Tag: <span>#MortgageBroker</span>

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TO RENT OR BUY, THAT IS THE QUESTION

An age old question many people face; continue to rent or  commit to buying a home? Most people do a financial analysis to see if this makes sense. Will the mortgage payment be less than the rent payment? Whether yes or no, they should consider that the principal portion of the mortgage payment is used...

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FINANCING HOME LOANS WITH STUDENT LOAN DEBT

  Are you a soon to be college graduate considering financing a home loan? Student loan payments were deferred during the onset of the pandemic and you may not have had a monthly payment. Nonetheless,  lenders will calculate a payment to qualify you for the loan, when applying.

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ASSET DEPLETION CALCULATION

  You may be able to qualify under an asset based or asset depletion calculation. What is an asset based or asset depletion calculation? Lenders use different calculations but take a percentage of your assets and treat it as income. The loan then meets the ability-to-repay requirement and complies with Dodd-Frank legislation. It has been...

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REVERSE OR FORWARD MORTGAGE?

What is the difference between forward and reverse mortgage? Reverse mortgage, money is borrowed, the loan is secured by your home, but you don’t have to pay it back with money out of your pocket. The loan is paid by the equity in your home; the mortgage balance increases over time. One way to understand...

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DEFINE FORBEARANCE

Due to the pandemic, many homeowners are struggling with making their mortgage payments. Forbearance may be an option for them. What is forbearance? Here is an article that gives you what you need to know regarding forbearance:   We offer a variety of products and services, ask us how we can assist you today: Counsel...

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LOANS FOR INVESTMENT PROPERTIES

Are you interested in investment properties but do not have the capital to invest? Do you wonder how much money is needed? What if you cannot qualify? There are a few steps to take to get started. To see what the requirements are for investment property loans,  We are a mortgage brokerage. Our skilled originators...

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HOA ASSESSMENTS AND MORTGAGE PAYMENTS

  Becoming a new homeowner is both exciting, and somewhat confusing, when buying into an HOA. Some new members of an HOA may be under the impression the assessment payment is built into the mortgage payment. Assessments should be paid to the HOA, and mortgage payments are paid directly to the mortgage servicer.   If...