Mortgage

Are you ready to buy your dream home, but worried about the costs? Don’t worry, we’ve got you covered. No closing cost mortgages allow you to purchase your home without having to pay any of the assigned closing costs. That’s right, the mortgage lender will cover these costs on your behalf. Sometimes called zero-closing cost … Read more

Loans Not Serviced by Mortgage Lender: Obtaining a mortgage can be a complex and confusing process, as there are many factors to consider for both the lender and the borrower. One potential issue that may arise is if the lender does not handle the servicing of the loan. While this may not be a major … Read more

Retiring can be a major life change, and it often involves significant financial planning and decision-making. One important question that many people face as they approach retirement is whether they should continue to carry their mortgage into their retirement years or try to pay it off before they retire. This can be a complex decision … Read more

Traditionally, paying off the mortgage after 30 years was a common goal for Americans as they approached retirement age. However, recent research has shown that baby boomers, those born between 1946 and 1965, are carrying more mortgage debt into retirement than earlier generations. In fact, they are less likely to own their homes outright at … Read more

A quitclaim deed is a legal document that is used to transfer ownership and interest in a property from one person (the grantor) to another (the grantee). It is different from a warranty deed in that it does not provide any assurances or guarantees about the status of the property title. The grantee simply takes … Read more

Before visiting open houses and considering potential properties to purchase, it is common for potential buyers to first seek pre-approval for financing from a lender. This process usually involves filling out a mortgage application and providing necessary financial documentation. Many sellers expect buyers to have obtained pre-approval before entering into negotiations, as it demonstrates their … Read more

There are a few factors to consider when deciding whether or not to make extra mortgage payments. One key point to consider is the length of time you plan to live in the home. If you only plan to stay in the home for a few more years, it may not make sense to make … Read more

First-time home buyers, there’s good news for you! The Federal Housing Finance Agency (FHFA) has just announced a new mortgage rate discount program specifically for you. With the rising cost of homeownership and high mortgage rates, this relief program is a welcome opportunity to make the dream of homeownership a reality. The program applies to … Read more

The Good Neighbor Next Door program is a government initiative designed to encourage affordable homeownership and revitalize neighborhoods and communities throughout the United States. This program is an alternative to other programs and grants available to first-time homebuyers and targets community contributors, such as teachers, firefighters, and law enforcement personnel, who work in the area … Read more

Congratulations on your decision to purchase your first home! This is a major milestone that calls for plenty of celebration, from housewarming parties to sharing your new home photos on social media. Before you can fully enjoy your new home, however, you’ll need to take care of some financial details, such as your down payment. … Read more

The nursing profession is an integral component of society and produces excellent homes. The nursing profession often offers excellent starting salaries and long-term job security. In addition, they have a nursing school degree, which satisfies the criterion for a two-year work history that is imposed by the mortgage business. Mortgage companies are willing to work … Read more

Are you considering having a cosigner on your mortgage application to increase your chances of approval? It’s important to understand the responsibilities of a cosigner and whether it would be more suitable to ask for a mortgage co-borrower instead of a family member or friend before making this request. Keep in mind that buyers and … Read more

In the United States, around one percent of families file for bankruptcy protection each year. Many of these individuals will be able to qualify to purchase a home within the first two years following their release. This is because bankruptcies often result from medical bills and collections, which account for 62% of all bankruptcies. Additionally, … Read more

It is possible for home buyers to use funds from their 401(k) retirement accounts to make a down payment on a home, but this is generally not recommended. 401(k) loans were more commonly used in the 1980s and 1990s, when low-down payment loan options were not as widely available. However, today there are many other … Read more

Freddie Mac’s Home Possible® mortgage is designed to help low- and moderate-income households, as well as first-time home buyers, repeat buyers, and those looking to refinance, achieve the dream of homeownership. This mortgage program requires a down payment of only 3%, making it an affordable option for many people. In addition to offering lower mortgage … Read more

Improving your credit score is a relatively simple process, but it may take some time and effort. The most effective way to improve your credit score is to pay down your balances and make all your payments on time each month. If you need to increase your credit score quickly in order to buy a … Read more