12 Feb 2014
By Mark Feder
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Can I Have A Co-Signer For My Mortgage Loan?

Home Mortgage Tips
Like credit cards or car loans, some mortgages allow borrowers to have co-signers on the loan with them, enhancing their loan application. However, a co-signer on a mortgage loan doesn't have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. What Is A Mortgage Co-Signer? A mortgage co-signer is a person that isn't an owner-occupant of the house. However, the co-signer is on the hook for the loan. Typically, a co-signer is a family member or close friend that wants to help the primary borrower qualify for a mortgage. To that end,…
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11 Feb 2014
By Mark Feder
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3 Important Credit Considerations Before You Apply For A Mortgage

Home Mortgage Tips
Before applying for a mortgage, borrowers need to build a plan for how they are going to manage their credit both going into the mortgage process and as they navigate through it. Lenders like to know that borrowers have a strong likelihood of repaying the loans they take out and, as such, look carefully at an applicant's credit. Here are three must-dos that can help an applicant turn into a home owner. Pre-Checking Credit Reports Before even starting the home loan application process, borrowers are well served to check their own credit reports and see what appears. If everything is…
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02 Jan 2014
By Mark Feder
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Face The Numbers, A Mortgage That Works For You

Home Mortgage Tips
Before taking out a mortgage to buy a home, it's time to take a realistic survey of your finances so that you can determine your price range and what size of home you can comfortably afford. Buying a home that suits your finances will mean that your mortgage payments will be easily within your budget and won't cause you financial stress. Stay In Your Price Range Many people, when offered a large mortgage by the bank, are tempted to buy homes that are outside of their price range. It's easy to see why a larger property or a more luxurious…
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16 Oct 2013
By Mark Feder
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Get The Lowdown On Private Mortgage Insurance

Home Mortgage Tips
You may have heard the term Private Mortgage Insurance when looking to finance real estate. What is PMI, and how do you know when you need to purchase it? The answer can be hard to find among all the real estate jargon you're hearing lately. Below is the short version of what you need to know. What Is Private Mortgage Insurance? PMI is an extra insurance required by some lenders to offset their risk of you defaulting on your home loan. When you put down less than 20 percent of the real estate's value, your lender may tell you that…
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