What is verification of income and assets? We're provided a short answer for you in this post...but we'd be happy... read more →
Do you need to choose between pre-approval vs pre-qualification? The two sound similar in nature, but there's an importance difference... read more →
If you're interested in buying a condo or townhouse, you may need to budget for homeowner's association (HOA) fees.... read more →
The newest trend in the housing market is flipping houses. Just look at all the shows on HGTV that... read more →
Short sales vs foreclosures? Both are often viable options made available to people behind on their mortgage payments, have a... read more →
Rent-to-own vs Mortgages - what is the difference? Home ownership is an important step in everyone’s lives. When it’s... read more →
Are you feeling bored with your bathroom but don’t necessarily have the funds to do a full renovation? No... read more →
The Mortgage Process Have you ever wondered about what steps your loan goes through before closing? Wonder no more! Here... read more →
Down Payment A down payment is a type of payment made in cash at the beginning of the purchase of... read more →
The Tax Bill and Homeownership The House and the Senate have agreed on a compromise plan for the tax bill.... read more →
Tenants-in-common Tenants-in-common is an arrangement that is characterized by multiple people deciding to purchase one property together. This can be... read more →
What is Bitcoin? Bitcoin, created in 2009, is a cryptocurrency that exists in a digital form. Recently, Bitcoin has become... read more →
Verification of Employment When applying for a mortgage loan, a lender will have to verify your employment. The lender needs... read more →
Basis Points What are basis points? Basis points are a common unit of measurement for interest rates. A basis point... read more →
Paying off your mortgage early Paying off a mortgage early is something that many borrowers may be interested in. However,... read more →
How does foreclosure work? Foreclosure occurs when a borrower fails to meet loan obligations. Foreclosure rights and procedures are different... read more →
Purchase-Money Mortgage A purchase-money mortgage is a loan that the seller of the property issues to the buyer. It is... read more →
Mortgage Lenders A confusing part throughout the mortgage process is confronting the many different types of lenders that deal with... read more →
The Acceleration Clause An acceleration clause allows a lender to demand that a borrower pay back the entire loan at... read more →
Graduated Payment Mortgage A graduated payment mortgage (GPM) is meant for people who aren’t able to afford large monthly payments... read more →
Mortgage Reinstatement Mortgage reinstatement is the restoral of a mortgage to its original condition after a borrower defaults. This means... read more →
Selling a Home with More Than One Mortgage Selling a home with two mortgages is very similar to selling a... read more →
Balloon Mortgages A balloon mortgage is a type of mortgage in which you make normal monthly payments for a set... read more →
Underwater Mortgage Unfortunately, you never know what the housing market is going to do. Whatever the housing market is doing... read more →
Refinancing with a VA Loan The Veteran’s Administration loans, or, VA loans, are a home-mortgage option available to veterans, current or... read more →
Residential Mortgage-Backed Security A residential mortgage-backed security, or RMBS, is a type of mortgage-backed debt obligation. The cash flows come... read more →
What are lender credits? Not everyone has the ability to pay the closing costs. If you are in the position... read more →
Is a basement included in the overall square footage of a home? When researching new homes or you are about... read more →
Subprime vs Prime Mortgages There are two major categories for loans for borrowers, prime mortgages and subprime mortgages. Subprime mortgages... read more →
What is a chattel mortgage? A chattel mortgage is a loan agreement where movable personal property is used as security... read more →
Delinquency and Mortgage The term delinquent describes something or someone that fails to accomplish what is required, such as failure... read more →
What is a second mortgage? A second mortgage, or junior lien, is a loan you take out using your house... read more →
Buydown Mortgages There are many different options when it comes to payment for a mortgage loan. One of those options... read more →
For whatever the reason may be, many families choose to become a one-income household at some point in their lives.... read more →
A divorce means splitting up the assets you have obtained throughout your marriage. One of the more difficult assets to... read more →
The Differences Between Conforming & Non-Conforming Loans Many people apply for loans when paying their mortgage. Two common types of... read more →
What is a reverse mortgage? A reverse mortgage is a mortgage loan for senior citizens which requires no monthly payments.... read more →
If you are looking to subsidize a large purchase or debt a high-interest loan may not be the best option.... read more →
When you have high interest debt on auto loan, credit cards or other loans, they could be difficult to pay... read more →
When a close friend or family member is getting a mortgage, they may ask you to be a co-signer or... read more →
If you are behind on mortgage payments, you may be thinking about how to catch up. One thing you may... read more →
When you start thinking about buying a home, you may have a lot of questions. Instead of searching the internet... read more →
First-Time Home Buyer Programs Most first-time home buyers find it overwhelming to choose a satisfying mortgage program. Although many first-time... read more →
What is PMI? Private Mortgage Insurance (PMI) is an insurance policy that protects lenders against loss if borrowers stop paying... read more →
Mortgage overlays are company specific rules that a lender must follow. These are on top of the published guidelines for... read more →