Mortgage Knowledge Center
Mortgage Knowledge Center
Welcome to Jovia’s Mortgage Knowledge Center
It’s only natural to feel a bit stressed during the mortgage process, but we promise it does not have to be an overwhelming experience. We are committed to helping you ease that feeling and equip you with all the tools you need.
From establishing a budget to choosing a mortgage loan, the right resources can make all the difference. By understanding the path that lies ahead, there will be less uncertainty, and you’ll feel more empowered to make decisions.
What is your mortgage goal?
Payment Calculator
Calculate your mortgage payments
Use our mortgage calculator to estimate your monthly mortgage payment. You can input a different home price, down payment, loan term and interest rate to see how your monthly payment changes.
Advice
Buying A New Home Guide
Buying a new home step by step, so you’ll never have to wonder what happens next.
Refinancing Your Home Guide
How, when and why to refinance to get the most value from your home loan.
When it's Time to Upsize Your Home
What to consider before upsizing your home.
Reasons to Consider Refinancing Your Mortgage
Let’s go over some of the major reasons why refinancing your mortgage may be right for you.
Five Tips For a Successful Home Loan Approval
Set yourself up for success with these 5 tips.
Everything You Need To Know About the Appraisal Process
Breaking down the process and everything you know about home appraisals.
Should I buy a house now?
To buy or rent a home? It’s a question many Long Islanders face when choosing where to live. Everyone has an opinion, but only you can decide what’s best for you. Since no two situations are alike, the choice to buy a home now or in the future is personal. Before you sign your next lease or hit the pavement house hunting, learn the key factors you should consider before buying a home.
How do mortgages work?
Buying real estate will likely be one of the largest investments you make. Whether it’s your first home or your dream home; each purchase is unique and may have you asking questions like, what is a mortgage? How do mortgages work? And, how do I apply for a mortgage? We know there’s a lot to understand and we’re here to help. This article will explain the key factors of the mortgage process so you can eliminate the guess work and apply and buy with confidence!
First-time homebuyer mortgages
Exciting times, you’re ready to become a homeowner. Buying a home for the first time can be exhilarating and nerve wracking, especially when it’s time to apply for a mortgage. Before the search begins and house hunting starts, learn what it means to be a first-time home buyer, 10 key steps to buying a home, first-time home buyer mortgage options and how to apply.
How to get pre-approved for a mortgage
The search is on! You’re in the market for a new home. Before you hit the pavement visiting open houses, you’ll want to get preapproved for a mortgage. We’ll explain how to get preapproved for a mortgage, why it’s an important step in the home buying process and the documents you need to get started.
Homebuying 101: How to make an offer on a house
Your credit is in order, you found the right home at the right price, and you chose a mortgage term that best meet your needs. It sounds like you’re ready to make an offer on a new home!
When should you refinance your mortgage?
Is it a good time to refinance? This is a common question homeowners ask themselves. Check out our tips on the best time to refinance and what to consider before refinancing your home.
Homebuying 101: Fixed Rate vs Adjustable Rate Mortgages
Do you find yourself trying to figure out whether a fixed rate mortgage or adjustable rate mortgage is right for you? We can help!
Homebuying 101: Finding the right home for the right price
Every day, Jovia works with members who are exactly where you are. We’ve got some great guidelines and tips on finding the right home and buying it at the best price possible so you can enjoy the home-shopping process rather than worry your way through what should be an exciting time in your life.
Homebuying 101: Getting your credit in order
Congratulations! You’re considering buying a home-maybe your first. It’s a big step in life and it can be exciting, but it can also be a bit intimidating … at first. There’s lots of lingo to learn and lots of things to do between now and the day they hand you the keys. But, trust us, you can get there and Jovia can help!
Mortgage Preapproval
Buying a home is one of the biggest steps to take. And, finding the right mortgage to match is an equally important step. Jo from Jovia explains the preapproval process in figuring out how much money is needed to buy a home.
Mortgage Tips
Confused about applying for your very first mortgage? Don’t be. Jo from Jovia has the tips you should know. Learn about rates, costs, fees, types of mortgages, and…well, we don’t want to scare you, so check out the video.
FAQs
We offer fixed, adjustable, and jumbo mortgages. To view rates and learn more about the specifics of each mortgage type, click here.
Backed by the Federal Housing Administration, an agency within the U.S. Department of Housing and Urban Development (HUD), FHA loans help potential homebuyers with low-to-moderate income achieve homeownership. A primary characteristic that makes FHA loans an attractive option is that they offer more flexible credit requirements.
When it comes to qualifying for an FHA loan, credit score and down payment amounts are just part of the equation. There are several other requirements that go into applying for an FHA loan. To give you a general idea of what to expect, here are a few guidelines:
- Proof of steady employment history is required or proof of working at the same employer for at least two years
- You must have a valid Social Security number
- FHA loans are limited to U.S. citizens, permanent residents and citizens of Micronesia, Palau, and the Marshall Islands