Owning your home quite and accomplishment and one to which many people aspire. Most consumers have to do this by taking out a mortgage against the home they purchase. So let’s go back to basics to review what it is that makes a mortgage anyway. A Mortgage Contract Is A Matter Of Public Record A […]
Category | Mortgage News
When is a reverse mortgage right for you? The short answer is that reverse mortgages are for seniors. However, you deserve a better answer, and that will take a little explaining. First, there are two categories: FHA Home equity conversion mortgage (HECM) and private company loans. Since a reverse mortgage pays you instead of the […]
Because Sellers Should Tell Buyers Certain Things Sellers have a growing list of disclosures they are required to make to buyers before selling their properties now. However, caveat emptor is still the word of the day when it comes to real estate. Sellers may attempt to cover up defects in a property or misdirect buyers […]
Did You Want A Vacation Home Or An Investment? If you are in the fortunate position of considering the purchase of property while retaining your home you are doing well. Do you want a vacation home you can enjoy exclusively? Or do you want an investment you can drop in on occasionally? The goal of your expanded […]
Buying a home usually comes with hidden costs, bills that pop up at some point in the process. While these may be unexpected if you are unprepared, a little research before you buy can save you hassle later on. Even once you have closed, picked up your keys and settled in, some expenses can appear […]
Income stability is the key attribute that mortgage underwriters wish to see in a home loan applicant. When you begin the process of buying a home and applying for a mortgage, your lenders review your financial history very carefully. Based on the policies of the bank, what they know about risking large piles of cash, and […]
Foreclosed Homes Are Still Waiting For Buyers Perhaps you have heard that the potential for building a real estate empire from foreclosures is as good now as it has been in recent years. They say you can make the proverbial killing in real estate by buying foreclosed homes as investments. The question is: Who is […]
Conforming Versus Non-Conforming Loans So, where are the limits in conventional home lending and why do they matter? It certainly matters if you are seeking a luxury home that exceeds the limits for conventional home loans as defined by the FHA. Or if you have a high income, and you would like to live in […]
What Is A Hard Money Loan? Hard money loans are financial tools for sophisticated buyers who need to take drastic measures to secure real estate. The sources of such secured lending are usually private investors or syndicates of investors; this type of lending usually has a one-year term; this might extend up to five years in extreme […]
Should you divert funds from your down payment to get better terms on your monthly payments? Or should you go the opposite direction and add to your equity? How about getting cash back at closing? These are all things that you can do by adjusting the level of discount points that you agree to pay […]
