Home Mortgages

The questions a mortgage lender is likely to ask

Millions of mortgage applications are completed and sent to lenders each year. Part of the steps required include the lender gathering information about you—and sometimes those questions can seem invasive. Most of the questions are required as part of your approval. Let’s take a look at the things a mortgage lender will ask. Credit Lenders …

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Mortgage Lengths Defined – Which is Best for You?

If you’re unprepared, buying a home can be a dangerous venture. If you aren’t well informed, not understanding your options could wind up costing you thousands, or tens of thousands, of added dollars. Aside from choosing the house itself, is the type of mortgage you’ll choose and the length of your loan. Fixed vs. Adjustable …

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What’s the Difference? Private Mortgage Insurance vs Homeowner’s Insurance vs Mortgage Protection Insurance

Private Mortgage Insurance (PMI) Private mortgage insurance protects your mortgage lender in the event you default on your loan. Many lenders will require high risk buyers to carry private mortgage insurance to protect what is their investment too. Generally, it’s required if you have a conventional loan and make a down payment of less than …

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Mortgage Applications on the Rise

Mortgage applications to purchase a home rose recently and were 7% higher than a year ago. Purchase applications reached their highest level since April 2010. While total mortgage application volume decreased 3.5% during the same time, according to the Mortgage Bankers Association’s seasonally adjusted index, overall volume was 14% higher than a year ago. Purchase …

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