If you bought your house on a mortgage, the chances are high that you have read or heard about mortgage refinancing. This terminology refers to trading in an existing home loan with a new one under different and often better terms. Though this might not sound like a big deal, you stand to reap a lot of benefits, as discussed below. 1. Save Money Mortgage refinancing is a financial tool that can help you save money.
16 July 2021
If you're buying a home, chances are that you need financing in order to purchase it. That's where local area lenders come in since they can help get you a mortgage to help pay for it. However, there are different types of mortgages available, and it helps to know the differences between them. Fixed-Rate Mortgages The most popular type of home loan is a 15 or 30-year fixed-rate mortgage. Many home buyers pick the 30-year option because it makes their home payments affordable with the lowest monthly payment over the course of the entire loan.
2 June 2021
Most first-time homebuyers have many questions about the mortgage process, mainly because they have never gone through the experience before. If you are a first-time homebuyer and have questions, you are not alone. As a first-time homebuyer, one of the best things you can do is to hire a lender that specializes in working with people buying their first homes. Here are some of the questions you can ask a specialist as you begin preparing to get your first mortgage.
28 April 2021
Are you eligible for getting a section 184 home loan and want to know more about it? Here are some of to know about this unique mortgage program that is offered to Native Americans looking to purchase a home. The Down Payment One of the nice advantages of a section 184 home loan is that the down payment requirements are fairly small compared to other mortgage products out there. You only need to have a down payment that is 2.
22 March 2021
Did you know that government entities insure some mortgages? Now, this is not true for all mortgage loans, but it is true for three common types. If you choose one of the following types, your mortgage will have insurance from a government organization. Here are the three types of government-insured loans and information about each type. FHA Mortgage Loan The entity that provides insurance for FHA loans is the Federal Housing Administration.
11 February 2021