After you choose a lender and receive preapproval for a loan, the rest of the process requires you to find a home, provide the appropriate documentation for underwriting and wait for the closing date. One last thing you must do, however, is to determine the right time for a rate lock with your Read more
How Does a Convertible Mortgage Work?
The Convertible Mortgage is one of the many options available to you, helping you to make home ownership as affordable as possible. This mortgage product gives you the best of both worlds – an adjustable rate in the beginning of the term with the option to convert to a fixed rate in the future. How Read more
Why Do Home Equity Loan Rates Tend To Be Higher?
Have you noticed that home equity loan rates are higher than standard mortgage rates? In general, you can obtain a much lower interest rate for a first mortgage than any type of equity loan strictly because equity loans are a much higher risk than first mortgages. The First Lender has Priority One Read more
What Are the Pros and Cons of Reverse Mortgages?
When the reverse mortgage first came out, there were many naysayers about the whole process. Since then, however, many people view the program in a much better light. Just like a standard mortgage, however, there are reverse mortgage pros and cons you should know about in order to make the right Read more
Beware of These Reverse Mortgage Scams
An unfortunate part of the lending world is that there are scams out there that you must be aware of, especially with reverse mortgages. Because this program targets seniors over the age of 62, it is easy to see how there are so many reverse mortgage scams out there. Understanding what to watch out Read more
Is It a Good Idea To Get a Mortgage With a Cosigner?
Sometimes you need a little help getting a mortgage. Whether you have bad credit or not enough credit, getting a mortgage with a cosigner can be the answer you need. Understanding how a cosigner works and what it means to you and the person cosigning for you can help you make an informed Read more
