Tag Archives: Mortgages

Do I Need a Mortgage Broker to Find a House?

Looking for your dream home is not a decision that should be rushed. You will likely end up spending much of your life paying off a home, and getting a house that is right for your life is extremely important for well-being. You may try to seek out a home on your own, but there are risks involved if you are not familiar with the housing market and unfair mortgage practices. One of the options you have to ease the process of finding a good deal is to consult a mortgage broker. A mortgage broker has access to many different mortgage options and homes, and has knowledge to help you select one that fits your needs. Benefits That a Mortgage Broker Can Provide Consolidation: The broker can act as a liaison between different parties that will be involved in the loan process, including escrow officers and title companies. This will…
Read More »

Posted in Real Estate | Tagged , | Leave a comment

What Kind of Mortgage Should I Choose?

Taking out a mortgage is a serious commitment, and choosing the right one for your financial situation could be the key to a happy future. If you have found the home you want and have the finances to start making payments on it, ask yourself these questions when considering a mortgage. What Kind of Mortgage Lender Should You Choose? Mortgage broker: A mortgage broker networks with multiple mortgage lenders to find you the most convenient price and terms. The broker will often get a price that is better than if you went to the lender on your own, but will also charge you a fee. Wholesale lenders: These are banks or other financial entities that have the money to give out, but have a retailer interact directly with the customers to complete the deal. Portfolio lenders: This type of mortgage lender has their own money and can set their own…
Read More »

Posted in Real Estate | Tagged | Leave a comment

5 Reasons You Might Want a Reverse Mortgage During Retirement

Despite the old wisdom, some financial experts think there are good reasons why you might want a reverse mortgage during retirement. This loan is no longer just a last resort. It can also be a smart financial move that helps you enjoy your golden years in style. Here’s a look at a few good reasons to make the deal. 5 Reasons You Might Want a Reverse Mortgage During Retirement Escape the impacts of a tough market: The market tends to go up and down in ways that don’t indicate the real value of your portfolio. If you sell your retirement investments during a down period that could be very bad for your retirement. Pulling money out of your house through a reverse mortgage can give you income to live off until the market recovers. This way you don’t have to delay retirement just to protect your portfolio. Delay collecting social…
Read More »

Posted in Real Estate | Tagged | Leave a comment

5 Tips to Help the Mortgage Process Go More Smoothly

If you’re like most people, you will need to go through the mortgage process before you can buy home. Selecting a mortgage may be one of the biggest financial decisions of your life. Here’s a look at how to make the process go as smoothly as possible. 5 Tips to Help Make the Mortgage Process Easier Consider your budget: The most important thing you need to learn before you sign a mortgage is what your budget is. Try to be somewhat conservative about what you can afford. Factor in costs such as taxes and utilities before honing in on a monthly payment that you can comfortably afford. Give yourself room for savings and emergencies. Know your budget before you even start looking at homes or mortgages. Don’t trust agents or lenders to tell you what is in your price range. Be prepared for surprises: When it comes to planning and…
Read More »

Posted in Real Estate | Tagged | Leave a comment