There is no denying the fact that your home is one of the biggest investments you will ever make. For this reason, you want to ensure that it is kept safe in the event of your death. This is why so many people opt to purchase mortgage protection insurance. With this policy in place, your family is guaranteed a tax-free payout if you pass on. This money can then be used to make mortgage payments. Here...
As you search the market for your next home, don’t forget to spend an equal amount of time on the process of securing a mortgage. Without this, you may find it impossible to move forward with a purchase. Generally speaking, there are two ways to secure a mortgage: • Work with a broker.• Search and compare lenders and loan products on your own.There are pros and cons of both, but for the sake of this article...
If you find yourself unable to make your mortgage payment, it’s not time to give up your home just yet. There are steps you can take to remain in your home, all without putting your finances in jeopardy. Conversely, it may be time to leave your home in the past and start fresh. It all depends on your situation and what you hope to accomplish. Here are several ideas to consider: 1. Loan Modification When your...
If you are buying a home for the first time, the process can be overwhelming (to say the least). Not only do you need to find the right home, but it’s likely that you will require a mortgage to complete the purchase. Nobody wants to choose the wrong type of loan. Furthermore, nobody wants to get hooked up with a mortgage lender that doesn’t have their best interests in mind. That being said, here are seven...
If you are interested in an FHA loan, you are not alone. But before you can apply for and take advantage of this type of loan, there are a few things you need to know.Here is how Zillow defines an FHA loan: “An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Nowadays, FHA loans are very popular, especially with first-time home buyers because the requirements are less strict than...
Do you have a mortgage? Are you interested in a possible refinance? If so, you won’t have to look far to find a few lenders that are willing to help you out. Before you decide for or against a mortgage refinance, it is important to answer several key questions. The answers you collect will help you decide which steps to take next. Below are five mortgage refinance questions you need to answer right now: Will you...
Are you confused by how a mortgage rate lock works? Are you wondering if this is something you should even consider? When buying a home, you want to take as much guess work out of the process as possible. By locking your rate at the appropriate time, you can gain peace of mind in knowing that it will not increase before your closing date. As you work with your lender, be sure to ask these five...
Are you in the market for a new home? Have you come to the realization that securing a mortgage is the only way to pay for your purchase? Generally speaking, you have two options for finding a mortgage: • Communicate directly with multiple lenders, eventually deciding on the one that is best for you. • Hire a mortgage broker to “shop around” and explain your many options. The primary benefit of using a broker is time...
There are not many things in life more exciting than buying a home. This is particularly true if you are doing so for the first time. Of course, your excitement can soon turn into stress if you are denied a mortgage. If this happens, it may not be possible to move forward with a purchase at the present time. There are things you can do in advance to improve your chance of an approval. Here are...
When buying a home, most people realize the importance of qualifying for a mortgage. After all, they don’t have the cash to make an outright purchase. Despite the fact that a mortgage is typically necessary, most homeowners dream of the day when this expense is out of their life. Before you get too far ahead of yourself, consider these three benefits associated with a mortgage: 1. Mortgage Interest Deduction Did you know that the interest paid...
