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Mortgage

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How to Buy a House With Bad Credit – 10 Steps...

Bad credit doesn’t mean you can’t own a home. But the worse your credit, the harder it is to qualify for an affordable loan. And just because you can buy a home even with poor credit doesn’t mean you should. Read on to learn what to consider when buying a home with less-than-perfect credit.
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Preapproved vs. Prequalified – Difference Between These Mortgage Terms

Getting a mortgage to buy a home is complicated. Hearing terms like “preapproval” and “prequalification” makes it more confusing. What do those terms mean, how does preapproval differ from prequalification, and why would you want to be preapproved or prequalified in the first place?
Blanket Mortgage Loan

Blanket Mortgage Loans – Definition, Pros & Cons of Using for...

For real estate investors, juggling multiple property deals and loans can get complicated. Blanket loans often help to simplify matters by letting borrowers take out a single loan to cover multiple properties. Learn what blanket loans are, their pros and cons, and when to consider using one.
Cash House Buying Pros Cons

Buying a House with Cash – Pros and Cons of Outright...

Historically low interest rates have made borrowing money for home mortgages cheap. But buying a home in cash to avoid debt remains appealing to many. For those who have the cash on hand to buy a home outright, the question remains: Is it a good idea? Read on to learn the pros and cons.
Short Sale Foreclosure

Tax Implications & Consequences of a Short Sale or Foreclosure

Every year, a million homes enter foreclosure and many more people are forced to sell back to the bank for less than their home is worth. Foreclosures and short sales are bad enough, but few people consider the tax implications — until they file their tax return and realize the worst isn’t over.
Balloon House Mortgage

Balloon Payment Mortgage – What It Is & How It Works

A balloon mortgage is a lesser-known type of mortgage that comes with unusual terms, a potential for huge savings, and enormous risk. It’s not right for everyone, but a balloon mortgage can be a great fit under the right circumstances. Should you consider a balloon mortgage? Learn more here.
House Money Percentage Interest Rate

8 Best Home Equity Loan & HELOC Rates for 2021

Homeowners with ample equity have a ready-made source of low-cost capital to finance significant expenses: their home’s equity. If you’re shopping for a home equity loan or line of credit in the hope of taking advantage of low interest rates, get the scoop on the lenders with the best rates.
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How to Pull Equity Out of Your Home – 5 Best...

In the aftermath of the Great Recession, pundits loved to gripe about “homeowners using their homes as ATMs.” Sure, just because you can take...
Upside Down House Mortgage

What to Do If You’re Underwater (Upside Down) on Your Home...

Also known as being upside-down, to be underwater on your mortgage means to owe more than your home is worth. A drop in the housing market, falling behind on your mortgage, or new information about the home’s condition can put you underwater. Here’s what to do if you’re underwater on your mortgage.
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What Is a FHA Streamline Refinance Loan – Program Guidelines

If you have an existing FHA mortgage, you may qualify for a special type of refinancing product known as an FHA streamline refinance. Though...
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When Should I Refinance My Mortgage Loan?

Refinancing your mortgage is probably the most profitable move you can make to take advantage of low interest rates. But should you actually do it? Before you can determine that, you must learn more about why you’d want to refinance your mortgage and how to calculate the net costs.
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Pros & Cons of Refinancing Your Home Mortgage Loan

Like millions of other homeowners paying more than necessary each month, you can take advantage of current low interest rates by refinancing your mortgage loan. But it’s not always the best decision. Before you can decide, you need to know more about the pros and cons of refinancing.