Even with the recent drop in rates, understanding your options for a mortgage can feel daunting even to the most experienced borrowers. But don’t let that deter you. If other homebuyers’ experiences are any indication, odds are you’ll find a home loan that works well for you.
Continue reading Your Mortgage Options: Top Factors to Consider
A couple is planning to tour the United States in a travel trailer during their first few years of retirement. They are going to sell their current home now and purchase another home when they finish their travels.
An interesting exercise is to determine the optimum time for selling the home: now or when they’re ready to buy their replacement home.
Continue reading Optimum Time for Selling
Finding a mortgage lender for a purchase loan or refinance is not a problem. Selecting someone who will help you find the best loan product for your situation even if it means sending you to another lender, is paramount.
There is a huge advantage to be able to sit across the table from someone you’re doing business with and look them straight in the eye. It’s difficult to make an informed decision based on a website and a phone call.
Continue reading Selecting a LenderThis article is intended for general informational purposes only and does not constitute financial, tax, or legal advice. Homeowners considering a reverse mortgage should consult with qualified professionals to determine whether it is appropriate for their individual circumstances.
With encouragement from celebrity spokespersons such as Fred Thompson, Robert Wagner, and Henry Winkler, awareness of reverse mortgages increased significantly over the past decade. As the population continues to age, the topic remains relevant, with more than 25 million homeowners meeting the minimum age requirement.
A reverse mortgage allows homeowners age 62 or older who live in their home as a primary residence to access a portion of their home equity. The amount available is based on the borrower’s age, the home’s current value, and prevailing interest rates. Loan proceeds may be received as a single lump sum, a line of credit, or as periodic payments. Closing costs can be paid in cash or rolled into the loan amount.
