Local gator great and University of Florida Hall of Famer Chris Doering will host SEC Today, airing weekdays from 3:00 to 6:00 pm ET on the new SiriusXM SEC Radio. In an announcement today by Sirius XM, the 24/7 channel dedicated to the Southeastern Conference will go live on March 5. “Growing up in Gainesville, I had the privilege to attend football, basketball, baseball and many other competitive SEC sporting events on a regular basis,” said Doering. “I am very excited about the opportunity to align with the SEC and speak year round about what I feel is the best athletic conference in the country. The SEC leads the way on so many fronts and this is just another example of their forward thinking and commitment to their fans. I am honored to be a part of the new Sirius XM channel dedicated to SEC sports.”… Read More
There are two forms of bankruptcy, Chapter 7 and Chapter 13. Chapter 7 bankruptcy requires assets to be liquidated in exchange for the cancellation of debt. Which means, whatever is owned by the debtor is sold in an attempt to pay off the creditors. In Chapter 13 bankruptcy, however, a payment plan is established and monitored by the court until the debt-holder is able to get free from their debts. Those with regular income can file Chapter 13 bankruptcy and regular payments are assigned to pay off their creditors over the next three to five years. When someone is clear of their debts they are discharged from their creditors. Becoming discharged from debt means that you are no longer legally required to pay any remaining debts. In terms of home buying, your ability to qualify for a mortgage is determined… Read More
Whether you are buying a home or refinancing your home loan, insurance is important to understand and consider when you’re planning your financial future. Many first-time homebuyers can confuse private mortgage insurance from homeowners insurance, and title insurance. We outline the differences so that you know what to expect when it comes time to refinance or buy a home. What is Homeowners Insurance? Homeowners insurance (sometimes referred to as hazard insurance) policy covers damages to your home and your belongings, and accidents on your property, as outlined in your policy. In contrast to private mortgage insurance (PMI), homeowners insurance is designed to protect you as the homeowner. Homeowners insurance is not always mandatory. For example, if you have paid off your entire mortgage, you are not required to have homeowners insurance. However, it is extremely encouraged to avoid risking what… Read More
When a home buyer applies for a home loan, the application is accepted or rejected based on criteria that prove that the applicant is a financially stable and reliable candidate to make their payments on time. Requirements and qualifications vary based on each home loan program. An underwriter is a hired vendor responsible for reviewing each application to assess the risk of lending to a borrower. This process not only protects the lender from potential default but also protects the borrower from entering a loan that they cannot afford. During their assessment, they take three factors into consideration. Each factor is weighted differently based on the type of the home loan. The Underwriting Process – The 3 C’s To fully assess the risk of a borrower, underwriters review a borrower’s credit, capacity, and collateral. Based on their assessment, they determine… Read More
Throughout the home buying process, you will encounter a series of steps to take that ensures an easy, efficient and prompt closing. Understanding what you are able to afford is a great first step in shopping for anything. So, why wouldn’t you do so for what could be the largest purchase of your life? When you get pre-approved for a mortgage home loan, it means that a lender has evaluated your credit, employment history, and residential history to determine which home loans you are eligible for, the conditional size of the home loan that you could borrow and the conditional interest rates that you would be offered. At Chris Doering Mortgage, we make it our priority to make the process of purchasing a home as easy as possible. That’s why we outline everything you need to know about getting pre-approved… Read More
Buying a home is a large investment and it’s important to have a clear understanding of the cost of your mortgage loan. Home shoppers are often confused about the difference between APR (Annual Percentage Rate) and interest rates. When evaluating a mortgage loan, interest rates can tell a different story than APR. It’s important to note that neither is better or worse than the other. If you understand what each represents, then you can make an educated decision on your mortgage loan.