What is a Second Mortgage?

by mylenderjackie | Nov 30, 2020 | Loan Programs

A second mortgage, which is sometimes called a junior lien, can be an option for turning your equity into available funds without having to sell the home. A second mortgage will increase your debt amount. It is considered a second mortgage because if the home should...

Is Refinancing from an FHA Loan to a Conventional Loan an Good Idea?

by mylenderjackie | Nov 23, 2020 | Refinance Your Home Loan

With Interest rates remaining at historic lows, some homeowners with FHA loans are considering switching over to a conventional loan. Switching can bring some positive changes like a lower payment, less interest, and the chance to get rid of mortgage insurance. In...

Today’s Financing Options That Will Save Homeowners from Foreclosure

by mylenderjackie | Nov 9, 2020 | Homeownership

At the beginning and even towards the middle of the pandemic-causing shifts in the housing market many real estate market experts voiced concerns over mortgage forbearance programs and the impact it would have when it came time for homeowners to pay them off. They...

What Are Rate and Term Financing?

by mylenderjackie | Oct 26, 2020 | Loan Documents

A rate and term refinance can be a useful way to save money on your home loan. What Is It? Basically, a rate and term refinance is a loan improvement. It allows you to exchange your old mortgage for a new one that will hopefully put you in a better financial position....

Why Fannie Mae and Freddie Mac Impact Every Mortgage

by mylenderjackie | Oct 5, 2020 | Purchasing a Home

When you begin to apply for a mortgage loan or even just research what you should know about current mortgages and what is out there, you will no doubt hear or read the words Freddie Mac and Fannie Mae. Fannie Mae and Freddie Mac are the financial entities that fuel...

Can You Refinance a Mortgage on a COVID Forbearance Plan?

by mylenderjackie | Sep 28, 2020 | Homeownership

At the height of the COVID scares, back in February and March, when the stock markets where crashing and businesses were closing for undefined amounts of time, many homeowners across the country found themselves in emergent and dire financial situations. There were a...

How to Start Saving Money for a House

by mylenderjackie | Sep 21, 2020 | Buying

Saving money to purchase a home may seem big, daunting, scary, unattainable, or always just out of reach. Don’t let your fears or apprehensions stop you from getting closer to the dream of owning your own home. Once you take those first steps it won’t seem so scary...

6 Steps to Finding the Best Mortgage

by mylenderjackie | Sep 7, 2020 | Buying

Applying for a mortgage on your home is more than just going down to your bank and taking the first offer given to you. It is best to shop around so you know you are receiving the best offer to invest the largest amount of money you will probably ever spend. As you...

Using a Construction Loan to Build Your Dream House

by mylenderjackie | Aug 31, 2020 | Loan Programs

Construction loans can be a good option if you are hoping to build a brand new custom home or put some major work into an existing one. Read on to find out more information on construction loans. What is a Construction Loan? A construction loan has a shorter term than...

How Long-Term and Short-Term Loans Differ

by mylenderjackie | Aug 24, 2020 | Loan Programs

How Long-Term and Short-Term Loans Differ – As the pandemic is still a large presence around the country and pandemic induced low-interest rates are still at all-time lows, it is still a good time to consider a refinance. This could also be a good time to take...