Assumable loans
Assumable loans permit one borrower to take over a loan from another borrower without any change in the loan terms.
View ArticleHome equity loans & line of credit
A home equity mortgage, like a second mortgage, lets you tap into a percent of the appraised value of your home, minus your current mortgage balance. Like a line of credit, you will not be charged...
View ArticleReverse annuity mortgages
A reverse annuity mortgage is a special type of loan available only to older homeowners with full or nearly full equity in their homes. Such owners can borrow against the equity they have built up over...
View ArticleBridge loans
A bridge loan is short-term loan that is used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations...
View ArticleWrap-around mortgages
A wrap-around is attractive to lenders because they can leverage a lower interest rate on the existing mortgage into a higher yield for themselves. Usually, but not always, the lender is the seller. In...
View ArticleBalloon mortgage
A Balloon Mortgage is a loan in which the entire unpaid principal becomes due and payable on a given date, five, ten, or any number of years in the future. The monthly installments are not large enough...
View ArticleNo Doc Loans
Generally, lenders will not make loans to unemployed persons because someone without an income would seemingly have no way of making monthly mortgage payments. However, there are home loans for which...
View ArticleGetting a home mortgage
Unless you have enough money to pay for a house yourself, you'll need a mortgage loan. A mortgage is a loan you take out to finance the purchase of your home. It is also a legal contract stating that...
View ArticleMake your house FHA-loan friendly
Know the basics of FHA loan rules and you stand a better chance of selling your house or condo. If your house passes the FHA rules, it will appeal to buyers who plan to use an FHA-insured mortgage. If...
View ArticleMaking an offer with a VA loan
If you are a veteran and are thinking about getting a VA loan, here are a few things that you need to keep in mind.
View ArticleUSDA Loans offer no money down
The United States Department of Agriculture (USDA) has a Rural Development program to help home buyers purchase homes in certain areas with no money down. Read more to see how both buyers and sellers...
View ArticleFind the home loan that fits your needs
A solid game plan can help you narrow your homebuying search to find the best home for you.
View ArticleFannie Mae and Freddie Mac: a look at mortgage lending without them
Some legislators say we don’t need mortgage giants Fannie Mae and Freddie Mac. What would happen if lawmakers got their way?
View ArticleDo ARM rates tempt you?
Would you refinance to get an interest rate below 3%? What if that rate would only last for five years? Read this article before deciding...
View ArticleDrawbacks of home equity loans
Taking out a home equity loan against the value of your property can backfire if you fail to avoid these common pitfalls in the borrowing process.
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