Many of the large banks that offer retail mortgage services also have wholesale divisions, including Rocket Mortgage and Fairway Independent Mortgage. And the nation’s largest mortgage lender is United Wholesale Mortgage (UWM), which works exclusively with mortgage brokers. How does this whole mortgag...
Is it better to use a mortgage broker or a bank? It depends on your needs. Mortgage brokers offer various loan options from multiple lenders. In contrast, banks and credit unions offer their own loan products and may provide better service for existing customers. ...
A fixed-rate mortgage has a set interest rate and predictable monthly payment that doesn’t change for the duration of the loan. We’ve broken down this mortgage option by answering some of the most common questions below: What does it mean when a mortgage is fixed rate? A mortgage with ...
About Casey Fleming: Casey Fleming is a veteran mortgage advisor (NMLS 344375) and Author ofThe Loan Guide: How to Get the Best Possible Mortgage. Casey advises clients throughout California, and is based in the heart of Silicon Valley. He writes articles regularly for several online publicatio...
MORE LIKE THISManaging a mortgageMortgages If you’re affected by a wildfire, flood or another natural disaster, what does it mean for your mortgage? This is an urgent question for homeowners seeking to recover from Hurricane Idalia or the wildfires in Hawaii. Here are frequently asked questions...
Let’s explore what a jumbo mortgage is, how it works, and its pros and cons. In This Article What is a jumbo loan? How does a jumbo loan work? The pros and cons of a jumbo loan How to qualify for a jumbo loan Should you take out a jumbo loan? What is a jumbo loan? Jumbo...
How Much Does It Cost to Refinance a Mortgage? How to Choose a Mortgage Lender What Is a USDA Guarantee Fee? Thinking about buying but not sure where to begin? Start with our affordability calculator. See what you can afford Follow us: ...
A home equity loan is a loan taken out against the equity in your home. Equity is the difference between the current market value of your home and the amount you still owe on your mortgage.
Do I owe taxes on a reverse mortgage? Do reverse mortgages affect Social Security or Medicare benefits? If I use a reverse mortgage, does that mean the lender or bank owns my home? Are there monthly mortgage payments? When does a reverse mortgage have to be paid back? Why do I have to...
In addition, mortgage loan officers must pass the NMLS National Test, in addition to a criminal background check and credit check. Commercial loan officers have fewer requirements, but their employers may still require additional credentials.5 ...