Home Loans

3 Reasons It’s Time To Refinance Your Car

Time to refinance your car…or maybe it isn’t? Check out our three reasons it’s time to refinance your car below: 1. Your credit score has improved – When you first bought your car you had no credit history or you

One Super Reason to Buy a House with a Friend

Buying a home is not easy nowadays, and many struggle with getting approved by a financial institution. Some of the minimal requirements today are a credit score of 680 and a 5% down payment, which are tough on many people. Therefore,

How to Decide on the Term of the Loan

If you need a personal loan, the sooner you pay it off the better. Lenders view long term loans as risk, and therefore they often reserve their best personal loan rates for short-term loans. Short term loans are usially considered around

Government-Backed Loans

There are three types of government-backed mortgages: USDA loans, which are backed by the U.S. Department of Agriculture, help buyerswho meet income requirements and want to buy a rural property. VA loans, which are insured by the Department of Veterans Affairs, help current

Don’t Fall For That Unrealistic Mortgage Offer

Most house hunters begin the search process armed with at least a loose monthly budget that informs their purchase price limits, yet research shows that as many as 35 percent of approved mortgages are financially unrealistic for consumers. This disconnect

Buying A Short Sale: Things To Know

When a seller’s debt on a home surpasses the property’s market value, they may choose to avoid foreclosure by selling their home as a short sale. This requires bank approval, since it means the lender will be accepting less for

Private Lenders Are Offering Home Loans to Borrowers Rejected By Banks

Since the financial crisis, many traditional mortgage lenders have retreated from financing borrowers who appear risky, due to poor credit scores, a troubling debt-to-credit ratio or less than a 20 percent down payment. Seeing a hole in the market, some

The Lending Lexicon: Mortgage Terms to Know

Most prospective home buyers walk into the process knowing the basic terminology associated with mortgage loans, interest rates and closing costs. When it gets down to the nitty-gritty, however, many become lost in the jumble of letters, numbers and multisyllabic

Mortgage Refinancing: What To Expect

As mortgage rates continue to hold steady at near-historic lows, many homeowners are considering a refinance. This means applying for a new loan with better terms, which will typically allow for lower monthly payments, a faster pay-off, or both. If

Four Things to Know about Reverse Mortgages

If you’re a senior aged 62 or older, you may be considering a loan product known as a reverse mortgage. Reserved for those in the above-referenced age bracket only, a reverse mortgage allows a qualifying homeowner to borrow against their

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