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We know that for many, the mortgage loan process can be overwhelming and confusing. Don’t worry! With the right information, preparation and an expert loan officer, the loan process can be quite easy and straightforward.
When it comes to finding the right mortgage loan type and term for your new home purchase or refinance, the number of options available can be overwhelming. In this article, we’ll compare the different mortgage types and mortgage terms that you might come across as you look for a new home loan.
One key decision that you’ll need to make during the mortgage process is whether you’ll purchase your home with a fixed rate or adjustable rate mortgage (ARM). Each has pros and cons that should be considered during the decision-making process.
USDA loans are federally insured and can be compounded with USDA-sponsored grants which are backed by the U.S. Department of Agriculture. USDA loans are designed to provide homeownership opportunities to low- and moderate-income Americans living in rural areas.
If you are a current homeowner, there is a strong possibility that you could save with a refinance. Review this guide to learn more about the ways a refinance mortgage loan can help you consolidate debt.
For many homeowners who encounter unexpected bills or expenses, a home equity loan can be an effective way to pay ease financial struggle, consolidate debt and access cash quickly when emergencies arise.