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How Has the CORONAVIRUS Affected Mortgages?

Six ways the CORONAVIRUS Pandemic has affected the Mortgage Market: What Consumers Need to Know   The Coronavirus pandemic has had a profound effect on our society, with a tragic loss of human life and crippling of our economy. From retail to travel to housing, there is no industry that hasn’t felt the sting. But the mortgage market has experienced unique and sometimes contradictory manifestations of the pandemic, with both good and bad news for buyers and homeowners who wish to refinance. Rates remain low…and lower! First, the good news: Mortgage interest rates h...

June 9th, 2020 | mortgage, covid-19, How Has the CORONAVIRUS Affected Mortgages?

Blog Image: Understanding Mortgage-related Insurance

Understanding Mortgage-related Insurance

When you buy a home with a mortgage, you will be required to pay all sorts of insurance, including homeowner’s insurance, title insurance and private mortgage insurance. What are all these policies and why do you have to pay for them? Homeowner’s Insurance Homeowner’s insurance is a policy that protects you against loss if your property or any structures on it are damaged. This covers damage from fire, storms, and vandalism. If you are unable to live in your home because of one of these issues, the insurance will also cover the cost of temporary housing while your home ...

June 3rd, 2020 Understanding Mortgage-related Insurance

What is Mortgage Insurance?

If you’re buying a home but don’t have a sizable down payment to invest, your best option may be a loan that charges mortgage insurance, such as an FHA or VA loan. Since all lending is based on risk, there may be some cases where the lender wouldn’t want to approve a borrower for a mortgage without some guarantees or safeguards (or, they’d raise the rates/cost so high to account for that risk, it wouldn’t make sense). That’s where Mortgage Insurance (MI) or Private Mortgage Insurance (PMI) come in. Most common with Federal Housing Administration (FHA)-...

February 28th, 2020 | mortgage, What is Mortgage Insurance?

10 Things You Should Know About Credit Before Buying a Home

10 things you should know about credit before buying a home.   Homeownership is still the bedrock of a strong financial future, with more than 64% of Americans owning their own home now and many more to come thanks to record-low interest rates. But no matter who you are, how much money you’ve saved, and whether you’re buying your first home or downsizing in retirement, your credit score is fundamental to qualifying for a mortgage. Here are 10 things that you should know about credit before applying for a loan and buying a house! Start early. It is...

February 12th, 2020 | refinance, credit, buying, credit score, 10 Things You Should Know About Credit Before Buying a Home

VA Home Loans

All you Need to Know About VA Loans VA home loans are one of the best mortgage programs available today. Veterans of the military, as well as certain active members, may be eligible to receive 100% financing at low, competitive interest rates and with flexible guidelines. It doesn’t get much better than that! Keep reading to learn everything you need to know about the VA no money down home loans. What are VA Loans? A VA loan is 100% financing for eligible borrowers. In order to qualify you must: Have served in the military during wartime for 90 days or more Have served in...

January 21st, 2020 | VA Loans, mortgages, loans, VA Home Loans

First Time Home Buyer Loans – What you Need to Know

Are you a first-time home buyer? If you are like many others, you have avoided buying a home because of a lack of down payment or because you don’t have perfect credit. Guess what? You don’t need either of those – there are many flexible loan programs out there today making it easy for borrowers in all stages to buy a home. Check out the top programs available to you today. FHA Loans – The Original First-Time Home buyer’s Loan FHA loans have always had the nickname ‘first-time home buyer’s loan.’ While today anyone can use this program (...

January 6th, 2020 | first time homebuyers, loans, First Time Home Buyer Loans – What you Need to Know

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