Mortgage

As you begin looking for your dream home, chances are you will have a real estate agent ask if you are prequalified for a mortgage. While you may not think about financing before even looking for a home, a mortgage prequalification can be a powerful tool to arm yourself with before you even take that […]

When purchasing a new home, there are so many different things to consider. Not only are you looking for a home that fits all your needs, but you are making decisions on which loan features, such as fixed-rate or adjustable-rate, will work best for your needs. When making this decision, you must understand the differences

When you purchase a home through a conventional mortgage, you make payments every month based on the principal amount of the loan and your loan terms. However, what happens if you make extra monthly payments or even a large lump sum payment during your loan period? When you make these extra payments, it drops the

If you are considering buying your first home, chances are you have been wondering how much money you will need as a down payment and how you will be able to save that money. For many first-time home buyers, this down payment often creates an obstacle to home ownership. But what if there was a

For veterans, VA loans offer an often zero-down mortgage option that helps create a path to home ownership. But before you start looking for your dream home, there are some things to consider in order to best determine how much house you can afford with a VA loan. How much mortgage can I afford with

You have worked your entire life to build equity in a high-value home. As you reach retirement, you likely have a bucket list of new hobbies, fun adventures, or places you would like to visit. But how exactly do you plan to fund all these amazing adventures? A jumbo reverse mortgage may be the answer

When considering a new home, many borrowers expect to pay for homeowners’ insurance to protect their investment should any problems arise. In much the same way, lenders turn to private mortgage insurance, or PMI, to protect them if a borrower is unable to make their mortgage payment. How does mortgage insurance work, and how is

When making an offer on a new home, cash speaks volumes. In fact, if you are facing a bidding war on a new home, offering cash will make your offer more appealing than similar offers dependent on financing. The only downside is purchasing a home with cash leaves you cash-poor. This is where a delayed

When looking to buy a home, many borrowers face numerous challenges when it comes to the application process. Will their credit meet the requirements? Do they have enough income and assets? However, for many foreign nationals without a social security number, the idea of applying for a traditional home mortgage may seem out of reach.

Many homeowners are struggling to finance a condotel or luxury condominium. These properties do not meet the conventional loan requirements of Freddie Mac or Fannie Mae, so there are a limited number of mortgage lenders who will finance these properties. Many specialized lenders will finance a condotel or non-warrantable condominium. What is a condotel, and