Should You Pay Off Your Mortgage Early?
The thought of paying off your mortgage early is an exciting one as you will no longer have to pay interest on your home. But both the pros and cons of paying off your mortgage early should be considered before you actually do so if you have the means. In some cases...
What is a Blanket Mortgage, and Who Should Get One?
A blanket mortgage is a single mortgage that covers multiple different properties. The group of assets serves as collateral for the loan. Many real estate developers and large investors often purchase more than one property at a time and a blanket mortgage allows them...How Many Names Can Be on a Mortgage?
As home prices increase it is not uncommon for homebuyers to purchase a home with another party. But how many names can you have on a single mortgage? The answer to this question is that there is no actual legal limit as to how many names can be on one single home...
The Reason Jumbo Mortgage Rates are Lower
A jumbo mortgage is one that loans out a larger amount of money than the highest amount allowable to loan out for a conforming or conventional loan. Currently, jumbo mortgage interest rates are at a 25 year low and their current rates are even lower than traditional...
How to Refinance the Mortgage on a Rental Property
Refinancing an investment rental property is very similar to the refinance of a primary first home that you live in most of the time. There is one big difference though: you will need to document the proof of your rental income. In the eyes of a mortgage lender, a...
Mortgage Requirements are Beginning to Ease Up for Borrowers
There is good news for mortgage applicants, qualifying requirements are beginning to ease up after the strict tightening we saw at the height of the pandemic. According to reports mortgages were around 2.2% easier to attain approval on in April as compared to March....
New Mortgage Refinance Could Help Millions of Homeowners
There is a new mortgage refinance program being launched shortly by the U.S. government. Eligible borrowers will be able to refinance their current mortgages at a lower interest rate and lower their monthly house payments beginning in the summer of 2021. This new...
Tips to Boost Your Credit Score to Obtain the Best Mortgage Rates
The three-digit number that is your credit score puts a big impact on your ability to qualify for a mortgage loan and what interest rate you will be offered. An interest rate plays a very significant role in how much home you can afford as it makes a dramatic impact...
Mortgages for Second Home and Vacation Homes in 2021
Right now could be a good time to purchase a second home. Not only do second homes save money on the expensive hotel costs of vacations, they can also be used as a potential source of income. Today’s current low mortgage rates could make purchasing that second home,...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.