What is a Piggyback Mortgage?
In order to achieve the dream of homeownership, many buyers look for creative financing to aid them in their quest. One such option is a piggyback mortgage, which…
Mortgage articles — page 15
Browse mortgage explanations by topic, or use the complete alphabetical article list.
What is a Reverse Mortgage?
In the past decade, reverse mortgages have gained a lot of traction as a retirement tool. And yet, many people still do not understand reverse mortgages or their…
What is an ARM loan?
While fixed-rate loans are one of the most popular choices for mortgage loans, there is another choice: the adjustable-rate mortgage or ARM loan. If you’ve ever…
What is an eClosing?
Even before the COVID-19 pandemic, in the quest for convenience, everything in our world was trending more towards “virtual” services. The coronavirus quarantining of…
What is the Best Way to Pay for Home Renovations?
With the housing market red hot these days thanks to low interest rates and limited inventory, many homebuyers are considering properties that need some work just to…
What is the CHOICERenovation Mortgage?
Freddie Mac has announced the creation of a new home renovation loan program called the CHOICERenovation Mortgage. This product is replacing Freddie Mac’s previous…
What is the Difference Between FHA loans and Conventional Mortgages?
Compare FHA and conventional offers by insurance, cash needed, payment, and program fit. Review written loan costs rather than choosing by rate alone.
What is the Difference Between Pre-approval and Pre-qualification?
When it comes to mortgages, there are two similar sounding terms that often confuse potential homebuyers: pre-qualification and pre-approval. While they are alike in…
What Loan Options are Available for Rental Properties?
Just like with a first mortgage, lenders will run a credit check as well as require income, assets, and debt documentation. Because this purchase will be placing an…
What to Do if the Appraisal Comes in Low
You’re in the middle of the home selling process, having accepted a buyer’s offer. But after your house is appraised, the reported value comes back lower than the…