Understanding the Reverse Mortgage and How to Use It to Pay Off a Regular Mortgage

July 13, 2022

There are a variety of mortgage products out there that serve the needs of different homeowners, but for the uninitiated it can be hard to know what will work best for them. If you happen to be close to retirement and are looking at options that will be more financially beneficial for you, here are the details on a reverse mortgage and how this product can work for you.

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Financing Options For Home Improvement Projects: What To Know

July 12, 2022

Are you planning on updating your house? A home improvement project can be expensive, but you don’t necessarily need to pay for the entire cost upfront. There are several loan options that can make it easier for you to get your home improvement project started right now. What are your options?

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What’s Ahead For Mortgage Rates This Week – July 11, 2022

July 11, 2022

Last week’s scheduled economic news included reports on job growth. The Federal Reserve released the minutes of its most recent Federal Open Market Committee meeting. Weekly readings on mortgage rates and jobless claims were also released.

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You Closed On A House: Do You Or Your Lender Own It?

July 8, 2022

You were able to find a house and successfully close on it, so congratulations on becoming a homeowner! Then, you pause for a second and think: does your lender own your house? Some people believe that if they only put 20 percent down on a house, the lender actually owns the other 80 percent. Does this mean that your lender still owns a large portion of your house? This is not the case, but there are some caveats that you need to keep in mind.

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First Time Home-buyers: How to Properly Research Your Mortgage Options

July 7, 2022

For most consumers, buying a house is the largest purchase you’ll make in your life. That’s why it’s important to ensure that you have the best mortgage terms available. With so much at stake, it’s important to have full confidence in both your lender and your mortgage.

So how can you ensure that the mortgage you choose is the right one for you? Here’s how you can evaluate your mortgage options and find the best option for your individual circumstances.

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An Overview Of A Drive By Appraisal

July 6, 2022

If you are applying for a home loan of any kind, there is a high likelihood that your lender will require a home appraisal. An appraisal is done to figure out how much your home is actually worth because the lender does not want to lend you more money than you could theoretically sell the home for in the future. There are some situations where the lender might be fine with a drive/by appraisal. What does this mean?

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What’s Ahead For Mortgage Rates This Week – July 5, 2022

July 5, 2022

Last week’s scheduled economic news included reports on home prices, pending home sales, and inflation. Weekly readings on mortgage rates and jobless claims were also released.

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Case-Shiller: Home Price Growth Slows in April

July 1, 2022

U.S. home price growth continued but slowed in April according to the S&P Case-Shiller Home Price Indices. The national home price index posted year-over-year home price growth of 20.4 percent in April as compared to the corresponding home price growth rate of 20.6 percent in March. Analysts said that diminishing affordability was slowing rapid gains in home prices seen during the pandemic.

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The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs

June 30, 2022

It’s amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer.

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You Are A Serious Buyer: How To Show It

June 29, 2022

Today, the housing market is as hot as it has ever been. There are many people who are missing out on their dream homes because they are having a hard time competing with countless other people who are in the same position as them. If you want to put yourself in the best position possible to win a bidding war, you might be thinking about paying cash for your home; however, not everyone is in the same financial position. There are a few other ways for you to show a seller’s agent that you are serious about your offer.

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