So what is an open mortgage you ask? Well you have come to the right place. Read on to find out exactly what an open mortgage is. An open mortgage gives you the ability to to pay a portion or the entire amount of your existing mortgage at any time. When you do this you will […]
What do you think is the biggest factor in determining the price of a mortgage? Is it: -The interest rate? -Your down payment? -The cost of the home? -Or is it something else? The price of your mortgage will have an impact on your payments. Generally speaking, the higher your mortgage is the higher your payments will
THE BIGGEST FACTOR IN DETERMINING THE PRICE OF A MORTGAGE IS Read More »
If you are wondering, ‘what is a reverse annuity mortgage?’, don’t worry… you are not the only one. Simply put a reverse annuity mortgage is a loan. It is a loan that is secured against the value of your home. It allows the homeowner to start using some of their home’s equity, without having to
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Step One: Take the pre-licensure class If you are interested in how to become a mortgage broker, here is some important information you need to know. All mortgage brokers have to be licensed in order to practice within the industry, and new brokers have to complete a what is called a “pre-licensure program.” They have
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How long does it take to get a mortgage? Probably longer than you think. When lenders are issuing a mortgage, there is a lot of due diligence that they have to do. Some of these tasks include, verifying the purchaser’s income, assets, and doing a credit check on the borrowers. They may have to confirm their
how long does it take to get a mortgage? Read More »
sell your house If you are wondering how to get out of a mortgage, there is one important thing for you to know. The fastest way to get out of your mortgage is to sell your home. If you do this you can then use the proceeds of the sale in order to pay off
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It is strange name but the concept is simple. This is a mortgage that is given to the buyer, by the seller as part of the transaction. This is also known as seller or owner financing. This type of arrangement usually happens in situations where the buyer cannot qualify for a traditional mortgage from a lender.
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A very important thing to know about mortgages is the concept of ‘collateral’. Yet, mortgages can be very complicated if you don’t know much about them. Whenever you get a mortgage, you will almost always need to put up a form of collateral as a guarantee that you will pay back your debt. When you take
WHEN YOU TAKE OUT A MORTGAGE YOUR HOME BECOMES THE COLLATERAL Read More »
