Home equity loans are making a comeback as home values rise again. This time around, though, lenders have stricter requirements. You’ll find that you have to verify your income and assets much more thoroughly than in the past.Compare Offers from Several Mortgage Lenders.This doesn’t mean a HELOC is hard to come by, though. Before you jump on board, consider the … [Read more...] about The Biggest Mistakes To Avoid with Home Equity Loans
Consumer Mortgage Tips
You are going through a divorce and now you want to buy out your ex-spouse. Unless you have a lot of cash lying around, you’ll probably need a loan to do so. You have two options if you plan to use the home’s equity – a cash out refinance or a line of credit.Compare Offers from Several Mortgage Lenders. How the Cash Out Refinance Works A cash-out refinance is a little … [Read more...] about How to Successfully Buy Out Home Equity in a Divorce
If you buy a home that you do not intend to live in, it is not your primary residence. But that doesn’t automatically mate it a second home either, as many people mistakenly think it’s called. If you aren’t living in the home, it could be one of the two things – either a second or investment property. They both have differences, so understanding them can help you use the right … [Read more...] about What is Considered a Second Home?
You went to college and left with not only a degree, but a whole slew of student loans. Now you want to buy your own home, but wonder how you will do it. Will lenders turn you away because of your college debt?Looking for Current Mortgage Interest Rates? Click Here.Luckily, lenders won’t push you away just because you have debts from college. They look at the big … [Read more...] about How do Student Loans Affect Getting a Mortgage?
What are some proven ways to reduce mortgage principal effectively and slash some years off your home loan? The thought of going through the whole process of buying a home is intimidating for many. Aside from the anxiety of finding a property that is within your budget, there’s the nagging worry of getting a mortgage. Not to mention all the tricky decision-making that comes … [Read more...] about Ways to Reduce Your Mortgage Principal