You’ve decided to move to a new home and you are ready to make an offer. Unfortunately, you need to sell your old home in order to be able to buy the new one. You won’t be able to pay for a new mortgage loan before selling your current home, so you basically have only […]
Question: I work in a second home/vacation home market, and a lot of my customers have a hard time getting financed, even if they have very strong credit and assets. Some of my most common questions/roadblocks: 1. Does it really matter if it is a house or a condo? Why?2. Why do I have to make
Financing Difficulties for Second Homes and Vacation Homes Read More »
Poor credit scores have typically led to credit companies slamming the door. Of course this is attributed to the fact that your payment capacity is in doubt. However, the good news is that you can take a mortgage loan or mortgage refinance from a mortgage company even with your bad credit. Potential borrowers may worry about the
Top 6 Mortgage Lenders For Borrowers with Bad Credit Read More »
Introduction In 2023, the housing market experienced both highs and lows. One of the biggest concerns for home buyers was housing affordability. However, there were positive factors that contributed to the resilience of the market, including mortgage rates and inflation. One of the key factors that will determine the effects on the supply and demand
The Housing Market in 2023: Resilience and Challenges Read More »
First Answer Certainly! Both Home Equity Lines of Credit (HELOCs) and Home Equity Loans are types of loans that allow homeowners to borrow against the equity in their homes. However, there are specific circumstances in which a HELOC might be considered less favorable compared to a Home Equity Loan. Here are some reasons why a
Why and when to choose HELOC vs Home Equity Loan? Read More »
You can borrow against your house as soon as you purchase it by taking out a home equity loan, HELOC, or cash-out refinance [1]. However, specifically for a HELOC, it can be obtained 30-45 days after the purchase of a home, provided that you meet the necessary lender requirements [2]. These requirements typically include having
According to the information from Bankrate [3], the speed at which you can get a reverse mortgage depends on factors such as the lender’s policies, the completeness of your application, and the time taken for necessary assessments. The typical steps involved in obtaining a reverse mortgage are as follows: The entire process typically takes a
