10
Jul
By
Home Mortgage Tips, ,

Nearing Retirement? Three Reasons Why You Might Consider a ‘Reverse Mortgage’

If you are nearing retirement, a reverse mortgage might be right for you. This type of mortgage essentially allows you to turn your home equity into cash. If you find yourself with little money, a reverse mortgage could be the perfect solution, and here's why. No Worries About Monthly Payments After taking on a mortgage, there are many costs that you have to worry about. One of these problems is mortgage insurance premiums. Add interest and fees from lender service providers to the mix, and you've got yourself many costs. All of these fees can create tremendous headaches, as a…
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08
Jul
By
Home Mortgage Tips, ,

Mortgage Budgeting 101: How to Determine What You Can and Can’t Afford

When taking on a new mortgage, it is important to know that you can afford to carry the debt load involved, as many people find themselves in financial trouble by spending more on real estate than they can comfortably maintain. Your mortgage budget can be calculated to determine just how much you should spend on your next mortgage. Mortgage Rates And Today's Market Conditions Mortgage rates change every day, and in times of high volatility can even fluctuate more than once in a twenty-four hour period. The market reflects a number of economic variables, including relevant world news and events.…
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01
Jul
By
Home Mortgage Tips, ,

Understanding the ‘Qualified Mortgage’ or QM and Why It’s Important to New Home Buyers

Are you shopping for a home or a new mortgage? If you are interested in finding the best possible financial product, it is important to consider the benefits of selecting a Qualified Mortgage. With so many different types of loan products to choose from and financial terms to learn, schooling yourself on the mortgage market before you buy your first home or apply for your first refinance mortgage may seem like a daunting task. Luckily, there are resources that are designed to help you learn the basics of products and terms so that all consumers have the power to inform…
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