Is Your Car Lease Keeping You From Buying a Home?

Mortgages

Is Your Car Lease Keeping You From Buying a Home?

Is Your Car Lease Keeping You From Buying a Home?

Getting a mortgage can be difficult. Sometimes, to increase the odds of being approved or to qualify for a larger loan, prospective borrowers will pay down debts or eliminate existing loan obligations. Often, the process for doing so is simple, but there’s one type of financing that could trip up your efforts: a car lease. Here’s... Read More

Can I Get a Loan for a Mobile Home?

Mortgages

Can I Get a Loan for a Mobile Home?

Can I Get a Loan for a Mobile Home?

Trying to get a loan for a mobile home? You may be surprised to learn there are financing options available for non-single-family residence houses. Here’s what you need to know. The Different Types of Mobile Homes Your property type holds all the cards when it comes to whether or not you’ll be able to obtain... Read More

How Often Can I Refinance My Mortgage?

Mortgages

How Often Can I Refinance My Mortgage?

How Often Can I Refinance My Mortgage?

Though it may come as a surprise, there is no limitation to how frequently you can refinance your home. You can refinance as often and freely as you like so long as it financially makes sense to do so. Here are some things to consider before you move to refinance your mortgage. 1. What Are... Read More

Can Consolidating Your Mortgages Save You Money?

Mortgages

Can Consolidating Your Mortgages Save You Money?

Can Consolidating Your Mortgages Save You Money?

Combining your first and second mortgages into one can save you money if you do it right. Here are some smart, money-saving tips to be aware of when you submit a loan application to refinance and consolidate your mortgages. When you apply to refinance your home with the intent of financing more money beyond the... Read More

Is It Time to Refinance Your Adjustable-Rate Mortgage?

Mortgages

Is It Time to Refinance Your Adjustable-Rate Mortgage?

Is It Time to Refinance Your Adjustable-Rate Mortgage?

A variable- or adjustable-rate mortgage is a loan where the interest rate is subject to change according to market fluctuations and terms. (A fixed-rate mortgage, on the other hand, offers flat payments throughout the term of the loan.) Given the Federal Reserve’s recent decision to raise interest rates, some consumers with ARMs may be thinking about refinancing.... Read More

4 Ways You Can Borrow a Down Payment

Mortgages

4 Ways You Can Borrow a Down Payment

4 Ways You Can Borrow a Down Payment

Planning to buy a home sometime soon? It’s an expensive proposition, and if you need help coming up with a down payment, it’s important to know which sources you can tap to make your home-buying dreams come true. Here are four ways to borrow a down payment. 1. 401(k) Retirement Plans or Liquid Assets Many... Read More

Why 2016 May Be A Great Year for Homebuyers

Mortgages

Why 2016 May Be A Great Year for Homebuyers

Why 2016 May Be A Great Year for Homebuyers

The Federal Housing Administration continues its mission to help consumers realize the dream of homeownership. In today’s mortgage lending environment, there are three buckets of loan options available for borrowers, including conventional, FHA and jumbo loans. Of the three, FHA mortgages are significantly more flexible, especially in the following areas: Higher debt ratio allowance 3.5% equity Lower credit scores... Read More

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