23 Dec 2014
By Mark Feder

Are You Applying for a Reverse Mortgage? Here Are 3 Considerations You’ll Need to Make

Home Mortgage Tips
If you're a homeowner who is looking to tap in to the home equity that you've spent years building you may be interested in a "reverse mortgage" or "home equity conversion mortgage". While these unique financial tools aren't for everyone, if you qualify for a reverse mortgage you'll find that this might be the perfect financial solution which allows you to pay off your existing mortgage, or for some other regular expenses that you have. Let's take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage…
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10 Dec 2014
By Mark Feder

Trying to Save on Your Closing Costs? Here Are Three Tips That Can Help Lower Them

Home Mortgage Tips
Whether you're about to close on a lovely new house for your growing family or a stylish beachfront condo so you can retire close to the ocean, one thing is certain: you're going to face a variety of closing costs. Insurance, taxes, financing fees, title fees, attorney fees and other costs will need to be paid, and if you're a savvy buyer you'll do everything you can to save on them. In today's post we'll share three quick tips that can help you reduce your closing costs when you buy your next home. Tip #1: Include Closing Costs in Your…
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09 Dec 2014
By Mark Feder

Understanding Mortgage Insurance and the Difference Between FHA, VA and USDA Mortgages

Home Mortgage Tips
Are you thinking about using mortgage financing to buy a new home? If so, you've likely heard about mortgage insurance policies requirements and you may be wondering how they will affect you. In today's blog post we'll explore mortgage insurance and explain the difference between conventional, FHA, VA and USDA mortgage insurance policies. How Does Private Mortgage Insurance or "PMI" Work? While there are a number of reasons that your lender may require mortgage insurance, in general you'll be required to purchase a conventional PMI policy if you are putting less than 20 percent of the home's value in as…
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03 Dec 2014
By Mark Feder

Understanding the Difference Between a Mortgage Pre-qualification and a Pre-approval

Home Mortgage Tips
If you're in the market for a new home and you've been researching mortgages, you've likely come across the terms "pre-qualification" and "pre-approval". While these terms are self-explanatory in some circumstances, they are quite different in regards to mortgage financing. In today's blog post we'll explain the difference between a mortgage pre-qualification and a pre-approval. Pre-qualification: an Initial Look at Your Mortgage Options The first – and easiest – step on the way to receiving mortgage financing to buy a home is known as pre-qualification. During this process you'll meet with a mortgage advisor or lender who will assess your…
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