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Listings for Mortgages Basic (103)

 

What exactly happens when a mortgage lender checks my credit?

What exactly happens when a mortgage lender checks my credit? The credit check is reported to the credit reporting agencies as an “inquiry.” Inquiries tell […]

23 total views, 1 today

 

What happens to my reverse mortgage when I die?

What happens to my reverse mortgage when I die? Reverse mortgage loans typically must be repaid when you die. What happens to the reverse mortgage […]

23 total views, 0 today

 

What is a mortgage?

What is a mortgage? A mortgage is an agreement between you and a lender that gives the lender the right to take your property if […]

22 total views, 1 today

 

What is the difference between a fixed-rate and adjustable-rate mortgage (A...

What is the difference between a fixed-rate and adjustable-rate mortgage (ARM) loan? The difference between a fixed rate and an adjustable rate mortgage is that, […]

23 total views, 1 today

 

What is an option or payment-option ARM?

What is an option or payment-option ARM? An option or payment-option ARM is an adjustable rate mortgage with several possible payment choices. Some of the […]

20 total views, 0 today

 

What is a second mortgage loan or “junior-lien”?

What is a second mortgage loan or “junior-lien”? A second mortgage or junior-lien is a loan you take out using your house as collateral while […]

19 total views, 0 today

 

What is a home equity loan?

What is a home equity loan? A home equity loan (sometimes called a HEL) allows you to borrow money using the equity in your home […]

22 total views, 0 today

 

My lender offered me a home equity line of credit (HELOC). What is a HELOC?...

My lender offered me a home equity line of credit (HELOC). What is a HELOC? A home equity line of credit (HELOC) is an “open-end” […]

23 total views, 0 today

 

What are some of the financial considerations when thinking about buying or...

What are some of the financial considerations when thinking about buying or renting a home? Buying a home and taking out a mortgage might make […]

22 total views, 0 today

 

What kind of down payment do I need? How does the amount of down payment I ...

What kind of down payment do I need? How does the amount of down payment I make affect the terms of my mortgage loan? There […]

21 total views, 0 today

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