There are many types of mortgage lenders. Here are the ones that a homebuyer may encounter.1. Mortgage bankersGood for: Working with the same person or institution from start to finish.Lender examples: Bank of America, Chase Bank.Mortgage bankers can be individuals or institutions, but they ...
a loan offered by a private reverse mortgage lender and not insured by the government. Some proprietary reverse mortgage options allow you to take out a loan at age 55, rather than age 62. Typically, you can receive a larger loan advance, too, especially if you have a higher-valued home...
Reverse mortgages are a good idea if you plan on remaining in your house long-term and do not intend to leave it to your heirs. Also, a reverse mortgage is a good decision if you know you’ll be able to meet the requirements established by the program continuously. You plan on staying...
or more specifically, afirst mortgage. The borrower mustrepaythe loan in monthly installments made up of a portion of theprincipalamount andinterestpayments. Over time, as the homeowner makes good on their
Mortgage brokers can help you get various types of loans, including fixed-rate,adjustable-rate,FHA,VAandjumbo loans. They match you with lenders that offer products suited to your needs. AboutZachary Romeo, CBCA Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and th...
Aurora Financial is a direct Mortgage Lender. Corporate office in Vienna, Virginia, serving clients nationwide. (877) 887-1117
Lender-paid mortgage insurance, sometimes called a no-PMI loan, isn’t exactly what it sounds like. With lender-paid PMI, the lender pays the premiums, but you’ll pay, too, by way of a higher interest rate on the loan. Often, that higher rate costs you more over time than the extr...
No matter where you are in the homeowners' journey, there are important terms you should know during the mortgage financing process. Let's start with a few common terms: mortgage, down payment, amortization period, and term. A mortgage loan is a loan from a lender (e.g. a bank), secur...
Pro: You could get rid of your private mortgage insurance (PMI). If you made a smaller down payment when you originally purchased your home, you may be responsible for monthly PMI payments now to make up for the risk your lender assumed when lending you the funds for your home. Refinancin...
Josephine NesbitDec. 13, 2024 Top 2024 Holiday Trends Take your holiday decor in a fresh direction with an unconventional color palette and a bit of whimsy. Karen DybisDec. 12, 2024 6 Holiday Front Porch Decor Ideas Spruce up your outdoor space this holiday season with these easy decorating...