Blog

Jul 22

Loan Lingo: Annual Percentage Rate (APR)

Annual Percentage Rate- Annual percentage rate is expressed as the periodic interest rate times the number of compounding periods in a year (also known as the nominal interest rate); since the APR must include certain non-interest charges and fees, it requires more detailed calculation. An annual percentage rate (APR) is the annual...
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Jun 09

A Home Summer Shape Up Amid Coronavirus Concerns

  A Home Summer Shape Up Amid Coronavirus Concerns Here are a few ways to give your home a check up this Summer, despite all the impacts of COVID-19 Temperature Check: Most of us have been checking our body temperatures regularly during this health pandemic, but what about your home’s...
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May 12

Mortgage Forbearance: What you need to know

One of the goals of the recently passed CARES Act (Coronavirus Aid, Relief, and Economic Security Act) is to provide relief for struggling homeowners, including the requirement that loan servicers provide mortgage forbearance. It's important to understand what this forbearance means and who is able to take advantage of the relief. What...
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May 05
Dec 02

Mortgage Calculators: Why & How they are useful

Mortgage calculators are a vital tool for any prospective homebuyer as well as current homeowners. They help to estimate your monthly mortgage payments as well as determine how much you can afford when purchasing a home. There are a variety of mortgage calculators available, but Main Street Home Loans offers three free options:...
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Oct 30

USDA Loans: What You Need to Know

Are you a city-slicker looking for a change of scenery? Lucky for you, the United States Department of Agriculture (USDA) created a home loan that is meant for people who are looking to live further off the grid. Let us introduce you to USDA loans and what you need to...
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Sep 03

Getting Your Home Ready for Fall

With summer over, it’s the perfect time to start preparing for the approaching winter months. Here are some important tips to help you start getting your home ready for fall. Clean your Chimney One of the last things you want to worry about is having your chimney catch on fire....
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Aug 28

What is Earnest Money?

If you’re ready to buy a home, you should prepare to have an earnest money deposit. This can be an extremely important part of the homebuying process as it essentially lets a home seller know how serious you are as a buyer. So, what is earnest money? An earnest money deposit, otherwise...
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Jul 29

What You Need to Know About Closing Costs

Getting ready to purchase a home is a huge financial undertaking. While you are probably aware of having to save up for a down payment, you might not know about closing cost fees. Don’t be taken by surprise at the closing table; here’s what you need to know about closing...
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Jun 26

Mortgage Dos and Dont’s

If you are looking to purchase a home, you may have wondered what is needed to qualify for a mortgage. When your lender is determining whether you qualify for a home loan, many factors you may not have considered may come into play. Here are a few mortgage do’s and...
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