Mortgage Resources and Articles

5 Things Not to Do Before You Close on Your Mortgage

Home buyers and people refinancing sometimes get complacent once they get a mortgage approval. They assume the approval is set in stone. But that’s not the case. There are at least five things you should not do before you close on your mortgage. The mortgage process is dynamic. Even after you get your approval, things […]

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Are Bi-Weekly Mortgage Payments for You?

For most homeowners, mortgage payments are paid once a month. Yet some homeowners opt to make a payment twice a month, a proven strategy that can help you pay off your mortgage faster, save thousands on interest and quickly accrue more home equity. On the other hand, bi-weekly mortgage payments aren’t for everyone. Not everyone […]

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How to Know When to Refinance Your Mortgage

How do you know when to refinance your mortgage? Many people know that refinancing a home loan could save them money, but it isn’t always true that you’ll come out ahead with a refinance. Your potential savings depends on your circumstances, the terms of the old loan and the terms of the new refinance loan. […]

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When it Makes Perfect Sense to Do a Cash-out Refinance

Strictly speaking, doing a cash-out refinance is a form of “equity-stripping.” That’s what it’s called any time you borrow money against your home for a purpose that is not related to the property itself. There’s no question that equity stripping can lead you to a bad place. But there are times when it makes perfect […]

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How to Refinance After a Loan Modification

After the financial crisis of 2007-2008, which was primarily driven by a collapse in housing and mortgage markets, many homeowners found themselves in serious trouble. In response, Fannie Mae and Freddie Mac introduced loan modification programs to restructure mortgages broadly. These programs allowed borrowers that were behind on their mortgage payments or couldn’t refinance into […]

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How to Compare FHA and VA Loans

Buying a home is a big step that requires commitment and capital. However, coming up with the down payment can be difficult. Many of us don’t have tens of thousands of dollars available for a 20% down payment. The good news is that there are government programs designed to help you get into a home […]

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How to Get a Mortgage After a Foreclosure

One of the biggest credit obstacles when it comes to applying for a mortgage is getting a mortgage after a foreclosure. After all, foreclosure involves a default on a mortgage, and you will be looking to apply for a new one. How will a mortgage lender view that? Actually, by taking a few strategic steps, […]

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The Benefits of Getting a Mortgage Online

Getting a mortgage online is fast becoming more common. Thousands of homebuyers and homeowners still haven’t made the transition over to online mortgage lending. But there are several advantages to doing it, so you should certainly give it a try on your next mortgage application. Here are some of the biggest benefits of getting a […]

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Using a Subordination Agreement to Refi a First Mortgage While Keeping a Second

What if you have a first and second mortgage on your home, but you want to refinance the first mortgage only? Maybe your current second mortgage has a very low interest rate that you don’t want to lose. If so, you can use a subordination agreement to do the refi on the first mortgage, while […]

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How Mortgage Lenders Calculate Self-Employment Income

There’s no doubt about it, the burden of income documentation for the self-employed is more complicated than what it is for salaried employees. But the reason for the higher level of documentation is that the process for lenders to calculate self-employment income is more involved. By knowing how mortgage lenders calculate self-employment income, you’ll be […]

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