• What are Fixed Rate Mortgage Loans?

    Fixed-rate mortgages are the most widely used form of home mortgage loans. It is a basic arrangement in which the lender calculates the principal amount, using a single interest rate, and then divides the sum equally over an agreed period of years. The most popular terms are 30-year and...
  • What is a USDA Home Loan?

    With the housing market finally starting to regain footing, potential home buyers are in search of homes and mortgage loan programs. There are so many types of home loans out there, it’s hard to know which to choose. Maybe you’ve heard about the USDA (United States Department of Agriculture)...
  • Top 6 Most Common Mortgage Questions

    You’re applying for a mortgage and you feel overwhelmed by the acronyms, numbers, and terminology. You don’t know where you should start. Well, you’re not alone. The majority of people are almost completely in the dark when it comes to the finer points of their mortgage agreements and don’t...
  • 5 Disadvantages of Taking Out a Reverse Mortgage

    For a lot of seniors, a reverse mortgage is an excellent method to improving their financial situation during retirement. Reverse Mortgages are providing enhanced financial security, an improved lifestyle, and monetary aid to hundreds of older Americans. However, there are a number of disadvantages. Some of the disadvantages of...
  • Are you Eligible for HARP Refinancing

    You may be considering refinancing your home for a wide variety of reasons. You may want to switch to a fixed-rate mortgage rather than a variable-rate mortgage. You may be struggling financially and may want to lower your payments or your interest rate. Perhaps you want to perform a...
  • What’s the Difference Between Home Equity Loans and Home Equity Lines of Credit?

    Most homeowners will say that the two best things about being homeowners are being able to say they own their own homes and not having to put money in a landlord’s pocket. An even better advantage is the equity you build in your home through the years—equity that you...
  • The Advantages to a USDA Home Loan

    For those unfamiliar with the USDA home loan program, this loan is offered by the Department of Agriculture and is available to borrowers who live in or wish to purchase rural properties. Despite a large number of loan programs now available, many potential buyers are looking into USDA home...
  • How you Can Calculate Mortgage Costs

    Calculating mortgage costs for yourself is actually much easier than it ever has been. Because of the prevalence of the Internet, you now have access that was previously only available to the financial elite. Chief among these tools is the online mortgage calculator that will allow you to break...
  • 10 Questions You Need To Ask Your Mortgage Lender

    Ask these 10 questions and use the answers you get to decide whether to go with a mortgage lender. This is a very important step of the process and should not be taken lightly. You should come to a potential lender with a list of questions already prepared. Do...
  • What is a Reverse Mortgage and How Does it Work?

    Reverse mortgages are a home loan option for senior homeowners over the age of 62. The loan allows homeowners to tap into the equity they have invested into their home over the years to pay unexpected expenses or increase their quality of living. The equity in the home is...
  • How Does a Home Equity Loan Work?

    Are you a homeowner looking to free up some cash for a remodeling project? If so, you may be the perfect candidate for a home equity loan. Home equity loans are one of several benefits of being a homeowner. If you don’t know how they work, they seem like...
  • Who are the Top Private Equity Companies?

    Private equity is already risky enough, but choosing one of the top firms can increase the chance of getting favorable returns. These top private equity firms have performed year after year, and they’re some of the best in the world. Blackstone Based out of New York, Blackstone capitalizes in...
  • FHA Loans: The Pros and Cons

    Those who are looking to purchase a home may have come across the term FHA loan and not know what it is. The acronym FHA stands for Federal Housing Administration. The loan is actually not a loan. It is government-backed insurance for the lender of a home loan. It...
  • The Disadvantages to a USDA Home Loan

    USDA home loans are favored among some first-time home buyers because they offer special incentives, such as not requiring a down payment, and are open to borrowers with low credit scores. The program is sponsored by the U.S. Department of Agriculture, which like all government offices, requires an application...
  • Basic Mortgage Terms You Need To Know

      When you’re buying your own home, you had better go into it with an understanding of all the terms used in the mortgage business so that you really know what you’re getting into. Knowledge is power, and this is especially true when talking about large purchases like buying...
  • Overview of Home Equity Conversion Mortgage

    Seniors that live in a house can get money by setting up a reverse mortgage through the Federal Housing Administration (FHA). The Home Equity Conversion Mortgage (HECM) allows those who are 62 or older access to their home’s equity as long as they’ve paid off the majority or all...
  • Home Equity Conversion Mortgage (HECM): Explained

    Seniors that live in a house can get money by setting up a reverse mortgage through the Federal Housing Administration (FHA). The Home Equity Conversion Mortgage (HECM) allows those who are 62 or older access to their home’s equity as long as they’ve paid off the majority or all...
  • The 4 Best Ways to Spend your Home Equity Loan

    For the past 30 minutes, you’ve been waiting in line to use your home’s only bathroom and all you can think about is how badly you want to add a second. You might be daydreaming about how nice it would be to sunbathe on the outdoor patio only to...
  • What Home Loan Program Options Are Out There?

    For almost as long as there have been home loans, there are home loan programs to help potential and first-time home buyers purchase the home of their dreams. The recent decline in the economy and, particularly, in the real estate market has resulted in the development of many more...
  • How to Choose the Right Mortgage Lender

    Buying a home is one of the most important – and intimidating – financial decisions you can make, and picking a reputable lender who can work with you is a key part of it. Here are some steps to finding the right one. Get your financial house in order....
  • Mortgage Loan Types Available To First Time Home Buyers

    As a home buyer, it is paramount that you learn the different types of mortgage loans to ensure you understand which one is the most suitable for you. If you understand the loans available, and which ones you qualify for, you will be better enabled to maximize long term...
  • Comparing Mortgage Lenders

    Comparing mortgage lenders might seem like a chore. There are many lenders competing for your business with seemingly more and more attractive deals. But you need to be able to rationally compare and judge them to find the one who’s right for you. This is an extremely important decision...
  • Home Equity or a Reverse Mortgage?

    When mortgages first became popular back in the early 1900s, applying for a mortgage was a straightforward process. However, through the years, lending institutions have developed different types of mortgages to meet their customers’ needs. Some mortgages, like home equity loans and reverse mortgages, are used for the original...
  • Applying for a HARP Loan

    The Home Affordable Refinance Program (HARP) is an alternative financing structure that is meant to allow people who are up-to-date on their mortgages to stabilize their home purchase through refinancing. HARP is meant to focus on helping people who are unable to get traditional financing because of the declining...
  • What is a Second Mortgage Loan?

    Second mortgage loans are also referred to as a “junior-lien” or a “home equity loan.” This type of loan works by using your house as collateral while you still paying on your primary mortgage loan. If you need a little extra income, a second mortgage loan may be an...
  • What Can you Do to Avoid Mortgage Foreclosure

    Foreclosure can be difficult for anyone to handle, but mortgage foreclosure help is available to almost anyone. Avoiding a mortgage foreclosure can save you from having to find a new place and impacting your credit negatively. This situation can be tough, but here are some things you can do...
  • What Is A Mortgage Rate Lock?

    A mortgage rate lock is a commitment the lender makes to an interest rate in the beginning of your loan application, which lasts for a certain duration while your loan is processing. If the rate fluctuates via market influences your interest rate for your loan will stay the same....
  • Mortgage Company or Bank? We Compare the Pros and Cons

    Mortgage brokers and banks operate differently in the delicate ecosystem of mortgage buying. You obviously want to get the best deal and the best experience overall. But which one fits you? Let us point the way.  Get out your notepad. We’re going to talk about what a mortgage broker is...
  • Never Use your Home Equity Loan for These 5 Things

    In many of today’s households, money is tight. With decreasing median family incomes and increasing prices on consumer goods, some people struggle to support themselves financially. If you fall into this ever growing category of people, you may be considering taking out a home equity loan. Just don’t tap...
  • Finding the Lowest Rate for your Home Equity

    For the last 10 years or more, you’ve enjoyed living in your home. You may especially be proud of the equity you’ve gained on the home over time. However, because the house is becoming slightly dated, you’d like to complete some remodeling. We’re not saying we’d judge your paneling,...
  • When Should you Apply for a Second Mortgage Loan?

    If you are drowning in debt or you have major home repairs that need to be completed, you may be thinking about taking out a second mortgage. It’s understandable if you’re on the edge about this type of loan because it uses your home as collateral. Since it can...
  • Terms To Know On Reverse Mortgage

    Reverse mortgages are carefully constructed by the government with the intent of helping older adults while keeping them from being ripped off. Before you enter into a reverse mortgage it is imperative you understand exactly what you’re getting into. TV commercials can make it seem like a great plan,...
  • Motivate Yourself To Move: Buying Your First House

    Buying a house for the first time can be a daunting process, but it shouldn’t have to be! Long, detailed, step-by-step advice can make you feel even more overwhelmed and unsure about the process. Let’s keep it short and sweet with two simple steps you need to take when...
  • HARP Refinancing: A History

    The Home Affordable Refinance Program (HARP) is a U.S. federal program that began in 2009. The goal of the HARP refinancing program is to help struggling homeowners refinance their mortgages. The following is a short history of HARP and how the program continues today. The Crisis After the U.S....
  • The Disadvantages of Mortgage Escrow Accounts

    Mortgage escrow accounts help mitigate the amount of risk and difficulty of paying off your mortgage, but they aren’t all good. There are some significant disadvantages to mortgage escrow accounts that you should be aware of before you hire an escrow agent. Fixed Monthly Payment Mortgage escrow accounts require...
  • What is Escrow?

    When buying a home, you’ll eventually find yourself in escrow. But what is escrow? It isn’t as scary as it sounds, but it can be a little complicated for a first time home-buyer. This guide can help you understand the meaning of escrow and how it works. Escrow Meaning...
  • Are Mortgage Calculators Useful when Applying for your Home Loan?

    Even with growing access to data that was formerly reserved only for the financial elite, there is still a great deal of uncertainty about how to use available financial tools to help reduce the anxiety inherent in the process of purchasing a home. Perhaps the most effective of these...
  • 6 Tips When Buying and Selling Your Home in 2016

    To help negotiate today’s real estate market and mortgage, here are six simple steps to buying and selling your home:   Use homebuyer programs   Utilize the programs specific to your local area to help you buy your next home. Websites such as HSH.com can provide tools to those...
  • How to Apply for a HARP Loan

    The Home Affordable Refinance Program (HARP) is an alternative financing structure that is meant to allow people who are up-to-date on their mortgages to stabilize their home purchase through refinancing. HARP is meant to focus on helping people who are unable to get traditional financing because of the declining...
  • 5 Myths About Escrow Accounts

    Escrow might make you uncomfortable, especially if you’ve heard any bad myths about these types of accounts. Whether you’re getting an escrow bank account or an escrow account mortgage, these are some myths you should know before getting started. Escrow accounts keep you from changing your home insurance. Switching...
  • What Types of Escrow Services are There?

    Escrow refers to money that’s held by a third-party on behalf of transacting parties. Many different types of escrow services exist outside of buying and selling properties. Most escrow companies have experience in these various types, but knowing what you need from your escrow agent is the first step...
  • What You Need in a Second Mortgage Lender

    If you are trying to find a second mortgage lender, you should know what qualities to be looking for. There are many different lending options for this type of loan, which can make it tough to choose. Here are a few things you need to look for in a...
  • When Should you Refinance your Home Mortgage

    Refinancing your home mortgage is a major financial decision, but it’s also one that has the potential to save you thousands of dollars over the life of your loan. Refinancing your mortgage can help you to pay less every month, pay your mortgage loan at a faster rate, or...
  • Refinancing your Home with FHA Loans

    Homeowners considering refinancing of their properties may qualify for an FHA streamlined refinance loan, cash-out refinance loan, or a no-cash refinance loan. According to FHA loan rules, applicants for a new mortgage must meet the eligibility criteria, not be the same party as the original loan, and reside on...
  • What are the Advantages of Mortgage Escrow Accounts?

    Mortgage escrow accounts are used to mitigate the amount of risk you may experience as you’re paying your mortgage, but that isn’t the only benefit. Here are some of the other advantages you gain by hiring an escrow officer to hold your mortgage escrow accounts. Convenience One of the...
  • How to Choose the Best Mortgage Escrow Company for You

    An escrow company is designed to prevent fraud when buying or selling a house, but how do you pick a company? You need to receive emails and documents required for closing in a timely fashion and be able to communicate with the sellers. A bad escrow company can push...
  • The Questions you Need your Mortgage Lender to Answer

    If you are in the process of purchasing a home or if you’re planning to build a home, it is likely that you will be working with a mortgage lender to arrange financing. The process of securing a home loan can be complicated and confusing. It is important to...
  • HARP Refinancing: The Pros and Cons

    The Home Affordable Refinance Program (HARP) is a U.S. federal program designed to help homeowners who are struggling with their current mortgages. Before you apply for refinancing through HARP, you should consider the advantages and disadvantages of this type of loan. Advantages Lower Payments One of the reasons that...
  • How to Lower your Mortgage Repayments

    Many people believe, quite mistakenly, that there is no way to reduce mortgage repayments once a deal has been struck with a loaning institution. However, the savviest investors recognize that this is one of the main ways to save money over the long term. Below are just a few...
  • How Much Do Mortgage Escrow Agents Charge?

    Escrow is one of the best ways to avoid fraud, but how much does it cost?  An escrow agent or officer can be someone from the closing company, an attorney, or a title company agent. It’s difficult to give a single price since the escrow agent fees vary and...