The real estate industry in the states caters to senior citizens in some forms, giving you better peace of mind as you look to own a home in your old age. Some facilities targeted at elderly homeowners began to show up in the early �60s when the US states tried to figure out what could be put in place for seniors seeking to maximize their home equity. One of such property financing tools is a reverse mortgage, which allows old property owners to receive credit against their home' … [Read more...]
How to Choose the Right Mortgage as a Couple
One of the biggest steps a couple can take is buying property together, and, when you've found that other person you want to spend the rest of your days with, it's a natural stride to take. The gargantuan decision is made after countless considerations and deliberation; thus, potentially strengthening the relationship. One thing is irrefutable: it turns the page into a new chapter in life. Coming from a state of stability and fortitude will lead to a prosperous future in your new home, mentally, … [Read more...]
A Homeowner’s Guide to a Vacation Home Mortgage Approval
After owning your first home, you may desire to have a second, and for a good reason. You may want a place to retire. Or maybe you want to have a place to go during the holidays instead of staying in a hotel. Further still, perhaps you have the desire to purchase property to add to your assets. However, owning a vacation home means more responsibility and expenses. You will also realize that buying a second home, the rules differ from buying a primary residence. Get to find some critical … [Read more...]
Refinancing Your Mortgage Pros and Cons
When it comes to paying off your mortgage, there is more you can do in addition to sending in your payments. If you aren't satisfied with your current plan, refinancing is an option that might be available. Refinancing is when a homeowner transfers their mortgage to a different organization or account. There are two kinds of refinances to consider. The first is an external refinance, or when you move your loan to another financial lender. The second is an internal refinance and occurs when … [Read more...]
8 Steps in the Mortgage Loan Process
The mortgage loan process is the process by which borrowers get approved for a home loan and lenders mitigate their risks by catering to only qualified borrowers. It involves the processing of extensive documentation and requires several quality control checks to ensure that all information presented is accurate and complete. Mortgage processing involves several key steps. Here are a series of 8 basic steps that accurately describe the entire mortgage loan approval process from pre-approval … [Read more...]
