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3% Down Conventional Mortgage Loan

3% Down Conventional Mortgage Loan Learn about one of the newer conventional loan options, where you put 3 percent down instead of the typical 5 percent.     Traditionally Usually home buyers will put 5 percent down on a conventional mortgage loan, but what you may not know is that you may now qualify for a 3 percent down loan. There are some significant benefits to choosing this newer option. What’s the Difference? A 3 percent down loan means 2 percent less that you pay out of pocket, up front, for your home loan, compared to the five percent down conven...

June 4th, 2018 | Types of Loans, Qualify, Mortgage, Home Loans, Closing Costs, Mortgage Rate, 3% Down Conventional Mortgage Loan

5 Common Mortgage Application Mishaps

5 Common Mortgage Application Mishaps And How to Avoid Them     1. Missing or Late Documents Before and during the mortgage process, your broker or lender will ask for tons of documentation. Sometimes, the documents you provide may prompt the need for more documents. It’s important to stay in touch with your broker or lender throughout the process, and promptly provide information when requested. The mortgage loan process can be complicated, and keeping up with what your broker or lender ask for will help smooth the process! 2. Applying for or Closing Credit...

March 22nd, 2018 | Reverse Mortgage, Types of Loans, Home Loans, Mortgage, 5 Common Mortgage Application Mishaps

FAQ: What is a reverse mortgage?

  What is a reverse mortgage? Reverse mortgages are one of the most popular, and one of the most misunderstood mortgages out there. Some seniors rule out the idea of getting a reverse mortgage based on misconceptions about what it means. Of course, with all significant financial decisions, everyone’s situation is different. Here we will set some of the facts straight about reverse mortgages to help you make an informed decision.     You don’t give up ownership of your home Some people believe that getting a reverse mortgage means giving up ...

February 11th, 2018 | Reverse Mortgage, Home Loans, Independent Mortgage Broker, Mortgage, Types of Loans, FAQ: What is a reverse mortgage?

What Is A 203K Loan?

What Is A 203K Loan? A 203K loan gives you the opportunity to get a single loan for both purchasing and improving your new home. Homebuyers often find several homes that are almost perfect, if it weren’t for an out-of-date kitchen, rundown deck, outdated appliances, or other home improvement project. But what some people don’t realize is that with a 203K loan, you can finance both the purchase and rehab of your new home!     From rehab to dream home You may find a home with most of the features you’re looking for, in the perfect school district, ...

February 4th, 2018 | 203K, Customize, Design, Home Loans, Homebuyer, Types of Loans, What Is A 203K Loan?

Save: The Benefits Of 15-Year Refinancing

The Benefits Of 15-Year RefinancingLearn how refinancing a home mortgage could lower your interest rate and save you thousands. Refinancing is when you take out a new loan to completely pay off your original one. This may sound odd, but it gives you the opportunity to get a better interest rate and change the loan period, which could save you thousands of dollars over the course of your loan. Why would I want to refinance?Sometimes people choose to refinance their home mortgage because they qualify for a better interest rate than when they first purchased the home. If you had bad cre...

July 27th, 2017 | Predatory Lending, Mortgage Rate, Types of Loans, Home Loans, Refinancing, 15-Year Refinance, Save: The Benefits Of 15-Year Refinancing

How To: Protect Yourself From Predatory Lending

Protect Yourself From Predatory LendingLearn how to spot and avoid predatory lending practices so you don’t get stuck with a bad loan If you’re in the market for a home loan, you may have heard the term “Predatory Lending” before. Here we’ll explain what that means and how to spot predatory lenders so you don’t get stuck in a bad situation! What are predatory lending practices?In a nutshell, predatory lending is when a lender takes advantage of a borrower. The lender might propose unfair loan terms, such as charging the highest possible rates and f...

June 29th, 2017 | Types of Loans, Predatory Lending, Home Loans, Mortgage Rate, How To: Protect Yourself From Predatory Lending

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