Planning for retirement can be a daunting task, long-term care, investments or annuities, lack of retirement income. These all lead to unnecessary frustration. A reverse mortgage could settle some of that headache. Since most seniors will have need to reduce their current spending while retired, a reverse mortgage may provide the added cushion most people feel they need even before…
Category: Mortgage
Mortgage Broker Training Tips
If you want to be a successful mortgage broker there are a few things that you can do to increase your chances. There are thousands of mortgage brokers across the world, and to set yourself apart you are going to have to be the best at what you do; there is no two ways about it. Here are seven mortgage…
Pmi Private Mortgage Insurance
Many a first-time homebuyer has grumbled about paying private mortgage insurance. This article discusses the particulars of private mortgage insurance, also known as “PMI.” Private Mortgage Insurance Unless they owners are insane, every business in the United States carries some form of insurance to protect against losses. The various lending institutions that issue home loans, equity lines and refinances to…
Mortgage Loan Understanding Fico Scores
Apply for a mortgage loan and you’ll soon become familiar with FICO scores. Here’s a primer on the infamous FICO scoring process. FICO scores are merely a mathematical representation of your credit record. Credit records are simply a recording of your debts and assets. Credit card balances, for instance, are a debt that appears on your credit record, as do…
Getting A Home Inspection
If you are in the process of purchasing a new home, it will definitely be in your best interest to have a home inspection done. Not only will you want to have a home inspection done for your own sake, and peace of mind. But most lenders will require that you have a home inspection before they will proceed with…
Types Of Mortgages Available
Types of Loans What types of loans are available to me? There are many different types of mortgage offered to consumers. Some of the most popular mortgage broker are the FHA Home Loan (Federal Housing Administration) and the VA Loan . Because the FHA mortgage and VA mortgage are guaranteed by the government, borrowers are able to make a smaller…
Private Mortgage Insurance Your Rights And Responsibilities
An often overlooked cost of buying a new home is private mortgage insurance, usually simply called PMI. The basic idea behind PMI is simple. When a home buyer buys a house with less than 20% of the home’s value as a down payment, the mortgage lender assumes a larger risk. In most cases, the lender will require that the buyer…
Reasons To Refinance When Rates Are Moving Up
Interest rates have enjoyed record lows during the last few years allowing many people to refinance and enjoy lower mortgage payments. Now, interest rates are moving in the other direction. The average 30 year fixed rate, according to mortgage giant, Freddie Mac, was 6.31% last week. Still, during this same period, refinancing accounted for 43.6% of mortgage applications. Why would…
How To Use A Low Mortgage Rate Market
The basic reason we look for a loan with a low mortgage rate is to save money, get out of debt quickly or simply to better our financial position. Here, you will be provided with the perfect guidance on how to use a low mortgage rate market to the fullest. The tips below will guide you to select the right…
Mortgage Factors Loan To Value
When applying for a home loan, there are a number of factors you have to take into account. Loan to value is one of the key issues that will determine whether you get that loan. Mortgage Factors: Loan to Value When considering an application for a mortgage, lenders look at a number of factors. Regardless of the type of loan,…