Recent Articles
27
2023
Q: What is a Reverse Mortgage Loan? A: A Reverse Mortgage Loan is a type of loan that allows homeowners who are 62 years old or older to access the equity in their homes. Unlike traditional mortgages, the borrower does not make monthly payments to the lender. Instead, the loan balance...
24
2023
An FHA loan is a mortgage that is insured by the Federal Housing Administration (FHA). It is designed to help homebuyers with lower credit scores or smaller down payments to purchase a home. FHA loans are issued by private lenders, such as banks and credit unions, but they are backed by the...
24
2023
Here are some tips on how to find the best mortgage program when shopping for a home loan: Check your credit score: Your credit score is a key factor in determining your eligibility for a mortgage and the interest rate you'll receive. Check your credit score and report to make sure they...
22
2023
If lack of downpayment or funds for closing costs are the main hurdle to buying a home, a state or local downpayment assistance program may be the answer! Most states, counties, and cities offer assistance in the form of grants or no-interest loans to help home shoppers pay for these costs...
15
2023
Debt-to-income (DTI) ratio determines what mortgage you’re eligible for. So before getting pre-approved, your mortgage advisor will review your income and debts to help you understand where you currently stand. In this article, we’re going to look at what a...