Your credit score is as American as the star-spangled banner. In the Land of the Free, credit is key. There might be a pang of irony in this reality but the rules are set in stone: in modern day USA, the American dream is tied to your three-digit credit rating. Of course, not all Americans… Read More
Blog
Here’s Why You Should Think About Getting a Mortgage Pre-approval
Buying a home and applying for a mortgage comes with different processes that require a good amount of effort and preparation. Preparing for these processes are critical. If you don’t put effort into preparing, it could compromise how smoothly these processes would go. Since buying a home is probably one of the biggest investment you’ll… Read More
The Benefits of Reverse Mortgage
Reverse mortgage products are often misunderstood. A lot of eligible seniors shy away from the product because of the hefty fees associated with it. Other misconceptions stem from knowledge of old programs during the subprime lending era. Old and outdated information about existing reverse mortgages may prevent seniors from reaping the wondrous benefits of a… Read More
The Drawbacks of a Reverse Mortgage
We all know what a reverse mortgage is. Well, perhaps the basics. It is a mortgage loan program specifically designed for senior homeowners. One very common reverse mortgage program is the Home Equity Conversion Mortgage or the HECM. It is offered by the Federal Housing Administration. Just like any FHA loan, the HECM is government-guaranteed…. Read More
Let’s Talk About Credit Scores
What are credit scores and what is its role in the financing process? This article discusses the fundamentals of the whole credit scoring system. One of the most vital parts of the lending process is a borrower’s credit score. This is the three-digit number that lenders use to decide a borrower’s risk. This is used… Read More
Consider These Things If You Want To Refinance Your Mortgage
Deciding to refinance your mortgage can come from different reasons. But keep in mind that deciding to refinance should be thought of very carefully. You need to assess whether or not refinancing your existing home loan is the next best option for you. Besides that, it’s also a good idea to learn about different mortgage… Read More
Is Short Sale an Option When You Can’t Repay Your Mortgage?
A short sale happens when you sell your property for less than what you owe on your mortgage. It’s a sale where the proceeds fall short of your outstanding mortgage balance. But how is it an option for you or any other homeowner? And why do lenders agree to it? Not all borrowers can religiously… Read More
The Truth About No-Cost Refinances
For the cash-strapped borrower, a no-cost refinance seems like a very attractive deal. And who would say otherwise when the lender pays for all closing fees? Per traditional mortgage calculation, closing can cost the borrower around 2 to 5 percent of the overall loan amount. So if you’re taking out a home that is valued… Read More
The Overlooked Benefits of Reverse Mortgage Everyone Must Know
American seniors who own their homes during their retirement see them not just as houses but priceless possessions. The very structure that they call home can actually be a great source of wealth just waiting to be tapped. Home Equity Conversion Mortgage One reverse mortgage program that is popular with seniors is the Home Equity… Read More
Different Home Loan Calculators That Might Be Useful For You
Mortgage and real estate tools online help borrowers easily determine what their expectations are if ever to decide to get a mortgage. Home loan calculators are some of those tools that, individually, have different purposes but as useful as the other. And while these would only give you a good estimate, you’d still have to… Read More
