Tag: Mortgage

Posted on 01/22/2023

If you have a VA loan, the U.S. government has options in place to assist you in case of financial hardship. There are multiple programs available to help you avoid late payments and foreclosure if your mortgage meets eligibility. Here are the major veteran mortgage relief options to know: Refund Modification A refund modification affects the principal and...

Mortgage

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Posted on 08/14/2022

FHA Loan: What to Consider When Applying for One

If you're in the market for your first home, there's a good chance you'll need to take out a mortgage. One of the most popular mortgage types (especially for first-time buyers) is known as a Federal Housing Administration (FHA) loan. What is an FHA Loan? Specifically, an FHA loan refers to one that is backed and insured by...

FHA

Fha

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Posted on 05/22/2022

The basics of a 15-year fixed mortgage

Prospective homebuyers and current homeowners know that a mortgage is likely to go hand-in-hand with your home, unless another arrangement has been made. However, there are many options available for those monthly mortgage payments, most commonly through 30-year fixed rate mortgages and 15-year fixed rate mortgages. Most know about the 30-year option, but what about the 15-year fixed...

15 Year Mortgage

Fixed Rate Mortgage

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Posted on 10/25/2020

"Subject-to" Real Estate Pros & Cons

Image by Gerd Altmann from Pixabay When you're considering buying real estate as an investment, it's a good idea to weigh the pros and cons. That's especially important with "subject-to" real estate, because there can be risks and rewards with this type of property that are different from traditional purchases. Here's what you should be considering, before you...

Investment

Home Loan

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Posted on 03/08/2020

What To Know About Mortgages As A First-Time Buyer

If you’re buying a home for the first time, you have a lot to learn. There are so many decisions that need to be made and new terms to be understood. While you may have been saving up for a downpayment, you’re most likely going to need t finance the majority of the cost of your home. Knowing how...

Mortgage

First Home

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Posted on 01/12/2020

Is a Balloon Mortgage Right for You?

Image by Jojje from Shutterstock Many people own homes through a mortgage agreement. Traditional mortgages are primarily fully amortized or gradually paid off with regular payments over the lifetime of the loan. Each payment contributes to both the principal and the interest. A balloon mortgage is a short-term home loan with fixed-rate monthly payments that only take care...

Mortgage

Financing

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Posted on 09/15/2019

Reasons Your Mortgage Application Could Get Rejected

A wise man once said to hope for the best, but plan for the worst. When you’re contemplating buying a house, even before beginning the actual application itself, it’s helpful to consider what could possibly lead to its rejection. This is especially important if you’ll be applying for your home loan at a traditional bank. These are particularly...

Mortgage

Loans

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Posted on 08/25/2019

How To Lower Your Closing Costs

The closing cost is the last sum of money home buyers to pay after which there will be no further payment. The closing price can be surprisingly huge. This bill ranges from 3% to 6% of the mortgage. Do the math, and this means that the closing cost on a $300,000 home is around $9,000 to $18,000. It...

Mortgage

Closing Costs

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Posted on 03/04/2019

Paying Off School Debt to Afford a Mortgage

The cost to attend university continues to rise, putting pressure on students to afford an education. While some universities assist their students, many raise their prices to contend with operating costs. As a result, students leave school with mounds of debt that impede their quality of life. Paying off student loans starts by laying the appropriate groundwork, which...

Down Payment

Loans

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Posted on 10/29/2018

VA Loans: Frequently Asked Questions

We all know that buying a home is expensive. For first-time buyers who don’t have the luxury of equity for a down payment, it can be difficult to find a way to finance your home without taking on a huge interest rate and mortgage insurance.Fortunately, loan programs like those offered by the U.S. Veterans Affairs can be a godsend....

Va Loans

Mortgage

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