-
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...
-
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...
-
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...
-
A reverse mortgage can help you get equity out of your house, but it’s a major decision to make. Picking a good lender can make the situation easier, smoother, and better overall. This guide may help you choose a great reverse mortgage company to help you get the money...
-
Reverse mortgages have become more and more popular as the baby boomer generation ages into retirement. Unlike a traditional mortgage, a reverse mortgage uses your home as collateral against a loan that you can use to supplement your income. However, instead of receiving the proceeds of the loan in...
-
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...
-
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...
-
To buy points or not to buy points? If you plan on having your loan for a while then you want to put more money down, buy some points, and get a lower interest rate. Even if you don’t know how long you’re going to have your loan due...
-
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...
-
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...
-
Credit cards – they can be a friend or a foe! As you get ready to enter into the world of credit cards or add another card to your menagerie of other cards here are a few tips to keep in mind: Make sure that you will be able...
-
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...
-
Is it better to rent or buy a home based on cost and convenience? The only answer to this is that it really all depends on your financial situation and circumstances in life. However, for most parts, in the long run, owning a home is always much better than...
-
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...
-
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...
-
A good FICO® Score gives you “buying power” – the power to purchase things. Without a good FICO® Score, a lot of your dreams may be harder to reach – like your own home, a dream vacation in the Alps or Hawaii, or that bright red Ford Mustang you’ve been...
-
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...
-
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...
-
What is a FICO® Score? A FICO® Score determines the available credit, as well as the guidelines with which credit is given, such as interest rates. It helps the lender determine the risk involved with lending you money. FICO® Scores are calculated from the credit reports from specific...
-
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....
-
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,...
-
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...
-
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...
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...
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...
A reverse mortgage can help you get equity out of your house, but it’s a major decision to make. Picking a good lender can make the situation easier, smoother, and better overall. This guide may help you choose a great reverse mortgage company to help you get the money...
Reverse mortgages have become more and more popular as the baby boomer generation ages into retirement. Unlike a traditional mortgage, a reverse mortgage uses your home as collateral against a loan that you can use to supplement your income. However, instead of receiving the proceeds of the loan in...
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...
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...
To buy points or not to buy points? If you plan on having your loan for a while then you want to put more money down, buy some points, and get a lower interest rate. Even if you don’t know how long you’re going to have your loan due...
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...
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...
Credit cards – they can be a friend or a foe! As you get ready to enter into the world of credit cards or add another card to your menagerie of other cards here are a few tips to keep in mind: Make sure that you will be able...
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...
Is it better to rent or buy a home based on cost and convenience? The only answer to this is that it really all depends on your financial situation and circumstances in life. However, for most parts, in the long run, owning a home is always much better than...
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...
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...
A good FICO® Score gives you “buying power” – the power to purchase things. Without a good FICO® Score, a lot of your dreams may be harder to reach – like your own home, a dream vacation in the Alps or Hawaii, or that bright red Ford Mustang you’ve been...
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...
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...
What is a FICO® Score? A FICO® Score determines the available credit, as well as the guidelines with which credit is given, such as interest rates. It helps the lender determine the risk involved with lending you money. FICO® Scores are calculated from the credit reports from specific...
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....
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,...
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...
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...