Archive for the Buying a Home Category

5 Things You Can Do To Get The Best Mortgage Rate

By Mid America Mortgage on December 31, 2018 / Buying a Home, Mortgage Rates

Tags: buying a home, mortgage rates, tips

The median home price in the United States currently sits at around $276,000, according to recent data from real estate listing site Zillow. Since most people don’t have that much cash on hand, anyone who’s thinking about buying a home right now will likely need to borrow most of the money from a mortgage lender — plus interest. That’s why it’s important to shop for the best interest rate available, and do your own part to ensure you can qualify for the best pricing your lender offers. Below are just a few things borrowers can do to help improve their

What Home Features Do Buyers Consider Essential?

By Mid America Mortgage on December 30, 2018 / Buying a Home, Real Estate

Tags: home buyers, home buying, home design

young woman with mobile device house drawing

If you’re searching for a home, or planning on building a new one, chances are you’ve given a lot of thought to the features that are most important to you. For some, garage storage and formal living rooms top the list. For others, a laundry room and walk-in closets reign supreme. According to a recent poll conducted by the National Association of Home Builders (NAHB), the features that first time home buyers consider essential are remarkably similar to the features most wanted by repeat buyers.

What is a Mortgage Escrow Account and Why is it Needed?

By Mid America Mortgage on October 26, 2018 / Buying a Home

Tags: mortgage advice, mortgage insurance, taxes

When you buy a home using a mortgage, an escrow account is usually set up by your lender in order to help manage your property tax and insurance costs. Rather than having to save up and pay these bills separately, part of your mortgage payment is deposited into the escrow account every month. When your insurance premiums and taxes are due, they can be paid via the escrow account. Normally, your lender will use the funds in the escrow account to pay these bills on your behalf.