Articles about Mortgages

If you’re looking to buy a townhouse or condominium, it’s important to note there are some significant differences between the two.
A condo is more of a legal definition than anything, referring to how the property is owned and managed.
If you were to purchase a condo, as opposed to a townhouse, you would own just the [...]

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Now more than ever, opportunities to purchase and profit from investment properties are everywhere.
If you’re thinking about purchasing an investment property, though, there are a number of things you need to know about the financing. For example:
Down Payment:
Expect to put down a minimum of 25%. While minimums used to be much lower and are currently [...]

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If you are planning to purchase a home, but have limited funds or credit challenges, a rent-to-own option may be the best way to go.
A rent-to-own option, also known as a land contract, has many benefits, some of which can include the application of some of your rent money toward a down payment, some type [...]

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Did you know that you may still be able to refinance - even if you have little or no equity in your home?
With record-low interest rates holding firm, it might be wise to look at your options.
There are two big myths going around today about refinancing.
The first myth is that you need at least some [...]

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One of the best things that you can do when you apply for a mortgage is to, as the Boy Scouts say, be prepared.
With all the scrutiny that loan files undergo these days, the better documentation you can provide up front to your lender, the more smoothly the process will go.
Nothing slows the mortgage process [...]

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Now that the school year is over, it might be time to think about where your children are going to live when they go to college. The Federal Housing Administration (FHA) has a great program that will fit this bill perfectly.
It is called the Kiddie Condo loan program, and it allows parents and their children [...]

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Short sales and foreclosures are facts of life in the real estate market these days.
There is a good chance, then, that agents and clients will encounter them when they go to purchase a home or investment property.
Short Sale
Short sale means that the lender on that property wants to sell it and is going to accept [...]

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In a nutshell, Fannie Mae and Freddie Mac are intermediaries. They buy loans from lenders and then turn around and sell them to investors.
Most mortgages, regardless of the type, are originated with the expectation that they will be sold after they close.
Loans that are kept in-house, by a big-box lender or perhaps a smaller bank, [...]

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If you are looking to purchase or refinance a home, or apply for any type of credit, you may be having some challenges.
This could be due to items that are on your credit report.
Some type of credit repair, or restoration as it is sometimes called, may offer some benefit, depending on your situation.
Credit restoration is [...]

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Mortgage escrow accounts can be beneficial to homebuyers.
But there are a few things homebuyers should know about them.
First, mortgage escrow accounts are like savings accounts for homeowners.
Money deposited in them is used by a lender to pay your property tax or insurance bill when it is due.
With an escrow account, your lender will pay the [...]

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