The government’s rule tightening for reverse mortgages has opened a window for new proprietary reverse mortgages. While the HECM does meet the needs of most borrowers, “All New 2019 Jumbo Reverse Mortgage”
You’ve finally found the perfect home for your family. Now the only thing standing between you and domestic bliss is the loan process. Use these techniques to shorten the amount of time between placing your bid and getting the final approval on your new home mortgage.
Securing the best conventional mortgage rate possible can pose a challenge for even veteran property buyers.
For first-time home buyers, closing costs are a major hurdle for home ownership. Coming up with a down payment and several thousand dollars for closing costs can be hard without home equity to tap.
When trying to decide what to do, compare the cost of refinancing with what it would cost you in additional interest to hold on to your existing loan. While the breakdown is different for every borrower, generally, you’ll need to keep your current house and loan for anywhere from three to six years to break even on the costs of refinancing.
Like credit cards or car loans, some mortgages allow borrowers to have co-signers on the loan with them, enhancing their application. However, a co-signer on a mortgage loan doesn’t have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer.
U.S. military veterans have opportunities to enjoy some richly-deserved benefits in other aspects of their lives, including some special options for financing their homes. VA loans may give active military personnel, retired veterans, and sometimes surviving family members of veterans the ability to purchase homes that might not prove available to them through more conventional mortgage loans.