What is Mortgage Insurance? Say you buy a house with a down payment of less than 20% or even if you refinance with less than 20% equity. In each case, your lender will require you to buy mortgage insurance. The idea of paying a mortgage insurance is to reimburse your lender if you default on … Continue reading "Mortgage Insurance"
What is the difference between FHA Loans vs. Conventional Loans? Both FHA Loans and Conventional Loans are popular loans among homebuyers. It may not always be so clear which loan to get when buying a home. In this blog post, I will be delineating the pros and cons for both FHA and Conventional Loans. This … Continue reading "FHA Loans vs. Conventional Loans"
Thinking to pay off your mortgage early? Is retiring mortgages early a good idea for a borrower? Doesn’t it sound good to not have to worry about monthly payments for the house you bought? I mean think of all the other things you can put your energy towards. Yes, it sounds like a good option. … Continue reading "Is it a Good Idea to Pay Off your Mortgage Early?"
What is the difference between Mortgage Pre-qualification v. Pre-approval? Before I elaborate on the difference between a pre-qualification v. pre-approval, I will give a brief outline on the difference between the two processes.
Should you consider using a mortgage broker when buying a house? When you are looking to buy a new house, you are usually trying to find a perfect mortgage loan for the property. Moreover, finding a perfect mortgage loan that fits your financial needs and even your lifestyle is a big job. Finding a good … Continue reading "Is getting a Mortgage Broker Worthwhile?"
Alternative Loan Secrets In the mortgage industry, the borrower has a good amount of requirements to meet in order to get a loan. Proof of income usually comes on top of the list. I mean, without it how does the lender expect the borrower to qualify for the loan? It is quite important for the … Continue reading "Alternative Loan Qualification Secrets"