If you're ready to close on a home and you're into saving time and ink, help is on the way. Matter of fact, it's already here. Rather than signing as many as 50-100 pages of paperwork on closing day, you can now accomplish the same thing by simply pressing a...
Category: Mortgages
Fannie Mae vs. Freddie Mac: How are They Different and How are They the Same?
Like peanut butter and jelly or salt and pepper, Fannie Mae and Freddie Mac are seldom not spoken of in the same sentence. Both created by the U.S. Congress, they provide liquidity, stability and affordability to the mortgage market. This means readily accessible funding to the thousands of banks, savings and...
Jumbo Loans: What You Need to Know
Ever gone out for a seafood dinner and the "baby" shrimp just didn't do? Ever ordered an extra-large pizza or glass of tea? We live in a world where bigger is usually considered better. While this may not always be true, it certainly is when it comes to the kind...
What is a VA Loan and Who is Eligible?
Through what are commonly known as VA loans, the U.S. Department of Veterans Affairs (VA) provides affordable home financing options for service members, veterans and their surviving spouses. But how does someone become eligible? And what are the benefits? Up next, we'll learn how to get this kind of loan...
What is Mortgage Insurance and is it Required?
If you're a homeowner, you've probably heard of mortgage insurance. However, if you do not own a home, you may be completely unfamiliar with the term. So, what is mortgage insurance? And is every homeowner required to have it? Let's explore this very important topic together!The 101Mortgage insurance serves a...
Mortgage Underwriting 101: What is it and Why is it Important for Homebuyers?
Remember when you recently discovered the difference between a mortgage pre-approval and a mortgage pre-qualification? There was a simple takeaway. It went something like this: A pre-approval carries significantly more weight than a pre-qualification. In fact, a pre-approval letter from a mortgage lender is a very good indication you will be...