Reverse Mortgage

Reverse Mortgage Reverse Mortgage What is a reverse mortgage? A reverse mortgage is a type of loan that allows homeowners to borrow against their home’s equity. Most homeowners get what’s called a home equity conversion mortgage (HECM). A HECM loan is backed by the Federal Housing Administration and is only available through FHA-approved lenders. Other types of … Read more

Mortgage Closing

Closing means commitment Closing on your mortgage is the last step in buying your home with a mortgage. Once you’ve completed the closing process, you become the legal owner of your home. Obviously, this is one of the most important and critical steps, because without closing, you don’t actually own your home. We’re going to take you … Read more

Credit Score To Refinance Mortgage

What Credit Score Is Needed To Refinance A Mortgage? We discuss here the credit score to refinance mortgage. Good credit scores are crucial to the refinance process; lenders typically reserve the best rates and conditions for borrowers who have a highest numbers. While working to raise scores may yield a lower interest rate down the … Read more

Home Appraisal

Home Appraisal For Mortgages Home appraisal for mortgages. There are many factors that can lead to a mortgage denial when you’re trying to buy a home. One of the most common things that can stand between you and an approval is an issue with the property’s appraisal. What is a home appraisal? An appraisal is a written … Read more

Homeready vs Homepossible

Differences Between Homeready vs Homepossible Including A Comparison With FHA Loans Is a large down payment the only thing standing between you and your dream of owning a home? Then you should know it is possible to buy a house with a small down payment, low to moderate income and less than stellar credit. FHA … Read more

Refinance Mortgage

Refinance Mortgage Refinance mortgage. If you’re a homeowner who’s re-examining your mortgage in 2022, you may find yourself considering refinancing it. Before you dive into the process, there are some things you should know. To refinance a mortgage, homeowners first pay off their current loan and replace it with a new mortgage. This may allow … Read more

What Credit Score Is Needed To Buy A House?

What Credit Score Is Needed To Buy A House? What credit score is needed to buy a house. If you’re hoping to become a homeowner, your credit score may hold the keys to realizing that dream. Knowing the minimum credit score needed for a home loan gives you a baseline to help decide if it’s … Read more

Escrow Account

What Is an Escrow Account and How Does It Work? An escrow account is a form of savings account routinely used both during and after the real estate purchase process. Consumers don’t typically shop for their own escrow account. Instead, escrow accounts are established by a lender. They’re used as deposit accounts for earnest money … Read more

Mortgage Requirements

Mortgage Requirements If you plan to buy or refinance a home, having a basic grasp of minimum mortgage requirements will help you zero in on the best home loan for your needs. Knowing the lending guidelines for income, debt, credit scores and down payments puts you in a better position to shop around for a … Read more

PMI Insurance

PMI Insurance Explained: What It Is and Why You Should Have It When you decide to purchase a home, there’s a laundry list of considerations you must keep in mind. Just for starters, you have to pick a location you’re comfortable committing to, find the perfect house and determine what you can afford. That last calculation … Read more