As more and more young people enter adulthood saddled by student debt, the options for consolidating and managing that debt are growing, too. One such option for those wishing to purchase a home is to roll student loan debt into a larger mortgage loan. This practice isn’t suitable for everyone, though. Read on to learn more.
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Reverse mortgages are becoming an increasingly popular way for senior citizens to finance their retirements using the equity in their homes. However, this financial tool isn’t right for everyone, and not all seniors will qualify. Click below to learn more about reverse mortgage eligibility.
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The home buying process can be fraught with confusing terminology, especially if you’re a first-time buyer. That’s why the experts at realtor.com have assembled a full glossary of common mortgage terms, complete with examples when necessary. Click the link to begin exploring all the terminology you’ve been wondering about.
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In a traditional mortgage refinance, the homeowner assumes a brand new loan on their existing home, typically with better terms, such as a lower interest rate. However, there is another type of refinance that allows the homeowner to pocket some extra cash. Read on to learn how this interesting option works.
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Just as with your initial home purchase, refinancing your mortgage loan will come with closing costs and fees. However, not all lenders require the same costs, so it’s smart to shop around for the best refinance terms for your circumstances.
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Private mortgage insurance, called PMI, is a way for buyers to qualify for the home of their dreams even if they don’t have enough cash for the full down payment. However, there are financial ramifications associated with paying PMI, so it’s important to understand what you’re getting in to.
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An FHA loan is a loan backed by the federal government – specifically, the Federal Housing Administration – and it can be an attractive option for first-time homebuyers. Learn the ins and outs of this mortgage loan instrument to see if it might be right for you.
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