credit Inquiries Recently, a client of mine looked at me with a hint of concern and asked, “Are you doing a hard credit check on me today?” It dawned on me that this is a question that many of you might have. So, today, let’s delve into…
Read MoreUnderstanding the Difference: Mortgage Interest Rate vs. Annual Percentage Rate APR
In the confusing world of home buying, two terms often surface when discussing mortgages: the mortgage interest rate and the annual percentage rate (APR). As you begin the home buying journey or consider refinancing, understanding these terms is important. Today, we’ll not only unravel their differences but also shine a light on what fees are included…
Read MoreThe Real Estate Shortcut: Buy a Home Now, Avoid Selling Your Home First – Click for Secrets!
Hey there, Dallas homeowners! Are you ready to take your real estate game to the next level? Imagine buying your dream home without the hassle of selling your current one first. Sound too good to be true? Well, prepare to be amazed because today we’re revealing the secret to making this real estate shortcut a…
Read MoreWhy A Mortgage Broker Is the Way to Go for Millennials
Why A Mortgage Broker Is the Way to Go for Millennials Hey there millennials! So, you’ve decided to take the exciting leap into homeownership. Congrats! But hold on a second, because before you start envisioning your dream home, let’s talk about the most important part of the process: getting a mortgage. Trust me, it’s not…
Read MoreUnveiling the Secret to Massive Wealth: How Real Estate Investments Can Make You a Fortune
Over the past 15 months, both consumers and businesses have had to adapt to the ever-increasing interest rates brought about by the Federal Reserve Board’s 11 consecutive rate hikes since March 2022. However, with the recent decision by the Federal Reserve Open Markets Committee (FOMC) to hold rates steady, it seems that the era of…
Read MoreMortgage Market Update 3.17.23 for Dallas Texas
Mortgage Market Update for Dallas Texas March 17, 2023. Mortgage rates declined this week by roughly 0.375% due to news from the banking sector. Several of my 190+ lenders that I shop my clients mortgages with this week lowered rates. Some are more cautious than other, waiting to see if the volatility will subside before…
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