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Our Blog Puts YOU in the Driver’s Seat

Helping customers like you achieve their financial goals is all we do, which is why we’re arming you with our expert insight, tips, and advice to help you get there.

Why You Should Start the Homebuying Process with a Pre-approval

You know you want to purchase a home—and that is so exciting! We feel your energy, we really do. But before you start looking online or driving around neighborhoods in search of your dream home, you need to get your ducks in a row and prevent unpleasant surprises that can delay the lending process.

As exciting as it is to look for—and find—a new home, there can be some surprises along the way. Not all of these surprises are fun, and the last thing you want to do is get your heart set on your perfect home only to realize you can’t qualify for the loan.

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Pre-approval vs. Pre-qualification: What’s the Difference?

Deciding it’s time to buy a home can be exhilarating—but it’s also a little daunting. Taking time to research your options before you begin your home search is often the best place to start. One big factor to consider is whether you need a pre-approval vs. a pre-qualification.

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How Making Extra Mortgage Payments Can Benefit You

Owning your home provides safety, security, and stability when it comes to your living situation, especially if you have a fixed-rate mortgage. Knowing that your mortgage payment will never increase and a landlord will never ask you to move can do wonders for your psyche—and your sleep!

You know the one thing that can provide even more safety, security, and stability? Paying off your home loan early. The best part is you don’t have to write a massive six-figure check to do this. Making as little as one extra mortgage payment a year can yield big-time results, and savings, as you work towards paying down your principal.

Making extra mortgage payments can be done in a few ways.

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5 Ways to Manage Debt Effectively

Getting into debt can be fun for a moment (hello, last-minute trip to Cabo!), but that debt hangover will last long after those margaritas have made their way out of your system. Once your splurge is over, you’re left with a long-term debt obligation that may grow ever larger, thanks to compounding interest.

Let’s face it, debt is the pied piper that demands you sacrifice current and future wants and needs for past spending. It can also prevent you from achieving your goals if this debt hurts your credit score or results in a high debt-to-income ratio, making it harder to borrow more money.

So, nip that obligation in the bud and get that piper off your back by managing debt effectively.

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Planning to Buy a House in the New Year

The New Year is full of new goals. For many, planning to buy a house is one of them—and who could blame them? With interest rates teetering at historic lows, the door for many borrowers has been opened, and these rates have provided some borrowers the opportunity to increase their price range.

If you’re ready to get the process started to ensure you’ve got all your ducks in a row when it comes time to pull the trigger and submit an offer on a house, APM is here to help with planning tips for buying a home in the new year.

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Setting Financial Goals for the New Year

New Year, new you, right? This mantra doesn’t just apply to fitness goals—it encompasses all the resolutions you commit to tackling in 2021 with renewed purpose. For many, those resolutions take the form of financial goals (hey, new year, new home does have a nice ring to it!).

Whether you’re looking to make a big-ticket purchase, plump up your savings account, or embark on a trip around the world once COVID-19 is history, establishing a few financial goals will ensure your wallet and heart are on the same page.

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How to Set Effective New Year's Resolutions

The clock is ticking, but we still have a little time before 2021 is upon us. This year, no one could blame you for simply surviving the challenges that 2020 brought, but for those who want to thrive in the new year, setting a few effective resolutions can be your key to success.

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There’s Still Much to Appreciate this Holiday Season

The 2020 holiday season will undoubtedly be one for the books. While the phrase “home for the holidays” may take on new meaning, there is still lots to be thankful for as we inch toward the New Year.

Here are just a few things on our radar.

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Surprising Factors that Influence Mortgage Interest Rates

Interest rates are one of the biggest factors that can influence your homebuying process. This little—or big—number can dictate how much house you can afford . . . and if you can afford to buy a house at all. With so much riding on this figure, it’s important to understand what determines interest rates.

Now, we know what you’re thinking: I know what determines interest rates. My credit score and the size of my down payment! And you would be correct on that, to some degree. While credit score and down payment are two factors that may impact the exact mortgage interest rate offered to you, there are larger interest rate factors at play that determine where these published rates will land day in and day out.

Though you may not know it, there are five surprising factors that can influence mortgage interest rates.

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Building New Traditions

When we think of Thanksgiving celebrations, we likely think of family, friends, amazing food, festive cocktails, and tunes. We also may think of that post-feast nap on the couch! You likely have already established your traditions over the years that might include specific menus, pre- or post-dinner activities, and even the guest list. Traditions are a wonderful way to bring family history and beloved memories with us throughout the generations. While it’s important (dare we say imperative?) to keep traditions going, it’s also fun to create new traditions to add to the mix as well.

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Understanding VA Home Loan Benefits and Who Qualifies for Them

There are so many VA home loan benefits that make this the ideal lending vehicle for service members, veterans, and surviving spouses. But you can’t use these benefits to buy a home if you don’t understand what they are—or who qualifies for them.

So let’s get right to it.

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The Biggest VA Home Loan Myths—BUSTED!

The VA home loan program is an amazing benefit for our deserving active-duty service members, veterans, and surviving spouses of veterans. While no one could ever repay you for the sacrifices you’ve made, the VA loan was created to make your dreams of homeownership just a little easier to achieve.

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How Your Military Service Can Help You Qualify for Affordable VA Loans

As an active-duty service member, veteran, or surviving spouse of a veteran, you’ve made your country proud and, now, we hope to do the same for you. That’s why American Pacific Mortgage is honored to work with you to obtain affordable VA loans that can help our service members and their families achieve their American Dream.

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Buying a Second Home with Family

You’d love to own a vacation home (who wouldn’t?!) but you’re not sure if you can afford it, or even qualify, on your own. Buying a vacation home with family can be the best of both worlds: you get the option—and prestige—of owning a second home, but you only have to pay a fraction of the costs.

 

Sounds like a dream come true, right? Buying a home with family can be, but that all depends. There are many factors to consider before you plunk down your hard-earned cash, sign those documents, and show up to your new vacation home…only to find your sister’s car in the driveway.

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Celebrating Halloween During a World Pandemic

Halloween, as well as our everyday lives, looks a bit different this year. We’re navigating through a pandemic and adapting at every turn. Halloween brings a unique set of problems when you have little ones, who sometimes plan months in advance for the big day. The good news is that we can still make it fun and safe  for everyone with a little planning and creativity. Here are a few out-of-the-box ideas to consider:

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Differences Between a Second Home vs. an Investment Property

You have your primary residence, but you’re thinking about buying a second home. Congrats! Being in a position to purchase another residence is a major accomplishment, and you should be proud of that.

The first thing you’ll want to do after celebrating your awesomeness is determine the function of this home. There are second homes that are exactly that—additional dwellings regularly used by you and your family. Then there are investment properties that are purchased with the explicit intent of renting them out as a source of income.

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Qualifying for a Second Home Loan

The American Dream is not one size fits all. For some borrowers, their goal includes owning a second home where their family can vacation while the asset builds equity. Whether that vacation home is a cabin in the mountains or a condo on the beach, this can be a totally attainable goal—as long as you understand the process of qualifying for a second home loan.

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Hispanic Heritage Month: Spotlight on APM Team Members

For Hispanic Heritage Month, APM celebrated all month long by highlighting some of our Hispanic team members who are going the extra mile to make our company and the communities we serve better places to be. We’re so grateful for everything these team members are doing and want to thank them for sharing their stories with us.

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3 Ways to Get Creative when Paying Closing Costs
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How Much One Extra Mortgage Payment Can Save You
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21 Creative Ways to Save for a Down Payment
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