Category Archives: Mortgage

Nearing Retirement? Three Reasons Why You Might Consider a ‘Reverse Mortgage’

living room If you are nearing retirement, a reverse mortgage might be right for you. This type of mortgage essentially allows you to turn your home equity into cash. If you find yourself with little money, a reverse mortgage could be the perfect solution, and here's why. No Worries About Monthly Payments After taking on a mortgage, there are many costs that you have to worry about. One of these problems is mortgage insurance premiums. Add interest and fees from lender service providers to the mix, and you've got yourself many costs. All of these fees can create tremendous headaches, as a large chunk of the loan amoun ... Click to Continue

Understanding the ‘Qualified Mortgage’ or QM and Why It’s Important to New Home Buyers

house Are you shopping for a home or a new mortgage? If you are interested in finding the best possible financial product, it is important to consider the benefits of selecting a Qualified Mortgage. With so many different types of loan products to choose from and financial terms to learn, schooling yourself on the mortgage market before you buy your first home or apply for your first refinance mortgage may seem like a daunting task. Luckily, there are resources that are designed to help you learn the basics of products and terms so that all consumers have the power to inform themselves before securing a loan. What ... Click to Continue

Three Surprising Spots in Your Home That Might Be Aggravating Your Allergies

home 6 Environmental allergens affect the way many people live their lives and clean their homes. Allergens make their way into our houses, and can settle in some unexpected places – but knowing where these irritants can hide can help you eliminate problematic allergens from your home. If your house has you sneezing and wheezing in every room, here are three allergy-triggering places where you wouldn’t expect to find allergens in the home. Allergens Lurking In Your Living Room Visitors to your home brings allergens with them. Allergens are easily transferred from your visitors onto your carpet ... Click to Continue

USDA Mortgages: Take Advantage of These Low-rate Mortgage Loans to Buy a New Home

home 5                   Are you thinking about buying a home in a rural or suburban area? If so, you'll want to take a look at the United States Department of Agriculture's mortgage programs as you may qualify for them. In today's blog post we'll introduce the USDA Rural Development Single Family Housing Guaranteed Loan Program, explain the benefits of this mortgage program and how to determine if you qualify. What is a USDA Mortgage Loan? The USDA mortgage program is one of a number of programs in which the federal government will guarantee a ... Click to Continue

The FHA Hawk Program for New Homebuyers is Coming:

home 4   The FHA offers many new programs and incentives for new homebuyers to take advantage of so that they can be part of the effort to ease the credit crisis. If you are in the process of shopping for a mortgage prior to shopping for your new home, it can benefit you to learn about programs that you may qualify for that are being created by the Federal Housing Administration and piloted. One such plan, which is has been approved as a four-year pilot program, is referred to as the FHA HAWK Program. Read on to learn how this program works and how it can affect mortgage insurance premiums. What is th ... Click to Continue

The Winter Buying Season Is Coming: Here Are 3 Tips to Help You Secure a Favorable Mortgage Rate

home 3   The best way to ensure you get a good rate on your mortgage is to become an informed buyer. The more you know about mortgages, the more you'll be able to save, and that doesn't just mean knowing where to find the best interest rate. While interest rates play an important role in determining the price of your mortgage, there's always more to a mortgage than just the interest rate. Here are three things you need to know about mortgages to make sure you secure a favorable rate before this buying season is over. Understand The Fees Involved - And How To Avoid Them Aside from the in ... Click to Continue

Real Estate Secrets: Understanding the ‘Option Period’ and What This Term Means for You as a Buyer

home2   When the sale of real estate takes place, a certain amount of time might be allotted after a contract is created but before the transaction is finalized during which the buyer may decide not to follow through with the deal set forth in the contract. This 'option period' allows buyers to have a property inspected and its value ascertained without the risk of losing the property to another buyer. What Happens When The Option Period Takes Place Typically, a buyer must pay an option fee in order to be able to enjoy the luxury of an option period. During the option period, property inspe ... Click to Continue

Turned Down for a Mortgage? What to Do if You are Declined – and How to Get Second Opinion

Home   If you have been declined for a mortgage, you may think that home ownership is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about your loan options and get the mortgage that works for you. Find Out Why The Mortgage Application Was Denied The first step to getting a second opinion is to find out why your mortgage application was denied. Banks commonly deny mortgages for reasons like a low credit score, a high debt-to-income ratio, or concerns about the applicant's past and present emplo ... Click to Continue

Summer Buying Season: Here Are 3 Tips to Help You Secure a Favorable Mortgage Rate

shutterstock_104946530   The best way to ensure you get a good rate on your mortgage is to become an informed buyer. The more you know about mortgages, the more you'll be able to save, and that doesn't just mean knowing where to find the best interest rate. While interest rates play an important role in determining the price of your mortgage, there's always more to a mortgage than just the interest rate. Here are three things you need to know about mortgages to make sure you secure a favorable rate this summer buying season. Understand The Fees Involved - And How To Avoid Them Aside from the interest r ... Click to Continue

Thinking About Refinancing Your Mortgage? A Look at Refinancing Rates and Predictions for the Rest of 2016

lake house   Mortgage rates have been so low for so long that it's hard to believe there are any homeowners left who haven't refinanced their mortgages. But there are still people who can benefit, and conditions are still strong for refinancing. Below are some predictions for 2016 and how the refinancing market will shape up. Rates Will Remain Low, At Least For A While Mortgage rates moved back below 4 percent in the latter stages of 2014 and stayed that level in 2015 and now here in 2016. For homeowners who still have a mortgage rate that's around 4 1/2 to 5 percent, that makes it worth it to refinance. Howev ... Click to Continue