Knowing how a personal loan can affect your borrowing options and overall financial profile is essential. Personal loans can be useful for covering significant expenses or consolidating debt. They may also affect your credit score, debt-to-income ratio, and overall financial health — key factors that lenders evaluate when you apply for a mortgage. This article … Read more
How to Get Rid of Private Mortgage Insurance – Private mortgage insurance (PMI) can be removed from your mortgage once you’ve built enough equity in your home. Typically, you must have at least 20% equity before you can request its removal. If you don’t make the request, PMI will automatically drop off once your equity … Read more
Paying off your mortgage can be difficult but most times worth it, but what happens when you pay off your mortgage? You will gain full ownership of your home. After paying off your mortgage, you get to avoid excess interest rates as well as face a lower risk of losing your home if you default … Read more
While getting a mortgage loan is tough enough, most scammers take advantage of home buyers looking into taking a mortgage loan. When renting, buying, or refinancing your mortgage loans, you need to be aware of the common mortgage scams to avoid. Most home buyers as well as homeowners fall victim to mortgage scams, causing them … Read more
Should I invest or pay off my mortgage? is a common question most homeowners often ask. Being debt-free is a common goal for homeowners with a mortgage loan. The best way for a windfall of money to be invested is if a realistic rate of return notably surpasses the interest to be paid on the … Read more
In an age where environmental preservation is highly concentrated, the concept of green mortgage has gained fame. But what is a green mortgage? This is a type of home loan designed specifically to offer incentives and support to the renovation and purchase of homes with environmentally friendly or eco-friendly features. With the increasing prominence of … Read more
Mortgage life insurance for veterans offers mortgage protection to veterans and their families with serious service-related disabilities who have gotten homes that suit their needs. This insurance is made and can only be obtained by veterans and their families. It covers mortgage-related bills for disabled veterans and their families. Depending on the amount of mortgage … Read more
Mortgage modification is a change made to the terms of a mortgage loan by the lender due to the inability of a borrower to pay back the loan through the original loan term. Generally, loan modification is done to make repaying the loan more affordable for borrowers and to avoid defaults. It is often advisable … Read more
Undoubtedly, bankruptcy is a daunting and burdensome financial event that can come with substantial consequences on your financial stability and creditworthiness. Furthermore, many people have experienced bankruptcy and wonder if they can ever get a mortgage again. This leads to the question: Can you get a mortgage after bankruptcy? The good thing is that although … Read more
There are things to take into consideration when acquiring a home. Some of these things are the mortgage type and interest rates. Aside from these, you also need to consider purchasing mortgage points to lessen your interest rates. Mortgage points are fees a borrower pays to a mortgage lender to get a lesser interest rate … Read more