Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
When shopping for a home, securing mortgage pre-approval is one of the most important steps you can take. Not only does it show sellers that you are a serious buyer, but it also gives you a clearer picture of your budget and financing options. However, many homebuyers do not realize that mortgage pre-approval can be… Continue reading Creative Ways to Use Mortgage Pre-Approval to Your Advantage
Buying a home in a remote area can be a dream come true—peaceful surroundings, open spaces, and a slower pace of life. However, securing a mortgage for these properties comes with unique challenges. As a mortgage originator, I’m here to break down the hurdles and offer solutions so you can make your rural homeownership dreams… Continue reading Challenges and Solutions for Mortgages in Remote Areas
When it comes to securing a mortgage, timing is everything—especially when it comes to locking in an interest rate. Mortgage rates can fluctuate daily, and even a small change can have a significant impact on your monthly payments and the total cost of your loan. To protect yourself from rising interest rates while you’re in… Continue reading What Borrowers Need to Know About Mortgage Rate Locks
Owning a home is a significant milestone, but the burden of a mortgage can loom large. Fortunately, there are various strategies to expedite your journey to mortgage-free living, ultimately saving you money on interest payments. We will discuss mortgage payment strategies, such as bi-weekly payments, extra payments, and more, to empower homeowners in their quest… Continue reading Maximizing Your Mortgage: Unveiling Strategies for Faster Payoff and Interest Savings
You will need to provide several documents to your lender and the seller. The specific documents required may vary depending on the lender and the type of loan you are applying for, but here are some of the most common documents you may need.
As you take a look at your mortgage options, you might find that a conventional mortgage presents a few qualification challenges.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
Those who are thinking about buying their first home soon are likely saving up for a down payment. This can be a challenging process because, for many people, this is the largest amount of money they have ever saved in their lives. Sadly, the amount that people might need to buy their first home is more than they think.
For seniors who have equity built up in their home, they might have heard about something called a reverse mortgage. There are plenty of TV commercials for reverse mortgages; however, there is still a lot of confusion regarding what they are.