First Time Homebuyers

How Does a Gift of Equity Work?

Posted in First Time HomebuyersPosted by Maple Tree Funding

parents selling home to son utilizing a gift of equity, handshake over signing of gift of equity letter

In our decades of facilitating home purchases for our clients and customers, we’ve seen equity gifts help home buyers to purchase houses many times. Thinking about using a gift of equity to purchase a home? Here’s how they work. What is a Gift of Equity? A gift of equity is when a home seller – who has a personal connection to the buyer – agrees to sell their house for a price that is significantly…

What To Expect During The New York Mortgage Process

Posted in First Time HomebuyersPosted by Maple Tree Funding

An Overview of The Initial Document Review, Underwriting, Property Appraisal and Clear to Close Stages The mortgage process can seem daunting and a bit overwhelming, especially if you’re a first time homebuyer. When shopping your home financing options for the very first time, it can be tough to know where to start – and to know what to expect as you move forward with obtaining a mortgage. At Maple Tree Funding, we work hard to…

What Are Closing Costs? Is There a Way to Estimate Them?

Posted in FAQs, First Time HomebuyersPosted by Maple Tree Funding

Closing costs are various fees that are paid at the closing of your mortgage. Depending on the state you live in, the closing is where you’ll sit down with the seller and those involved in the home buying transaction, such as real estate brokers and lawyers, and you will sign all the paperwork and remit payments that officially transfer home ownership to you. You’ll walk out with the keys… and a bit less money in…

What is a Mortgage Broker & How Does it Differ from a Bank? [VIDEO]

Posted in FAQs, First Time HomebuyersPosted by Maple Tree Funding

broker vs. bank written on whiteboard in black marker

A home will likely be the largest purchase you make in your life. When it comes to financing that purchase, you have lots of options to consider. Government loans, conventional loans, fixed rate loans, adjustable rate loans and more – there are so many mortgage options to choose from. But while you’re considering your options in terms of home loans, you may also want to carefully consider the source of that loan. If you are a…

7 Home Buying Myths You Should Stop Believing

Posted in First Time Homebuyers, Home Buying Tips & InfoPosted by Maple Tree Funding

illustration of a Sasquatch in the woods

If you’re just starting your search for a home, you may be feeling intimidated and a bit overwhelmed. Everyone seems to have an opinion about how you should go about purchasing a home, and there is so much information out there about what you should and shouldn’t do that it’s easy to feel bombarded. Despite the fact that you may be experiencing information overload as you start researching the home buying process, it’s important to…