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Mortgage loan
Understanding mortgage closing costs
By Ken Go
After saving for a down payment, looking for a home, and applying for a mortgage, closing costs can be an unpleasant and stressful surprise. Knowing what closing costs cover and budgeting for them will make the last step!-->!-->!-->!-->!-->…
How do you pay off a reverse mortgage?
You may have heard retirees describe themselves as “rich in assets but poor in money”. Essentially, this means that even if they have their own home, they might have a hard time making ends meet. Sometimes even maintaining their home can…
Data shows mortgage services helped homeowners stay afloat during pandemic
Millions of Americans have lost their jobs, and many have seen their incomes take a noticeable hit during the coronavirus pandemic. This spread to homeowners, many of whom could no longer meet their mortgage payments.The CARES law, which…
Thinking about taking out a big mortgage? Do this first
Are you considering taking out a new mortgage with a higher monthly payment than what you are currently making?Many people make this decision when they leave a home from home. And, in some cases, it is the right financial choice for their…
Does it still make sense to get a subprime mortgage?
A subprime mortgage is a mortgage loan granted to borrowers who do not qualify for a loan at a competitive interest rate. Interest rates with a subprime loan are usually very high, which can make borrowing much more expensive.In most…
What is a stated income mortgage?
Many homebuyers need a mortgage that allows them to verify their income using non-traditional documents. A stated income loan fills this need.What is a stated income mortgage?A stated income loan is a mortgage in which the lender verifies…
Mortgage loan modification: what is it?
How to get a mortgage loan modification
Your ability to get a mortgage modification will depend in part on how you go about it. It is crucial that you take the following steps to give yourself the best chance of getting…
What is an assumable mortgage loan?
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What is a mortgage originator?
You are ready to buy your dream home and now is the time to start the mortgage process. This is where a mortgage originator comes in. Here's what loan originators do and what you can expect when working with a mortgage lender.What is a…
How to navigate the mortgage closing process
Mortgage closing, sometimes referred to as a settlement, occurs when you sign the documents to buy a home. Remember how much paper you had to sign to buy a new car? Multiply that by a factor slightly less than infinity to get an idea of…