In the 1980’s, the federal government began noticing that many retirees and elderly people were struggling financially despite having a solid net worth. Technically, these people had a strong financial foundation, but the majority of their net worth was...
To the casual observer, it probably makes very little difference if a loan is “QM” or “non-QM.” And unless you’re in the mortgage business you probably have no idea what the designation actually means. But it is a big...
By using a different form of information to verify a borrower’s income, bank-statement loans make mortgages available to many people who might otherwise struggle with financing. If you have a unique career, or simply want to improve the terms...
Surely while flipping channels you’ve run across a cable TV show about buying a run-down home as the stars of the show magically refurbish the dilapidated property. 30 minutes later you can hardly recognize the new creation. It seems...
How big of a down payment should you have before purchasing a home? That’s one of the fundamental questions for homebuyer, but if you are an investor, it might be even more important, as down payments make a direct...
Because financing options are limited, non-warrantable condos create problems for buyers and sellers. However, if you work with the right team, you can find affordable financing for next home, regardless of the property's status. Financing Options for Non-Warrantable Condos What are...
Mortgages can be complicated, with lots of confusing terms and acronyms that seem like they come from another language. But you don’t need to be a real estate agent or a lending professional to speak the language of mortgages....
We would all like to make our homes more energy efficient, but paying for these improvements can be costly. Installing a solar water heater, for example, costs an average price of $3,376 according to HomeAdvisor; if you have a high-end...
Your credit score is one of the biggest factors in determining your qualification and interest rate when applying for a home loan. Missing a credit card payment is not the end of the world and it will not automatically...
It’s a problem that many new retirees experience. You just celebrated one of the most important accomplishments of your life, you have great credit, and excellent assets; you should be a top-notch candidate for a mortgage loan. But because...