Title Insurance: Why it’s necessary


You’ve heard of homeowner’s insurance, life insurance, and health insurance, but what is “title insurance.” Why it is necessary? Direct Mortgage Loans interviewed Steve Sokolov, owner and operator of Black Oak Title: Why is title insurance important? Simply put…for protection. Steve further explained through this analogy: Imagine you purchased your home 8 years ago. Your son and daughter are growing up in the house. You have established yourself and your family in the neighborhood. Friends and family visit constantly. Overall you are having a wonderful time and life. Then, one morning, you receive a letter

Title Insurance: Why it’s necessary2019-04-08T13:49:08+00:00

Harford County’s Hometown Heroes Program


On February 5, 2019, Harford County Executive, Barry Glassman announced the Hometown Heroes program for individuals employed full time by: Harford County Sheriff’s Office Harford County Public Schools Harford County Government Harford County Fire & EMS Foundation Harford County Fired & EMS Association This program will provide up to $5,000 to cover down payment and/or closing costs on a home purchase in Harford County, MD. As a local lender, we reached out to the Harford County Office of Community & Economic Development for further clarification: Question: Is this considered a grant? Answer: While

Harford County’s Hometown Heroes Program2019-04-08T13:31:26+00:00

Closing Costs


Whether you’re pre-approved to buy a home, considering a home purchase, or contemplating a refinance, you’ll want to prepare yourself for the various costs at closing. So, what are closing costs? Before you seal the deal, you’ll receive a Loan Estimate and Closing Disclosure – both are required to be provided by your lender. These documents were intended to be user-friendly, but they can be overwhelming and confusing. After reading this article, you’ll be well-versed on each itemized fee. The total that you’ll pay at closing will vary based on purchase price, property location,

Closing Costs2019-04-08T12:56:37+00:00

Pre-Approval vs. Pre-Qualification


You’re ready to buy your home, and you’re hearing words like pre-approval and pre-qualification; What’s the big difference between pre-approved and being pre-qualified? The difference could mean your offer is accepted instead of rejected. Pre-qualification is the first step in the mortgage process. You and your lender will discuss your financial situation (assets, debts and income). From this conversation, you’ll have an idea of what you can afford. At this stage, a credit report may not be pulled, and income is not typically verified. Because of this, your pre-qualification estimate may be inaccurate. Note:

Pre-Approval vs. Pre-Qualification2019-04-08T12:59:00+00:00