Facts Behind Using a Mortgage Broker Since the real estate crash of 2008, mortgage brokers are under close scrutiny by the Consumer Finance Protection Bureau for the information they give potential borrowers. Although the majority of brokers try to quote the best rate for consumers, some in the industry feel brokers do not have the […]
Refinancing a Mortgage to Lower Interest Rates When securing a mortgage, basing long-term financial planning on current interest rates can often be short sighted. Refinancing to take advantage of future interest rates that may be more favorable can help to reduce future expenses and ensure that home and property owners are less likely to incur […]
The Impact of Interest Rates on Reverse Mortgages When seniors are having trouble managing their bills and paying for the upkeep on their homes, they have two choices. They can sell the home and move or they can get a reverse mortgage that allows them to stay in the house they love while also tapping […]
Knowing Your Options When Applying for a Mortgage Loan When applying for a mortgage, is a loan with a fixed or variable rate better for you? The answer to that question depends on your credit situation and how long you may own the home for. You will also need to know more about how much […]
Reverse Mortgage Longstanding and Ongoing Fees The concept of receiving monies every month through a reverse loan can seem appealing, but a borrower should understand that he or she will still pay fees. Various ongoing fees come with reverse mortgage agreements. The following are a few of those fees. An interested homeowner should consult with […]
Know Where You Stand with a Mortgage Affordability Calculator For those who are looking to buy a new home in the near future, the first thing that you need to do is run a mortgage affordability calculator simulation. These new calculators are now available to you at most banking locations, and they will provide you […]
The Closing Fees in a Reverse Mortgage Reverse mortgages can benefit many senior citizens who want to remain in their homes until they pass away, but the fees can be problematic. The loans can provide those persons with the security and the monthly income that they need. However, the closing costs of such loans can […]
The Facts Behind a Mortgage Many consumers often believe they understand the basics behind mortgages but sometimes neglect to truthfully ask themselves, “what is a mortgage and how does a mortgage work”? The industry lists the term ‘mortgage’ in many different ways, but there is only one true definition. Regardless of the amount of variations […]
Reverse Mortgages Designed To Help Older Homeowners When a homeowner turns 62 years of age, they may want to learn what is a reversed mortgage. It is a special type of loan. It enables homeowners in this age bracket to convert a portion of their home’s equity into cash. The homeowner does not have to […]
What You Need to Know When Buying a Home Buying a home is the biggest financial commitment that most people will make in their lives, so it is important to do it right. Whether you are a first time home buyer or a seasoned pro, there are some tips you should follow to make sure […]